Produce Circular.

Manawatu Standard, Volume XLI, Issue 8196, 24 May 1906, Page 3

Produce Circular.

The N.Z. Loan and Mercantile Agency Company have received tho following produce circular from their London agents:— Wool.—The second series of London sales terminated on 24th ulto. with a very firm tono. Competition throughout from all sections of the trade was animated, the United States bidding freely for suitable parcels, with the result that prices hardened as the sale progressed, and closed at the highest point, the appreciation as compared with the end of the January series being as follows :—Merino, superior 5 per cent., medium and inferior 7 5 to 10 per cent., lambs 10 per cent., crossbred, fine 7£ to 10 per cent., medium and coarse 10 to 15 per cent., and lambs 15 per cent. The total quantity sold was estimated at 125,000 bales, of which 56,000 bales, inclusive of some 11,000 on American account, were taken for export, 7,000 bales remaining on hand for future disposal. Reports point to a brisk trade in the centres of the industry, both at Home and abroad, and there seems every reason to look for a strong market for the raw material, at any rate for some months to come. Sheepskins.—At the second series of auctions of the year, held on tho 22nd and 23rd ult, the offering of 3280 bales Australasian elicited very animated competition with the result that as compared with the rates established at the preceding sales, February Bth and 9th, combing descriptions, both merino and crossbred, were mostly £d and Id, short and shorn par to |d and lambs per lb higher. For some good lines of crossbred combing as much as per lb advance was \ obtained. Tallow. - At the three public auctions hold since our last advice the demand has been well sustained and prices can be quoted 9d to Is per cwfc higher. There is a good enquiry for all descriptions, but edible mutton consequent upon the rise in lard is in strong request and 32s 6d per cwt is the spot value for the best brands The market seems very firm and we do not anticipate a decline in values in the near future. A good business has been done in Australasian for arrival at higher prices and mutton is worth from 28s 6d to 293, and beef and mixed sorts 27s to 28s per cwt c.i.f., whilst a good parcel of edible beef has been sold at 29s per cwt c.i f. We quote: —Finest mutton 31s to 32s 6d, lair to good 29s to 30s per cwt, edible beef 29s 6d to 80s, fair to good 28s to 28s 9d per cwt, and good mixed sorts 28 s to 28s 6d, dark to dull 25s 6d to 27s 6d per cwt. New Zealand Hemp.—The market since our last advice has been irregular at fluctuating prices and only a moderate business has been passing. There is a dull feeling at/the close and rates tend in buyers' favour. We quote : — "Good fair" spot and near at band £31 15s and January-March JS32, April-June £'31 10s. " Fair" spot and near at hand £29 15s and £30, JanuaryMarch £30. April-June £29 10s. Fair current Manila £41 per ton c.i.f. Tow. —There is a fair demand at £11 10s per ton c.i.f. Grain. Since our [last report the wheat market*- has been quiet and business has been within moderate compass, but at the close a firmer tone has become manifest with prices tending in sellers' favor. Largo shipments are afloat for the United Kingdom but a good proportion of these are coming by sailing vessels from distant countries and cannot arrive for some months. Meanwhile stocks here are not largo and with the possibility of a good quantity of wheat afloat being diverted to the Continent, the visible supply for the United Kingdom does not appear to be excessive. A fair business has been passing in Australian for arrival and prices are about 6d per 4801bs c i.f. higher. To-day 30s 9d has been bid for a February cargo of South Australian and 30s 6d for a cargo of New South Wales in the same position, but sellers are holding for 3d more money. There is a better trade in oats and prices havo advanced about 6d per quarter, beans and peas are quiet at late rates. We quote -.—Australian wheat, 33? 6d to 33s 9d per 4961b5; New Zealand (long berried), 31s to 31s 6d per 4961b5; New Zealand (short berried), 30s 6d and 31s; New Zealand barley, 25s to 80s per 4481b5; New Zealand oats, sparrowbilis, 22s 6d to 23a per 3841b5; New Zealand oats, finest sparrowbills, 23s 6d to 24s 6d per 3841b5; New Zealand oats (Danish), 19s to 19s 6d per 3201b5; beans abt f.a.q., 34s to 36s per 5041bs ; maple peas, 36s to 44s per 5041bs ; blue peas, 30s to 40s per 5041bs ; Australian flour, 22s 6d to 23s per 2SOII s. Frozen Meat.—Trade for mutton has again been disappointing. There has been more enquiry for New Zealand, though with this description having been very scarce many buyers have had to give their attention to River Plate and Australian. It is possible, however, that the arrival of several shipments from New Zealand during the last few days will prove more than sufficient ior the demand. A good trade has been passing in New Zealand lamb, though , in face of the large quantities offering ! values for all descriptions have de- ! clined id to fd per lb. _ A fair number 1 of North Island's offering have been

very plain and inferior, and for some of these carcases as low as 4cl per lb has been '4:|A|fStcady demand lias prevailed; for Aast&lian, but owing to siiti/idies being 'plentiful no iinprovejncnr. in quotations can be recorded, i»as been a fair demand for River Plate chilled and frozen beef, anil at the close the former is worth 3Jd to 3yd and 2£d to 2/ ; d, and the latter 2£d and 3d, and 2 : [d and for hinds and fores respectively ex market. Australasian, which is being offered in larger quantities, is slow of sale at prices tending in buyers' 'favour. In view of the, heavy supplies of River Plate beef the outlets for Australasian : continue restricted, and the prospects are indicative of a low ninge of values for some considerable time to come. We quote:—Canterbury sheep, 4.{d to 4.J-d; North Island do, 3{-d to 41, d; Australian do, 2?d to 3£d, ewes 3d to 3£d ; River Plate do, 3£d to 3fd. Canterbury | lamb, od to s£d; JSTortli Island do, 4;td | to 4|d; Australian _ do, 3Ad to 4id. j New Zealand beef, hinds,3;}d, fores 2fd to 3|d; Australian beef, hinds, 2£d to 2|-d, fores 2£d to2|d. Butter. ■— The general demand for colonial has been slow, and prices are again lower by fully 43 per cwfc. The large arrivals of poor quality are to some extent the cause of the weaker feeling, as well as the fact that most agents having dearly bought butter have been forcing sales to clear. We quote choicest Australian, 94s and 95s ; choicest New Zealand, 98s and 995.