PRODUCE NOTES

New Zealand Times, Volume XXX, Issue 6622, 11 September 1908, Page 3

PRODUCE NOTES

THE LONDON MARKETS. (From Our Special Correspondent.) LONDON, July 31. WOOL. Tho fourth soriw of sales commenced on the 14th inM. Theie wua a large as-.-mnblmm of tho trade, all sections, iucUidiug America, being well reprebcatea. Comijetitiou both for jnerino and hrod was active and general, and values as compared with preceding coding rates, marked an advance of 5 per cent, for most sorts. Under the influence or keen American bidding for medium and coarse crctWbrcd, and increased competition from tho Continent values generally subsequently hardened, medium and inferior merino and medium and coarse greasy crossbreds ruling a to 7i dearer, requirements realising extreme rated. Greasy merino had dime continued hrm, but a weaker tone hao recently been manifested for ail scoured wool as well ati greasy crossbred, the last now allowing but little change from May, while .scoured merino sells irrcgularaly and frequently in buyers’ favour, kino crossbred tdipe shows but little change, while medium and coarse grades rule abo lit o per cent, dearer, For lambs there is an active demand on hTench and Home account, and crossbred may be quoted a to 7i and merino par to 5 per cent, higher. The sales will do-** yc-morrow, aacl it is expected that some 80,000 bales will be held over. NEW ZEALAND HEMP.

There has been only a limited inquiry since liLst advice, and the volume of business passing lias been but small. In sympathy with the continued decline in Manila prices must bo quoted 30s to 40s per ton lower. Very little js offering from the Dominion, and this combined with ‘'bear” operations serves to sustain prices which are relatively very dear as compared with those for Manila. The Xew Zealand Doan and Mercantile quote:—Good fair spot <£26 to X’26 10s, July-Septenibcr X 25 10s to JE26, fair spot £2 2 10s to c£23, July-Scq>tembcr £22 10s, fair current Manila £22, c.i.f. Tow in limited demand at J2S os to «£9 per ton c.i.f. COCKSFUGr. The market is very dull and lethargic and in the absence of business it is difficult to give quotations. The American and Continental crops are now being offered, but as an advance in price has already taken place it "would appear as if the yield is not so large as was anticipated. The latest advice from America quotes 80s per ewt f.0.b., but this has so far mo* with no response. Latest quotations:—l7lb seed (nom.) 90s per cwt ex warehouse, TALLOW. There have been five public auctions since my last advice, and with good inquiry values have appreciated Is to Is 6d per cwt, excepting for fine mutton, i which may be quoted 6d per cwt dearer. I The market is quiet at the close, with an easier tendency, and although prices may give way somewhat in the near future, I think this will only prove a temporary depression. {Stocks in warehouse at 30th ult. were rather large—--14,652 casks—but against this must bo set the fact that supplies in view are very small. A very fair business has been done in Australasian for arrival, and latest quotations are 32s 6d per cwt c.i.f. for 48dcg. mutton, and 30s 9d per cwt c.i.f. for 43ldeg. good colour mixed. Quotations ex warehouse are as follows: Fine mutton 34s to 34s 6d, edible beef 33s to 345, fair to good mutton 3& 9d to 335 9d, fair to good beef 31s 6d to 32s 6d per cwt. GRAIN. There has been a good demand in the wheat market, and prices have advanced about 2s per quarter. LaHeriy, however, with the advent of fine hot forcing weather and the falling off of the enquiry on Continental account a quiet feeling has supervened, and part of the advance bas been lost. A fair amount of business has been done in Australian for arrival, and 3Ss per 4801 b, c.i.f., would buy cargoes March-April bills of lading, ‘and the same price is wanted for August-September shipment. Oats are about Is per quarter dearer, but with a very poor demand. The market for Tasmanian maple pea« is very quiet, and prices are unchanged. Buyers still have their attention directed to the English pea crop, which, although it will not be a largo one, should, if the present fine weather continues, be of very good quality. FROZEN MEAT. A very slow’ demand has been experienced for mutton, and while, owing to the small quantity of Canterbury offering last quotations have been maintained, for North Island descriptions, wmch are in plentiful supply, less money has been accepted. For some little time after the date of my last report the market for iambs ruled very firm, and values, particularly for secondary sorts, advanced, up to s£d per lb being realised for plain North Island carcases. Lately the demand has shown some falling off, and prices have ruled in buyers' favour. There has been a poor demand for the larger quantities of River Plate chilled beef offering, * and values since my last issuo mark a fall of Id per ib in the case of hindquarters, forequarters showing but littlo change. Frozen sorts have been in fairlv heavy supply, and with but little trade passing, values all round have declined. Latest quotations, per lb ex market, -are: Canterbury mutton 3gd to 4£d, River r Plate chilled beef, hinds, to 4|d, North Island mutton SJd to River Plate chilled beef, fores, SJcl to 3|d, Australian mutton 3d to 3|d, River Plate frozen beef hinds, 3£d to 4d, River Plate mutton 3d to Sgd, River Plate frozen beef, fores, 2£d to 2|d, ewes 3d to 3]d, Australian beef, hinds, 3£d to 3fd, Canterbury lamb sid to s|d, Australian beef, fores, 24c1, North Island lamb 5Jd to sfd, Now Zealand beef, hinds, 3Jd to 4d, Australian lamb 5d to 54d, New Zealand beef, fores, 2£d to Sd.