PRODUCE & MARKET REPORTS FROM DAY TO DAY

Evening Post, Volume CXX, Issue 99, 23 October 1935, Page 14

PRODUCE & MARKET REPORTS FROM DAY TO DAY

MARKET DEPRESSED

FALLING PRICE OF BUTTER

The New Zealand Producers' Cooperative Marketing Association received the following cablegram today from its London office:— The New Zealand butter market is j depressed and is declining. Jfinest grade, 116s to 117s per cwt: first grade, 114s to 115s; Danish, 134s per cwt. •..'.; The New Zealand cheese market is quiet, white and coloured 59s per cwt. Joseph Nathan and. Co., Ltd., have received from their principals, Trengrouseand Nathan, Ltd., London, the following cabled advice, dated October 22:— . New Zealand butter, nominal. No ■business is doing. Finest, 116s to 117s per cwt; first, 114s to 115s. . New Zealand cheese, 595. GISBORNE PAY-OUTS. Gisborne dairy companies have decided to advance Is Id per lb on September butter fat. This is the highest advance since 1930 and is among the highest current payments reported in New Zealand. The Kia Ora Cooperative Dairy Company, Limited, is distributing £11,929 to suppliers, exclusive of merchants' accounts, compared with £7180 last year, the increase in total payments representing about 70 per cent., in spite of the docrease in output. The September advance last season was 7d. The Okitu Co-operative Dairy Company, Limited, is also paying Is Id, the highest advance since 1930. DECLINE EXPECTED. "Such kite-flying does not portend stability," commented Mr. John Fisher, chairman of directors of the Farmers' Dairy Federation, Ltd., whin speaking of the present price level of New Zealand butter on the London market at the recent annual meeting of the federation at Invercargill. "It is not wisa to anticipate steady prices round about 125s and 127s a cwt for the whole o£ the season. In fact, those who profess to have their fingers on the pulse of the industry predict that there will be a drop of approximately 7s to 20s "in about two months."