WELLINGTON NEWS

Hokitika Guardian, 2 December 1925, Page 4

WELLINGTON NEWS

THE IH'TTKK MARKET

(Special to “Gu&rdivi”.}

AYKI.I.IXDTOX. November lift. A good deal ol' anxiety i- lelt by (hose engaged in tlio export, ol dairy produce over the outlook tor butter. A promising normal season has boon made uncertain and unpromising illrou ;h the delay to shipping caused by tbe strike of British seamen. The first steamer to pet away with any coil •'idem hie quantity of new season s lull ler was the linahine, which tool: ever l.Tl.(tfX) boxes, and the s.s. Arnwa has since arrived hut her shipment was a very small one. It is stated that no New Zealand butter will arrive on the British market between November -2 and December 17. Imt alter that dale the arrivals will he heavy, there will lie no shortage of butter for the ( hristmas trade, at all events the arrivals of New Zealand butter in December will lie normal. It is in danuary when trouble will he experienced. It is expected that 1-1.01 if) tons of New Zealand butter will he landed in Knglnud in January. This is of! per cent, more lfen was landed in January last and ; ~,|uul to about 20 per cent ol the exportable surplus. In addition to thi- ii has been ascertained that DJld'l mus ot I.utter trom the Commonwealth will he landed in London in January, am! (.hero is also the Argonline onnlriluition to lie taken into account, which at present is an unknown quantity. With oo.i a ii» ion-- of New Zealand and '. usi i alia n butter in store and in sip-lit v ith more to lollov. the effect ~,, prices must he disa-irons. This is mo an cxaAgerated view for at the height ot the strike New Zealand but ter was quoted in Loudon at »ls to JJCs. hut as soon as it was known that th<> Buahine had • ailed with Bio.IKIt) boxes prices dropped Ills to 1 I- per ewt and fell a I’ui'll.er its and the price now i- 20is-. whieli represents a fall of .‘lfls peioewi on the peak prii e-. ruling in Oetoher. The markei is humid to ease steadily uuili r the weight ol the importations, there is no help for that, hut there is danper of a collapse and it seems deJrahh- that something should he dmm to minimise the efleets ol the exeessiie

.■.applies. The Dairy Contnd Board it it rigidly appreciated its fiinetioiis. would take the initiative in the mat ter, hut there are some people who think that the Board will do nothing because it would sene the purpose of the advocates of compulsory control to ,ii. a collapse of the market this season. They could then say that with eompulsorv control the market could have been held up. or at least the measure of the drop would have been much less. However, the matter has not boon left entirely to the Control Board for the exporters have reviewed the situation and have invited tne cooperation of the importers in a scheme tor regain I in:; supplies to tile trade and thus preventing a glut. I here is no hope oi preventing a drop io prices aad a lairly substantial drop, hut it is hoped to prevent a costly slump. TDK .\IK AT Tl! A DK. Anxietv in the frozen meat trade continues, and most people are wnnderiin; ahat is going to. he the upshot of the present position. The losses have been verv I.envy, several companies hemp reduced almost to the verge ot bankruptcy. The present conditions of the trade cannot he allowed to continue, Imt how are they to he remedied ? It is true that tile prices ollerir.g for fat sheep and laiuli are very niileh lower than at the openin'! of the last season, but that i- not all that there is Lo it. There will L-■ the sine I con < enilietil i-m lor stock' a- ill the 11 ;ist and ibis competition v.iil tone up prices. !-'u ll hermore it is probable that fewer farmers will venture upon freezing on their own account and tlaI I cerate-: companies that eater lor this --la--,, of bu.sine.-s are likely to he sulterTh real trouble in i lie frozen It Dade is the ex( essive number ■ •' treoziup c-i.moanies p-irtienlarly in th" will not reopen for the present season, and it is a mystery how they will be able to meet their charges. I-, f whether open or closed expenses me going on. According to Ur .1. D. Cramsie. ( hairman of tlm Australian Cnvaers’ Association. who has iu-t returned to the Connuoiiwealt h. men well up in the trade in (.oiulon had told him while there that they hoped to secure tile co!.<>rilimi tion or reorpa nisatioii ol the meal industry in New Zealand, a.s at present the many meat works operating a fleeted., in many ways, both treatment and sliiopiup. It is quite evident that something must lie done, and done very soon, if further loss-'s are to he avoided. The position link been allowed to drift, hut that ramint he tolerated imv longer.