The Guardian (And Evening Star, with which is incorporated the West Coast Times.) FRIDAY, NOVEMBER 23rd, 1923. PRICE OF DAIRY PRODUCE.

Hokitika Guardian, 23 November 1923, Page 2

The Guardian (And Evening Star, with which is incorporated the West Coast Times.) FRIDAY, NOVEMBER 23rd, 1923. PRICE OF DAIRY PRODUCE.

Bitteii, contrary to expectation, a contemporary remarks, lias risen in price lately on the Home market. On October 35), Xe« Zealand salted butter was quoted in London cablegrams at from 18t>s to 19Us per c"t. Hy November it had dnipped to Irom ISo.s to 188 s. and the outlook was gloomy, one message stating that the decline was duo to holdeis of old New Zealand produce forcing the market low*or, with a view to cleaving stocks liefore large consignments arrived from overseas. A week later, however, the positu n had improved. New Zealand salted was quoted at from ICOs to 192 s. The rising tendency continued, and later quotations for salted butter were:—November 13, 190 s to 1945; and November 10, 200 sto 204 s per cewt. In spite of this increase, present quotations all round are very much below the prices ruling f> yr<vr «g«, Tht* New Zffttond

article then; stood from Os to 8s per cut. butter, when as now, the Dominion article was at the best price for t!ie oversea commodity, eclipsing both the Australian and the Argentine article. It is very dillicult to predict the future in the matter of produce prices. What is likely to happen within the next month, or even the next week, it would be ra-h lo nredict. A North Island authority, interviewed in Auckland a few days ago. said that reports from the United Kingdom were very hopeful. The United States was making lioav'er demands on the Canadian butter surplus, and Australian production had fallen (his season by 33 per nuii. Front olhdt sources there i.« <(Milirriiation of the latter statement. Messrs W. Weddrl and Co., London, in a cablegram* sent oil November 9. remarked that advirts still pointed to the fact that .shipments of Australian butter would lie considerably less than last season. To set against this tlieic is the news that Siberia. Latvia and oilier countries which have Iren oil' the market since 191-1 are again making a determined effort to secure a looting on ihe London market. In the first eight months of the year the* sent to the United Kingdom 3.3.553 cw t. as against 30.678eut for the corresponding period in 1922. It must also he re-in'-inhered that itnpoi tors at Hume look loi lower pi ices "hen heavy arrivals of new season's produce come to hand from the Southern Hemisphere. In legat'd to cheese, cablegrams .-tale that the maiket is firmer, and that the immediate future looks more Impelnl. A* the same time, prices aie lower than they were- two weeks ago. Shipments have, been very much heavier tlnm in U)2l and 1922. All round, therefore. developments in the dairy produce trade are hard to forecast, sa complicated is the situation. When retail prices go over a certain point the demand bills oil. When they drop, consignees sillier. The best produrois can hope* for is an catly solution of Britain's unemployment problem. That is the crux of the position.