PRODUCE REPORT

Hokitika Guardian, 6 December 1927, Page 4

PRODUCE REPORT

CHRISTCHURCH. Doe. 2. The following are the top London quotations for the past four weeks ; Danish butter. November 4th, 19l).s; November 11th, 2(1 Os; November 18tli, 210 s; November 2">fh, 2045. New Zealand. unsalted. 184 s; I.SSs ; 1 fills; 1925. New Zealand, salted 1725; 17(ls; ISOs; 178 s. New Zealand cheese, white, 102 s; Kills , 100 s; 102 s. New Zealand cheese, coloured, 102 s; lOOs; 100 s, 101 s. BUTTER. As shown in the quotations given above, our forecast of a sharp rise and equally quick decline was fully justified. Messrs W. AVeddel and Co. Ltd., cabling on the 29th November, state that fresh landed finest butters were then being quoted as low as 170 s. at which figure it is hoped that the market will ibe stabilised.

The damage to iho “Port Caroline” cargo had. at first, a stimulating effect upon prices, but later on, the marketing of the damaged butter, under direction of the underwriters at a necessarily low figure bad the opposite effect and was largely responsible for the rapid fall now reporter!.

Added to this, however, it is reported that the demand in the United Kingdom has been disappointing, with Australian ‘Kangaroo” brand offering at tods cite, December shipment. Canadian buyers, who have been a. strong factor in stimulating the market. suddenly withdrew, but with a. leturu to lower levels and no doubtassisted by the possibility ol increased duties, once more entered the market and sales have recently been reported f n r De< emher-.fanuary shipment to Canada at equal to Is 4icl per lb f.o.b. Sales have also been made for tin* United Kingdom at Is 4.1(1, whilst Xew York buyers are also shewing interest at this price, indicating the possibility of n steady market during the tlnsli months. The estimated arrivals in the United Kingdom during Deceniher-.Tanuary from New Zealand will he somewhat heavier than last year, approximately In.ooo tons, as against 12.000. CHEESE. The market has not shewn very much movement and lias been steady fr.tm 100 s to 102 s. The quantities of new season’s which have arrived so far, have been very small, hut with the heavier arrivals during December, the market is likely to weaken slightly during the month.