PRODUCE PRICES

Hokitika Guardian, 13 December 1929, Page 5

PRODUCE PRICES

BUTTER, The steady fall in values which commenced about the middle of October continued throughout November, closing quotations being from 162 s to -68 s with quiet market, and it yet remains to he seen whether even the Xmas trade in the United Kingdom will stop the downward movement which has almost become a slump. Messrs W: Weddell and Co. Ltd. cable that there is a distinct lack of confidence and new season’s finest grade New Zealand has freely been offered at 166 s and Australian “Kangaroo”, at 164 s whilst forward offers of Australian December shipment are being made at 154 s e.i.f. Reported heavy production in Australia and New Zealand, and u.e fact that Germany proposes to double the import tax on butter from January Ist. has added to the lack of confidence referred to, and has caused buyers to restrict buying operations to their immediate requirements. In the meantime future prospects are not at all bright and still lower prices are to be expected.

CHEESE. The market has been irregular but the month closes about the same level as it opened. Supplies of New Zealand cheese have been comparatively small especially of White Cheese which has resulted 'in a premium of 2s per cwt., over Coloured. This will, no doubt, quickly disappear as heavier shipments become available. London reports a poor demand and consequently expects slightly lower prices as stocks are increased. Messrs. W. Wedclel and Co., Ltd., also report that many of the arrivals to-day are immature and some buyers are consequently complaining of quality. wmnmmaaammmaßuumm