PRODUCE NOTES.

New Zealand Times, Volume LXXV, Issue 5024, 23 July 1903, Page 3

PRODUCE NOTES.

(From Our Special Correspondent). LONDON, June 13. WOOL. Tho third series of London wool sales closed firmly on 23rd ultimo. .All descriptions of crossbred ruled at the highest point of tho series, while other sorts, save medium greasy merino, which tended in buyers' favour, fully maintained the improvement reported in my last report. Of the total offering of 200,000 bales, 189,000 bales were disposed of, of which 100.000 bales (including 0000 bales purchased' on American account) were taken for export, while 19,500 were carried forward. Sinco tho sales there has been no fresh development as regards the raw material, values for which continue very firm, though but little business has been passing by private treaty. Advices from Bradford point to a firm but quiet tone there. On tho one hand, spinners are not buying at all freely, while on tho other, tup-makers are holding to their stocks, and talk of a further advance at next London sales of 5 per cent, on merino and 10 per cent on crossbreds. Manufacturers generally aro busy, but it is with fabrics for which coarso qualities of staple, rather than merino, aro employed that they are mainly engaged. Trade on tho Continent is extremely quiet, and prices havo an easier tendency, but this is by no means an unusual feature at this season of the year. FROZEN MEAT. During tho past three weeks some 210.000 carcases of mutton have come to hand and tnoso large arrivals havo proved in excess of market requirements, and prices havo further given way, heavy sheep (Bib to 7‘2lb being difficult to dispost of. Shortly alter the date or mylast report tho demand for lambs 1 improved until 'this has sinco been Emphasised with tho result that stocks havo been materially reduced, while juices, particularly for light weights (under 361bs) have advanced. In New Zealand beef, but little has been jrassing, the inquiry being restricted to hindquarters, fores, as is usual at this season of the year, not being in demand. Tho fact that quotations for Argentine chilled this week have been reduced to Is &d lor fores and 3s to 3s 2d for hinds, has adversely affected the market for frozen. The N.Z.L. and M. quotes; Canterbury sheep, 2s Id to 2s Gd; Canterbury iamb. 3s 3d to 3s sd; North Island sheep, 2s 2d to 2s Id; North Island lamb, 3s Id to 3s Id; North Island ewes. 2s. Beef—New Zealand hinds. 3s Id (uom). TALLOW. Owing to the AVhitsuutido holidays there have been only two public auctions since my last report, viz., on 27th May and 10th imh. Alter the May sales a good business was done in fine mutton, the price accepted by holders—2Bs to 23s Gd por cwt—stimulating tho demand. Values gradually hardened;, advancing Is per cwt i-n the week, and at tills figure line mutton is again apparently too dear. For arrival business has been within moderate compass, colonial ideas of value being too high for buyers here. A fair line of mutton duo in about a month has been sold at 29s pen' cwt c.i.f. The N.Z.L. and M. quotes: Finest mutton 23s 6d to 30s; good 28s Od to 23s;_fair 2Ss to 2Ss 3d, low sorts, 2Ss 9d to 27s 6d; fair to good beef (nominal) 28s to 29s Gd per cwt. GRAIN. A dull tone still prevails in the wheat market, recent heavy shipments cmcourogiug buyers to adopt a waiting policy, wmisc the damage caused by the recent disastrous weather to the crops in the so u.tli-western iJtates of America ixas made holders not arudous to tell* .No Australian or New Zealand is offering on _ tho spot," and theroo aro no transactions to report in cargoes. Oats are slow of sale, and Giving to the largo quantities available, jrrices aro somewhat easier for the commoner descriptions. Tho Loan and Mercantile quotes; Canadian (now crow), at 25s to 2Gs, and ordinary bluff and sparrowbills at 22s to 2is per 3311 b, ex warehouse. Owing to tho absence of supplies of beans there is nothing, fresh_ to report. Current quotations ; 35s to 37s per 5011 b, ex warehouse. BUTTER. There has been but little inquiry for Australasian since my last advice, the season now being practically over. Prices aro very irregular, but a few small lots of finest have made about 92s to 91s per cwt. Butter under that grade is extremely difficult to disjrase of, and prices have ranged from 80s to 90s per cwt. CHEESE. During the past three weeks tho inquiry for this article has been quiet, with the result that Canadian, in consequence of the increased arrivals of new cheese, has declined in price, and is now worth from 56s to 57s per cwt. New Zealand, which ig in small compass, i 5 making from Gis to 66s per cwt. for best quality. HEMP. Tho demand for New Zealand mentioned in my last advice has not been maintained, and prices have given way. The largo receipts of "Manila havo exercised a depressing influence on the market, and buyers have operated with great caution. Latest quotations: May, .-E32 to 2132 10s; July, .£3l; August, £3O 10s; Jnne-Dccember, £3O 10s per ton, c.i.f. COCKSFOOT. As is usual between the seasons, the market is very dull. Some few transactions have, however, taken place, and the Inst price secured for 171 b bright seed was Its per cwt, c.i.f.