PRODUCE REPORT

Hokitika Guardian, 11 April 1929, Page 3

PRODUCE REPORT

Roller.—During March wo have experienced another very disappointing inontii as far as prices for New Zealand hut-tor are concerned. Quotations at iho beginning of the month were down to 1.71 s but each week lias shewn a further decline. Messrs W. Weddel and Co. Ltd. cable that the fall in prices lias been due to the collapse of the Continental markets. There lias been a great lack of German buying, which lias caused the Danes to press extra quantities fov sale in tin* United Kingdom. Danish quotations have, therefore, been very much reduced and considerable quantities were sold ns low as 150 s ’i.o.h. Denmark last week. Other factors that have caused the drop in prices have been the lieav\ quantities of New Zealand butter afloat and due to arrive* during the next few weeks. The Australian production lias also been maintained and the l:cav,\ gradings in Australia have tended t< increase buyers’ nervousness. Buyers generally have been adopting the polio' of operating very sparingly, but on the other hand, it is reported that stocks in store. London are only 5,000 tons against 11.000 tons this time last year

Messrs W. Weddel and Co. Ltd. ad vise us that, they think the market is likely to remain steady in the meantime.

Cheese.. —With the somewhat improved market at the beginning of March it was hoped that prices would be maintained, hut again quotations have fallen slightly and whereas white and coloured New Zealand cheese were quoted at 91. s at the beginning of the month, present prices are down to 87s. .Messrs W. Weddel and Co. Ltd. cable that the cold weather is still retarding consumption and stocks ol choose are heavy. They also are inclined to think that cheese prices will remain fairly steady in the meantime with an improvement as warmer weather is experienced.