NEW ZEALAND PRODUCE

Sun (Auckland), Volume IV, Issue 931, 26 March 1930, Page 10

NEW ZEALAND PRODUCE

HOPES FIXED THIS YEAR ON MEAT EXPORT WOOL AND BUTTER DOWN Special to THE SLAV ■WELLINGTON, Today. With the fall in wool values and the certainty that dairy produce cannot return the prices that ruled last season, the hopes of New Zealand this year are fixed on its export of meat. Leading dairy produce dealers consider that the season will wash up well if it returns prices which enable factories to pay an average of Is 3d, against the Is 5d of last season. Latest market quotations are about Sis to S2s for white cheese and 133 s for butter, which latter means less than Is a pound. The general slump in food prices in England thus is reflected in the market. The bright side of the picture is that early gradings in dairy produce were still being sorted up to mid-February and did not get away until later. This means that they have not yet come upon the market, but will be arriving early next month. Some rise in prices is anticipated about that time. One Tooley Street firm advises that northern groups of factories speak very optimistically of their production figures. Quite a number speak of being 20 and 30 per cent, above last year’s figures, while one advises it expects to total 60 per cent, higher. Against this must be set the fact that advice has also been received of a very good season in Australia and an exceptionally mild winter in the United Kingdom, which means higher production all round, and probably lower prices. For this reason, the greater margin of export may not return the difference in the ruling price level. With meat quotations it is too early to determine anything definite. Prime lamb (43/50) is holding well up to last year’s figures, but the 36’s, which arc usually more in demand, are down by Ud when compared with 1929 and 1928. The average of second quality lamb is also id less than it was last year, standing at Sid and showing a downward tendency. However, Easter is considered the opening of the meateating season in England, and from then on the demand is usually relatively steady and prices firm. Wethers stand at the same figure as last year, when the prices remained very consistent, ewes are distinctly higher, and ox hinds are also a penny higher. Prospects, therefore, are not depressing, and good returns are hoped for. In addition. there will be a heavier shipment overseas this year, lamb especially being higher than ever before.