PRODUCE REPORT

Hokitika Guardian, 16 November 1931, Page 8

PRODUCE REPORT

The following are,the London means quotations on November 7 th:— BUTTER. During the month the market has been steady. Messrs W. Wed del and Co. Ltd. now cable us that on the publication of the results of the election the market strengthened and a general, wave of confidence was felt in practically all trades, but the benefit, as far as butter is concerned, has been off set by cheaper offering® “Kangaroo” butter, and our principals now advise- :u-s that the market is weakening on this account. “Kangaroos” being freely offered for November shipment at 105 s cife. The demand for butter is somewhat quieter and most of the larger buyers are only operating from hand to mouth. There has been very little forward enquiry during ithe past month although some buyers have been - available at round about Is fob. for NovemuerDecember shipment. The stock position of New Zealand butter, in London must be considered satisfactory, butt the estimated arrivals during Novem-ber-Deeember and January show an j increase of about 4000 items over la st year. It is hoped that this additional quantity will be absorbed without any great weakening in prices. CHEESE. The cheese market has been fairly steady throughout the month and this has been assisted by the fact that Canadian offers have been on a much higher level due to- the exchange position. The quantities of cheese afloat have been below normal and it can be seen from ithe figures set out above that the estimated arrivals durmg Novembcr-December and January will hie about 3000 tons les-s -than for the same period last year. FUTURE CONDITIONS. Messrs W. Weddel and Co. Ltd., in their cable, advise that under the present) abnormal conditions it is practically impossible to attempt to forecast markets.