PRODUCE REPORT

Otago Daily Times, Issue 18894, 21 June 1923, Page 12

PRODUCE REPORT

MESSRS W. ..WEDDED AND GO. A . DEPRESSED BUTTER MARKET. .From Our Own Correspondent.) LONDON, May 0. According to the latest report of Messrs VV. Weddel and Co. the inquiry for canned goods lias been very well maintained recently, and business generally seeme to be expanding in a more satisfactory way. Australian and New Zealand boiled beef (best packs) is quoted at from 27s 6d to 32s 6d per dozen tins; corned beef (first grade), 25s to 30s; corned mutton,' 30s to 355; and ox longues, 125 s to 150 a, with a tetter inquiry. • At the tallow auctions in London last week 1716 casks were offered, of which 474 were sold. In the face of a poor demand prices show a reduction generally of 2s per cwt. all round, and even at these lower prices it is difficult to interest buyers. Australasians, in the forward positions, are totally neglected on account of the high prices asked by shippers at origin, and no business is reported. Beef Premier Jus in the near at hand positions is difficult to sell and no business is reported. There continues to be a fair inquiry for shipment further ahead in the JulyAugust and August-September positions although buyers' ideas are in too low a key to be of interest. DAIRY PRODUCE.

Buyers of butter are still very timorous, confining their operations to their immediate requirements only, and until the full effect' of the lower retail prices is felt the future position must remain more or less obscure. Meantime the Danish quotation continues to decline, and during the period shows a fall much greater proportionately than colonial Supplies are also gradually. increasing from other sources, such as France, Holland, the Baltic Provinces, South Africa, and Ireland, and which, taken in conjunction with the present spell of warm summerlrke weather ; is allowing 'a depressing effect on spot prices. The position on the cheese market is more satisfactory, and with recent fairly heavy arrivals steadily clearing, prices have gradually advanced. There is a good inquiry for New Zealand, at 945, 965, up to 98s per cwt. for both white and coloured. The market for the moment is practically cleared of Australian stocks, but further shipments are due to arrive next week. Canadian offers, for shipment next week, are in the region of 65s to 87s per cwt., c.i.f., mostly coloured descriptions. Importations of frozen meat during the fortnight ending May 4 amount to 437,707 carcases mutton, 645,040 carcases lamb, 91 304 quarters frozen beef, and 228,350 quarters chilled beef.

The shipments of New Zealand mutton have met with a very poor demand, and it has been impossible to maintain the values of a month ago. The small and medium-weight carcases, however, -are selling steadily, but the heavy-weights are a drag and are very difficult to market even at present low quotations. New Zealand ewes are not meeting with a very good inquiry, and values havo again weakened. • Present heavy stocks •of New Zealand lambs meet with a poor demand, even at the considerable drop in values now ruling. The market closes weak.