PRODUCE REPORT

Hokitika Guardian, 17 June 1931, Page 8

PRODUCE REPORT

BUTTER. Messrs W. Wad cl el and Co., Ltd, Loudon, have cabled that a backward Spring in the Northern 'Hemisphere, together with the fact that butter stocks in the United Kingdom are small, caused an increased interest in the market, more especially for secondary butters. Prices for all grades advanced sharply throughout the month of May. The first week in June 'brought an increase in Danish supplies and quotations dropped to 112 s f.0.b., equivalent to 118 s on the market. This prevented the continuance of the upward movement and the future is somewhat uncertain and depends largely upon weather conditions and the attitude of the large buyers with regard to forward purchases. Gradings of New Zealand butter have increased, largely due to the switch over to butter by a number of cheese factories, assisted also by the exceptionally fine Autumn experienced. We would draw- your attention to the quantity of butter due to arrive during the months of June, July, and August, which you will see are well above last year’s figures. However, the stock position is still very sound and altogether we loo!? for a steadily improving market.

CHEESE

The switch over from cheese to butter has caused a considerable change in the statistical position of cheese. The- estimated arrivals of cheese during June, July and August are some 8,000 tons less than for the same period last year. However, the cheese stocks available in London at the present time are some 4.non tons in excess of the quantities available at the same time last year. Cheese has shown a considerable improvement throughout the month and ihe latest advices are that the market is still firm. Canadian new season’s Fodder cheese is now available, and it must be .remembered that this generally has a weakening effect on the market.