MARKET CONDITIONS.

Hawera Star, Volume L, 6 February 1931, Page 4

MARKET CONDITIONS.

This week’s report on the London butter market is brighter, and wool has taken a turn for the better. The demand for Now Zealand butter is reported to be steady and the market firm. At the Dunedin wool sales on Tuesday prices were better than had been an- , ticipated, and all wool showed a considerable advance on recent rates. Although it must be borne in mind that the wool offered was peculiarly- suited to their requirements ,it is encouraging that the bidding by Continental buyers was very- keen, and Bradford buyers j were not backward. From London and Sydney also come better reports. There we re practically no withdrawals in Loni don, and the market was strong, and in Sydney nearly the whole of an offering of 10,7000 bales was sold at prices that in the circumstances were satisfactory-. Of course, the rise in New Zealand is still very- small compared with the decline in the past year or two, and the industry has a long way- to go before it can be called prosperous, but it looks as if the worst may bo over. If that is so, and f&rmors can tide over the next few months, they will reach a haven of reasonable prices. It is also worthy- of note that there is one primary producer in this country who seems to be really prosperous, and that is the beekeeper. While prices of all other primary- produce exported lias declined, the price of honey- has been well maintained, and the New Zealand article commands a higher price oh the London market than any other country’s product. An article that yields only- £.80,000 a year is a small matter compared with butter and wool, but every- little helps thoso days, and thi> honey industry- appears capable of indefinite expansion. Now Zealand recovered from the bad times of the ’eighties, and with courage and resolution sin- will weather these. Mr Forbes is about to give another lead to the country. He may- have to ask it to make considerable sacrifices, but if he ran point to brighter economic prospers his task will be easier.