WELLINGTON NEWS

Hokitika Guardian, 25 November 1925, Page 4

WELLINGTON NEWS

THE BUTTER MARKET.

(Special to “Guardian”.)

WELLINGTON, Xovemher 23.

Many interested in the dairy produce trade arc becoming anxious as to the future. The general opinion appears to be that between now and Christmas the market will be good, for comparatively little New Zealand or Australian butter can reach the market before the end of the year but in January about Id.ooo tons of New Zealand butter will be reaching England and it is probable also that a considerable quantity of Australian butter will he arriving then, What effect the heavy supplies will have on values remains to he seen, hut this abnormal -apply must influence the trade is obvious. The question arises as to what is going to he done to counteract the effects of this over-supply of butter:' The fact that: 'heavy shipments will be arriving in England in January is owing to the strike ol British seamen upsetting the normal sailings of overseas steamers. By the end of this month practically all the butter in store and available for shipment will have lifer, placed on hoard and all fresh supplies will he speedily lifted. Later on there may he an interval hut that will dciKUid a good deal upon circumstances. However, we have to hear in mind that the importers ol dairy produce are very keen business men who are likely to make the most uf the excess supplies which will he available in Jaminrv. Xu doubt sintie

efforts will be made to uphold the market by bolding supplies in store and rc-Ica-ing moderate quantities each week. Bui there will -till he the prc-Mire ol supplies for diipirents will continue to go forward both irom here am! Australia. The -trike ol British seamen, has created a new anil diliicuii situation in the British butler market, and it is doubtful wchther by any scheming it will he possible In avoid a break in prices. It only requires an early European spring with a heavy Continental make of butter to complete the dillieultie.s ol the situation. The Dairy Control Board will he put to a very severe Lest in handling the situation. Il seems certain, however, that the prices 111 butter will lie on a lower basis in January, lower than hah been known for some time, the weight, of the shipments together with the tact that consumers are unable to a (lord the high prices will operate against the market. Eurthermore there will be no Wembley Exhibition to attract visitors to Britain. THE WOOL MARKET. At the Xapier sale held on Friday last there was practically a repetition of the conditions that were noted at tlie Wellington sale. The representatives of Continental houses gave tlie market full support with the Americans picking out the special classes ol wool that suits their market amt paying top prices for same. The Bradford buyers were again silent which is very significant. Either current prices are too high for Bradford or they preter to wait until the Continental demand is satisfied and then come in and buy more cheaply. Whatever the meaning of Bradford’s silence it is obvious that without the support of this buying locality the market must sag. Indeed prices did. show a little weakness at Xapier and this may lie emphasised at the Wanganui sale. The wool prospects are not quite satisfactory, and they will not he satisfactory until Bradford resumes buying. The large proportion of the wind sold at Wellington and Xapier consisted of old stocks for which the owners refused much higher prices than are obtainable now. The London sales begin on Tuesday, Xovemher filth, and many anticipate an advance of L 0 per cent, and if this is obtained il may help to give some tone to the local sales. Sales in Australia Imre boon 'good especially in Brisbane, but on the other side it is n-eriuo wool that b, being marketed and there is a good demand lor that class of wool. On present indi'-a i ions eros-hroil Won I i- uni likely to Me ally better prii «>.< than wei r u gistered at the Wi llinglon -.ale. with a probability that prices will go lower. With wool and fat s.'oep and lambs lower the shcepfarnier ol New Zealand who last season had a very happy lime will this season have occasion to indulge in very strict economics.