PRODUCE NOTES.

New Zealand Times, Volume XXXI, Issue 6870, 14 July 1909, Page 3

PRODUCE NOTES.

fEOil CUE SPECIAL COEBESPONDENT. LONDON. Slay 28. WOOL. Tho third series of London sales terminated on 21st inst, There was throughout a large attendance and competition from all quarters was extremely active, . the American section keenly competing for all grades of crossbred in suitable conditou—less discrimination than usual in the matter cf shrinkage, howc\er, being shown— as well as for the best descriptions of merino.' In these favourable circumstances the course of the market was very satisfactory, the all round advance established at tho ox*ening, in the case of most sorts becoming more marked with, the progress of the auctions, which closed firmly at the best point, the position of certain leading descriptions as compared with the end of March being as follow: —Greasy merino, 74 to 10 per cent higher, except wasty sort abt. 5 per cent, higher; scoured merino 5 to 7i per cent higher; faulty merino abt. same; lamb merino 4 to 10 per cent higher; greasy crossbred fine V*4 to 10 per cent, higher; greasy crossbred (ordinary) 10 • per cent higher.; greasy crossbred (American) style 15 to 20 -per cent higher; greasy crossbred coarso (American style) 35 to 20 per cent higher; crossbred scoured 5 to 10 per cent higher; crossbred slips 5 to 10 per cent higher; crossbred lambs 10 per cent higher.

Of the net available quantity of Lv,iOOB’s, lCß,o(K)Jj’fj were disposed of, of which. 6I } (K)olTs were taken for the Continent and 23,0008’s for America, about 10,000 its being held over for future disposal. The present outlook may be regarded as generally encouraging, though the future course of the market will largely depend upon tho attitude of America, and withdrawal of support from that quarter would have a depressing effect upon the market generally. Values for merinos have now reached a level which calls for caution, yet with a maintenance at present conditions there seems no reason for any set back during the next few months. As regards crossbred apart from the American demand, tho Home and Continental section, if the present rate of -consumption be maintained, should readily absorb prospective supplies, and while the advance in values of the better descriptions has been marked, the shabbier topmaking sorts are still relatively ! cheap. The committee of the Colonial Wool Merchants' Association had fixed the limit of fresh arrivals for the 4th series to commence on. 6th July at 140,000 bales, and has arranged that the sth and 6th scries be unlimited, as to quantity. COCKSFOOT.

The season has now closed and there are practically no stocks to carry forward. No sales have yet taken place m new crop, as holders ideas of value are above those of buyers here, -and operators are waiting for some news as to the American and Continental crops’. In the meantime 55s per cwt c.i.f. for 171 b seed has been bid, but without business eventuating. TALLOW. There have been, four public auctions since my last report. At these there' has been a fluctuating demand, but the market closes steady at about late rttes. Kuissia has been tho dominating factor in the situation, and when support from this quarter has been withdrawn, prices have given away.- At tlie moment there is some Continental- inquiry, and values may appreciate slightly in the near future, but with fairly large shipments and only a moderate trade generally, the outlook is-none too promising. In Australasian for arrival good mixed has been sold at 29s to 29s 3d, whilst for hard mutton under. 48 titre there is a good inquiry at 31s 6d per owt. c.i.f. Latest quotations;—Finest mutton 33s to 33s 3d per cwt; fail’ and good mutton, 31s to 4d per cwt; edible beef 31s 6d per cwt; fair to good beef 30s 6d to 31s per cwt. , NEW ZEALAND HEMP. There has been a fair amount of business passing at about late rates, the advance in Manila so far not being reflected in this market. There is a quiet feeling at the close and prices tend- in buyers* favour. Tho -N.Z.L. and M; report prices as follow:—Good fair "spot"' £22 15s nom.; May-June £22 10s per ton c.i.f.; fair spot <£2l 10s nom.; May. Juno .£2l 5s to £2l 10s; fair currrcut Manila £22 to £23 ss. TOW. In moderate request at £8 10s to £8 15s per ton c.i.f-

FROZEN MEAT.

A very slow trade has again to be recorded for mutton.’ Canterbury light weight carcases, which are in short sup ply, have been in fair request at about last quotations, but other descriptions, the bulk of which are North Islands, are difficult to dispose of, heavy weights, i.c., carcases 601bs and over, being practically unsaleable. Values generally have declined, in the case of North Island to the extent of fd per lb. There has been a fairly good demand for prime lambs, but secondary and inferior descriptions, which are in plentiful supply, meet a poor inquiry. Arrivals have again, been heavy and have proved much in excess of requirements, with the result that prices, more especially for secondary sorts, mark a sharp decline. Shortly after the date of my last notes, with a scarcity of River Plate chilled beef, price© for bind quarters marked, a sharp advance, though lately with larger quantities offering, values have ruled considerably easier. In sympathy holders of frozen descriptions were able to raise tbeir price for hindquarters, New Zealand marking an advance of -Id per lb, and with supplies on a moderate scale (notwithstanding the drop in the values of chilled) prices have been well maintained. Latest Sraithfield quotations: —Canterbury mutton 2£d to 3|d; North Island inutton Ifd to 21d; Australian mutton IJd to 3d; River Plate mutton l|d to 2£d; ewes (New Zealand), l|d to 2d; Canterbury lamb'3£d to North Island lamb 3£d to 4’d; Australian lamb SRi to 3sd. River Plato chilled beef, hds 4£d to Ijd, fns 2.fd to 3d; River Plate Frozen beef, hds 3|d to 3*d, frs 2£d to 2£d; New Zealand beef, hds -3|d to frs 24d to 2|d. GRAIN. A ’large business has been done in wheat at advancing prices, but at the close the market-is quiet. The statistical position, however, is a strong one, and it would appear as if high prices are likely to rule for some time to come. In Australasian, arrival cargoes of Australian off the coast are held for 44s 9d per 480 lbs, whilst prices of Victorian or South Australian May shipment are obtaining at 40s 9d. Fa reels of New Zealand wheat have been somewhat neglected, and 42s 3d per 4Solbs, c.i.f., is being asked for May-June shipment 4 longberried, but without response. A good business has been passing in New Zealand oats at from 18s 6d to 20s 6d per 3201 b, according to grade. BEANS Are firm at rather hardening , prices. Peas aro quiet. Current quotations: —Australian wheat 47© to 41© 3d per -496 lbs. New Zealand wheat (longberried) 4os to 4as 3d per 496 lbs. New Zealand barley 27s to 33s

per 448 lbs. New Zealand eparrowbiil oats 24s 6d to 25s per 384 lbs, New Zealand finest oats 25s to 26s per 384 lbs. New Zealand Danish oats 20s to 21s per 320 lbs. New Zealand beans abt. faq 34s to 35s 6d per 50-4 lbs. New Zealand blue peas 50s to 70s per 504 lbs.