PRODUCE REPORT

Hokitika Guardian, 13 November 1930, Page 4

PRODUCE REPORT

' Butter :—Throughout October the butter market has been weak and depressed more partiularly Colonial. The man cause for the depression in Colonial butters lias been the cheap offering ot Australian Kangaroos. The Australians are offering their finest butters for shipment in NovemberDecember at as low as S4s c.i.f.e. It is .reported that there 1 is difficulty in arranging advances on consignments, which creates the tendency to sell and Australian Importing Houses are ready buyers of butter in order to assist them in the transference of their credits to London.

London buyers are also somewhat nervous owing to the heavy production in Australia and New Zealand. Consequently there have been little interest shown in forward business. During the last few .days there has been an enquiry on behalf of London buyers at 10£d. per lb. nett f.o.b. ocean steamer. Although lower retail prices have undoubtedly increased the consumption of butter, there is still a lack of confidence and large buyers are only operating as supplies are required. . Cheese:—The market has been steady throughout the month but Canadians are offering their cheese forward at rather lower figures. There are fairly big stocks of old season’s New Zealand still to be cleared ,nnd as a pro* portion of this cheese ie not in first* class condition, it is causing a some* wlmt wearker market.