PRODUCE NOTES

Southland Times, Issue 17628, 17 April 1914, Page 7

PRODUCE NOTES

(From Our Own Correspondent) LONDON, Feb. 27. WOOL. Since the close of the first scries of London sales, a marked Improvement has been manifest in the position of the market. The demand for tops and yarns for export America having been a considerable purchaser has been upon a larger scale than for some time past, and values for the former have during the past four weeks steadily advanced. 40's now being quoted at IR’/fed and 60's at 2SVfed per lb. On the Continent also a better tone prevails, prices for wool on the spot having advanced whilst quotations for " futures '' tire fully 5 per cent higher. With dearer markets in the countries of production, the outlook is encouraging. and at the opening of the forthcoming London sales opening next week, for which 1 11.000 bales are available, an advance on preceding series closing rates of from a per cent to 10 per cent is generally anticipated. At the meeting of Committee of the Colonial Wool Merchants Association on 24 th February a limit of net fresh arrivals for the third series of 175.000 bales was fixed. SHEEPSKINS. At the auctions hold from 4th to Cth i February there was an active demand, and the bulk of the offering of 5300 bales Australasian was cleared. As compared with the rates ruling at the preceding sales in December prices generally marked an advance of ’id per lb. but the coarser grades of New Zealand combing crossbred were frequently ’ijd per lb dearer. TA FLOW, There have been four public auctions since my last notes, and at these fair clearances have been effected. The market doses quiet at late rates excepting for fine beef and “ Titre " sorts, which have declined 6d per cvvl. The market has a healthy tone, but from present indications tin improvement in the near future hardly seems likely. A good business has been passing on c. i. f. terms and good mixed lias been sold at 33s 3d. "no colour" mixed at 31 s !'d to 3 2s. and mutton at 34s :5d to 34s 3d per cwt. c.i.f.. but the demand has now fallen off while offers are scarce. Current ex-warehousc quotations : Finest mutton. 35s !hi to 3tis ; fair to good. 34s t>d to 355: edible beef, 34s fid to 35s ; ;tnd fair to good, 34s to 34s 3d per cwt. GRAIN. There has been a fair demand for wheat, and prices have advanced t>d to Is pot* quarter. Stocks arc small, arid will continue so until the arrival of the Australian steamer cargoes about the end of next month. A large business has been done in Australasian for arrival. me last transaction being in a cargo of Western Australian per Storesand at 3fis 6d per 4Solbs, c.i.l. The demand, which has been partly speculative. has now eased off somewhat, and some cargoes tire offering on re-salc. Oats arc quiet, and have declined about fd quarter. Beans are slow of sale, as English of good quality artfree I y offered. Maple peas go slowly into consumption, and 54s per 5041bs has been paid for prime quality. Some sales of new crop New Zealand have taken place at 41s fd for March-April shipment, and sis per 5041b5. c.i.f.. for April-May shipment. Current values; Australian wheat. 37s fd to 35s per me ibs. New Zealand wheat, longbcrriod. 3Gs till to 37s fd per RXiibs. New Zealand wheat, shorlberried. 36s to 3.7s per Rif lbs. New Zealand oats. Sparrowhill, 21s to 22s fd per 32Mlbs. NEW ZEALAND HEMP. The market has been very depressed in sympathy with Manila, and prices nave declined 15;; to 20s per ton. The N.Z.L. and M. quote current rates as follows ; Good fair "spot" £25 10s < nora) ; March-May. £25 15s ; fair "spot." £22 10s (nomi ; March-May. £22 15s to £23 ; and fair current Manila, £27 5s par ton. c.i. f. TOW. There is a good enquiry, but few offers for forward shipment. Near at hand parcels are fairly plentiful, and for these current quotations are : No, 1 quality. £l2 5s to £l2 10s ; No. 2. £ll 15s per ton, c.i.f. COCKSFOOT. There is very little doing in the cocksfoot market. .Some Hdb seed has been sold here at sls per cwt ex warehouse. and holders are now asking 55s per cwt. but without response. New crop 171b seed is offering at 525, while for new crop Danish 50s per cwt is asked, but buyers will not pay these prices without information as to the Continental crop, which will not lie available for some months yet. FROZEN MEAT. In inutton a fair business lias been passing, but with supplies continuing in excess of requirement prices for all descriptions have further declined. For some lime after the date of my last notes on this subject a slow demand was experienced for new season's New Zealand lamb, with the result that in order to make more progress with sales lower rates had to be accepted. Australian has met a good Dade, but in sympathy with the lower values ruling for New Zealand prices are easier. For the moderate supplies of River Plate beef offering a good demand has ruled, with the result that rather more money has been obtainable. There has been a fair enquiry for frozen beef at about last quotations. Current .Smitbfieid values ; Scotch and English meat. 7d to B‘/jd. Canterbury mutton. IV* d to 4-lid. North Island mutton. 4Vfed to 4%d. Australian mutton, 3% d to 4Vfed. River Plate mutton. 3-id to 4%d. New Zealand ewes, .‘l-'-id to 4d. North Island lamb, o-'ijd to 6%d. Australian lamb. sV4<l to 5%d. River Plate chilled beef, hinds. scl to 5%d. River Plate chilled beef, fores, 4d to ■t%d. River Plate frozen beef, hinds. 4’/fed to 4%d. River Plate frozen hoef, fores. 4d. New Zealand beef, binds, 4 ’/fed. New Zealand beef, fores, 4d. Australian beef, hinds, 4%d to 4?id. Australian beef, fores, 3 tad to 4d. Per lb off the hooks.