PRODUCE PRICES

Hokitika Guardian, 13 June 1930, Page 2

PRODUCE PRICES

BUTTER

Messrs AY. Wedel and Co. Ltd., cabling 3rd June, state that the butter market has been disappointed through out the whole month, the slowness of the market being largely due to the cessation of Canadian buying. Another fact that has kept prices on the low level has been that the Danes are freely offering their full grass butter' be* low the price which they have been asking for their mixed feed butters, a thing that has never occurred before.

Although the market has apparent ]y reached bottom they do not anticipate any material rise meantime. Tlie statistical position of butter is certainly a little better in spite of the fact that the estimated arrivals of New Zealand butter for May, June, July and August show an increase of approximately 6,000 tons over the same period last year. However, the stocks in New Zealand have been considerably reduced during the month an« tlie May gradings are only on a par with last season.

The position of stocks in America shows a slight improvement although they still have a surplus over and above their usual stocks at this period of the year from 6 to 8,030 tons. There has been a slightly better demand for butter during the month and it is to be hoped that this will be maintained.

Quite a fair interest was shown in forward butter for Canada during the first half of May, and a number of sales were made; but just when the business seemed to be getting on to a steady footing, the buying suddenly ceased.

CHEESE

The market has weakened throughout the month, chiefly on account unfavourable weather conditions. However, since the beginning of June the consumptive demand has increase and the position looks a little brighter. As pointed out previously, the statistical position of cliee.se is sound, but with the general had trading conditions, one must be too optimistic.