PRODUCE PRICES

Hokitika Guardian, 17 May 1933, Page 2

PRODUCE PRICES

BUTTER,

Throughout the month, the market has (remained dull with little doing, but early, in May there wa s a distinct improvement. The reports in London of the reduced production in Australia iand 'New Zealand, helped to restore some confidence in the position end operators proceeded to buy protective stocks and heavy buying resulted'; also some speculators came into the rnarhet and t-hug • forced prices up ; the market rising from 69s to 73g to 74-5. However, with the improvement in price, a number of buyers were prepared to take their prdnt and the market at; the moment is slightly easier, but is reported as being steady.

CHEESE.

Cheese has also shown an improvement arid as 'usual followed the sharp rise i« ’butter to some extent. The weather being experienced in London at the present time is very favourable to consumption and it is expected the market to improve.. There is still■ r .a shortage of coloured cheese which is maintaining a 5s to 6s premium over white. , .

FORWARD SALES,

There has been more inquiry for forward butter and cheese during the last ten days, than for some time, and quite a considerable quantity of butter ha s been sold forward at prices ranging from &£d to the vicinity of 9d per lb. whilst -cheese has been soict rorwar-u at round about 4-£d to 4£d per lb. The forward inquiry i,n the fast day or two has been somewhat quieter.

AUSTRALIA.

The productio n in Victoria is falling very rapidly and for the week ending '- April 23rd., only some 7,000 boxes of butter were graded for export as against 23,000 for the same week in .1932. The general conditions in Victoria are reported to be very unfavourable to butter production at the moment.