COMMERCIAL

Hokitika Guardian, 15 May 1931, Page 3

COMMERCIAL

PRODUCE REPORT. CHRISTCHURCH, May 12. Al.essr B A. H. Turnbull and Co.. Christchurch report:— BUTTER. The market was steady early in April but a decided .’all of 3/- per ewt was experienced in the (week ending April 17th, but the market quickly recovered again to 110/-. With" the beginning of May a further weak-' cuing became evident and prices have dropped since the last week in April from 110/- to 104/6 for New Zealand salted. Messrs W. Weddel and Co. Ltd., cable us that the continued heavy .shipments and gradings of Australian butter have had a detrimental effect and an additional -cause oi weakness has been the,; collapse oi the Continental market. It will he not h that the Danish quotations have droprj)cd A’f A l’i as against New Zealand stalteds 6 The stock position of butter is still very sound and the estimated stocks in store in the United Kingdom at the end of M iv were approximately 9000 tons as against 21,000 tons at the same tun last year. With retail prices 1/- to 1 /i lor New Zealand the deliveries haw*

been well maintained. Our Principal have cabled us that the market has been very erratic, hut they think that bottom has now been reached although they do not anticipate nnv great change in the market In the immediate future.

CHEESE. The cheese position has become weaker again, and unfortunately, the stock position is still lar from bright. 1 lie quantities of cheese both in the United Kingdom and afloat and in New Zealand are heavy. The retail price has been reduced to 7d per lb., and deliveries of New Zealand cheese ex store are showing a decided improvement, but even so it is impossible to feel optimistic about the immediate future. Messrs W. Weddel and Co., Ltd. cabled us that the weather still continues unfavourable to cheese consumption, and with Canadian fodder cheese now being offered at 48/- eife., they do,jvut anticipate any immediate improvement Hi the market. ..