PRODUCE REPORT

Hokitika Guardian, 14 May 1929, Page 7

PRODUCE REPORT

CHRISTCHURCH, May 11. BUTtER. During the month 'of April the market remained slow and quiet, tup prices ranging from 162 s to 1665. The favourable season in New Zealand, with reports of a production far in excess' of previous records and more especially the fact that the JanuaiyFebruary make did not suffer by dry weather as happened last season, undoubtedly had a depressing effect upon ihe London market, added to which was the rapid recovery in Australia from a threatened drought. Last week there was a distinctly firmer t-one in the butter market and London quotations ran up to as high as 16/s but the latest advices show that , the market is again somewhat weaker. The first days of this month there was quite an active demand by forward buyers for end of season’s make and May shipments and several parcels of .May-June make were sold at prices considerably above present spot London •quotations, sales ranging from Is 5d to Is 5Jd f.o.b. It appears however, that the forward buyers have not continued with their enquiry and generally buyers in the meantime have withdrawn. CHEESE. Cheese lias again been disappointing and although the market has run up to 90s during April, the latest cables rep ,rt that the cheese market is slow, prices declining again to the vicinity of 86s and 8< s with a possibi.ity of a further weakening. There are very heavy stocks of cheese in sight and it therefore does not look likely that we shall see any sudden improvement in quotations in the meantime 1 .