PRODUCE REPORT

Hokitika Guardian, 12 August 1931, Page 5

PRODUCE REPORT

BUTTER. Once more the London market ha 9 been disappointing. ‘ During the month of July 'a gradual firming took place and prices rose from 112 s on 3rd. July to 114 s on 10th. July, remainrig at that I level until the end of tlie month Which brought about a sudden fall of os per cwt. Messrs W. Weddell and Co. Ltd., London, report that the German financial crisis resulted in a considerable quantity of OoiitinentaL'- butters, both Danish and Balkan/States, being, diverted to the United Kingdom causing buyers to operate •with much caution. Then came the pressure to sell which caused the sudden drop referred to. present prospects are that once more the bottom has been reached, but it is difficult to forecast the future. Much will depend, on the buy. ing power of Germany which will regulate the quantity of Continental butter reaching the United Kingdom. Latest advice is a steady market at Is rise for finest quality. CHEESE.; The arrivals in United Kingdom for August, September, October are estimated at 8878 tons as against 14,343 for the same period last year. This fact alone should have been sufficient to cause a considerable stir in the Home markets, but values appear to have been sentimentally affected by the weakness in butter and whereas a steady market has been experienced, the expected rise in selling values has not materialised. Indications are again, however, for a steady and improving market.