PRODUCE REPORT

Hokitika Guardian, 10 May 1928, Page 4

PRODUCE REPORT

CHKISTCHUItCH, \!..y p. The following are the top Loudon quotations for the past four weeks: Danish Rutter: April 13th, 182.5; A"rii 20th, 180 s; April 27th, 182 s; May 4th, 180 s.

New Zealand, Unsaltod: April 13th, 17(is; April 20tli, 1745; April 27th,, 170 s; May 4th, 1725. New Zealand, Salted: April 13th, 168 s; April 20th, 168 s; April 27th, Kids ; .'lay 4th, 1665. New Zealand Cheese, "White: April 13th, 975; April 20th, 98s; April 27th, 97s ; May 4th, 98s. New Zealand Cheese, Coloured : April 13th, 97s ; April 20th, 98s; April 27th, 975; May 4th, 98s. Butter.—Throughout the month the market has been rather slow and dragging with a weak tendency. The latest advices are that the spot market is slow. Messrs W. Weddel and Co. Ltd. have cabled us that the chief cause for the weakness in butter ' quotations throughout the month has been the heavy arrivals of Australian butter and the pressure of Australian sellers to clear their stocks. Kangaroos have been quoted down as low as lo2s and with large quantities of Australian butter being o'ffered at this figure, it has been difficult to keep New Zealand prices up to 164 s to 168 s. Our prmcipjils advise us that nl though the market may show even some further weakening, they are of opinion there will ho an improvement towards the end of the month or early in June, when they anticipate that the bulk of the Australian offerings will be cleared and the pressure of Australians to sell will have ceased. The future will depend very consider-

ably on the weather conditions in the Northern Hemisphere and present reports indicate that an early spring

with a flush production is likely. A bright aspect of the future is that stocks in New Zealand amouiu only to some 5,500 tons as against 10,700 tons at the same time last year, so our ship-

ments from New Zealand during the next few months will be considerably less than this time last year and should have a good • effect upon the

London market. Forward.—Forward buyers have shpwn no activity during the month of April, hut since the beginning of May there have been some enquiries for forward shipment and sales have beeji 'made at from Is JJd to Is -14 d for April-May make or May-June shipment. Cheese.—As anticipated in our previous report, tlie market has through the month of April, been somewhat weaker and the consumption has been checked ! owing to the cold spell. Latest advices, however, point to an improvement in the market and Messrs AY. AYcddel and Co. Ltd. are of the opinion that prices are more likely to advance than decline. As in the ease of butter, stocks of cheese in New Zealand g-bre very much

less at tho end of April than they wero at the same time last year. Stocks amount to only 0,300 tons as against 12,900 tons last season. AVe are of the opinion that the cheese market will remain steady and firm, at any rate until fair quantities of Canadian make become available.