COMMERCIAL

Hokitika Guardian, 15 April 1931, Page 3

COMMERCIAL

THE BUTTER MARKET. Although it was anticipated that the butter market would show some weakening during .March, the actual tail ill butter quotations lias been greater than expected. Whilst it is recognised that Ala roll and April are weak mentiis for butter in the United Kingdom, chiefly owing to the tact that the Northern Hemisphere Spring butter is becoming available, it was hoped that this season, owing to the strong stock position, that we would not see the usual seasonal decline. New Zealand butter quotations have fallen from 119/- on the 13th March to 111/- to-day. a, drop of 8/- for the month. Messrs W. Wetldel and Co. Ltd. cable u s that one. of the contributing factors to the fall in prices lias been the heavy Australian gradings, which have apparently caused some weakening in the minds of the Australian producers. No doubt the anxiety to'sell has been further acccptuated by a feeling that the present high premium for Australian exchange on London would he lowered. Australian "Kangaroos” have been offered freely for April shipment at 104/- e.i.f.e. One interesting point- to note is the fact that the Danes have reduced then* prices since the 14th February by 31/as against the fall in New Zealand prices for the same period of 11/-. Messrs. AY. Weddell and Co. Ltd. advise that the stock position is good, compared with last veal' and the os’ timated stocks on the Ist April are 130,060 boxes as against 500,000. The retail price for Now Zealand butter lm s been reduced again to Ltd. and onr advices state that a steady market mav he expected. CHEESE. The cheese market has also declined during the month and the better demand which was setting in at the beginning of Alarch seems to have been checked, and the stock position which has been, had for many months, has not improved. There are large stocks of cheese'in theT7-K. ; the consumption owing to iiiv'avouruble weather has not been increased, as was expected with the low prices riding. The larger cheese buyers are operating smilingly. Messrs AA r . AYecldel and Co.' Ltd. state that they expect littb* change in the present quotations in the meantime.