PRODUCE REPORT.

Hokitika Guardian, 23 April 1926, Page 4

PRODUCE REPORT.

CHRISTCHURCH, April 20. Tho following are the top weekly quotations'," as received from Messrs AA'. AAeddel and Co. Ltd. London:— BUTTER. Danish butter, 180 s; New Zealand, unsalted, 1765; salted, 1745; New Zealand cheese, white 90s; coloured, 975. Butter quotations have'remained remarkably steady for the past month at 174 s *to 1765. Latest quotations show a falling of 2s oh last week’s prices, this being mainly occasioned by the fact that the Danes have again reduced their prices, their cjuotafioiis being at 180 s, as against 194 s a month afco. Tho fact that Danish, butter is quoted down as low as 180 s is having a depressing effect on all blitters. Tinless ah unexpected Continental demand arises, we do, not anticipate there will be any firming in the near future, for although the statistical position as far as New Zealand is concerned, is strong it must be remembered that there are very heavy supplies of butter being herd off the market in London and these will have to lie cleared during the next few month's. PRODUCTION.

Gradings for March show a slight decrea against the figures for the same lhoiith last year. The shortage iif butter production for 'the eight months up to the ciid of Afarch, as compared with last season, is 9,000 tons—shipment for this period being 7,000 tons less. From allotments which have been niaije for shipment, tlie arrivals during May ail'd June will be liiiieli the same as last year, and it looks lis though the arrivals during July. August and September will iiot show any increase on last year’s figures. AUSTRALIA. There has been a fair demand for high grade blitter for Melbourne and considerable quantities have seen sold aiid shipped as high as Is fid per lb f.o.b. New Zealand factories have now advanced their prices and Australian buyers are not showing the same, interest' at tlie advanced rates. If Australia could absorb some of the 11,000 toils now awaiting shipment, it would certainly assist the position in the United Kingdom and make the prospects of these countries brighter. FOTIAVATIU BUSINESS.

As far, as the United Kingdom is concerned, buyers are showing practically ho interest in forward butter at the present time. Sales were made at roiirid about Is i>jd and in some cases a fraction higher about a fortnight to three weeks ago,„hut,tlie,inquiry seems to have fallen off altogether. CItFKSE.

The market is somewhat weaker today, than it lin"s been so far this season. and in view ol the I act that arrivals during Alay and June will not show liny falling off in comparison with last year’s quantities and also taking into consideration the fact tliat we liave 13.000 odd tons of cheese in store in New Zealand, ns against 6,000 last year, we do not anticipate any firming in prices. As far as we can judge at the present time, it looks as if Olir arrivals during July, August and September will lie much heavier than they were last year and if this cheese has to copies into competition with the flush Canadian make, we might find a further weakening aiid possible fall in •prices. However, the cheese position depends very milch on the climatic conditions in the Northern Hemisphere during the next month or two, and it is rather early to make any definite forecast. It must he borne in mind that we have an increased production this season of 3,000 tons, whilst shipments have been held back, leaving a much greater quantity to be marketed during tho end of our season, in possible competition with tho Canadian make. ~ „