TRADE REVIEW.

Ashburton Guardian, Volume 58, Issue 36, 22 November 1937, Page 5

TRADE REVIEW.

WOOL SALES IN LONDON. THE DECLINE IN BUTTER. (United Press Association—Copyright.) . LONDON, November 20. Withdrawals from the wool sales are less frequent. Toward the end of the week,,competition improved in all sections. The industry is experiencing serious difficulties through the steady fall in prices. Optimists maintain that inquiries .received indicate that a good deal of business is waiting to be placed directly confidence is 'restored in the conditions. The crossbred section of the trade is difficult. Quotations vary so widely that traders have no reliable guide to replacement costs. The London sales have not given much help. Attention is now concentrated on the opening of the New Zealand selling season. Stocks of crossbreds in Yorkshire are lighter than usual, thanks to the large demand for decorations at Coronation time.

The catastrophic fall in butter was checked at least temporarily. The tone is steadier, but there is little real confidence in the future. Buyers seem convinced as time goes on that lower prices will develop. The total imports of butter from all sources in October were 35,300 tons, compared yvith 38.870 tons last year. The principal decline in supplies was from Russia. Stocks in cool store at November 6 were 10,070 tons, compared with 21,290 tons last year. In contrast to butter, stocks of cheese have increased, and totalled 10,090 tons at the beginning of November, being 3250 tons more than at the same date last year. Last week’s improvement has not- been maintained, indicating that in the early seventies cheese is high enough." There has been a- wave of egg-buying owing to the small arrivals. Values will possibly appreciate in the coming week.