COMMERCIAL

Poverty Bay Herald, Volume LIX, Issue 17909, 13 October 1932, Page 2

COMMERCIAL

LONDON BUTTER MARKET FIRST GRADES WEAKER The market l'or New Zealand first grade butter has declined considerably during the past few days, and the difference in the values of first and finest grades lias now extended ui> to 12s per cwt. Finest values have declined -os per cwt. from the value at the end of last week, but to-day's report indicates that there lias been no further fall since yesterday, for there appears to be a scarcity oi finest ih London at present. First grades declined from up to -is further since yesterday's quotation. Although the position seems- serious for the first grade butter, Gisborne interests are not affected at present, for all old stocks have been cleared, while the first of the new season’s- make from Gisborne will not be arriving in London until November 7, and should not be available for the market until about a week later. It is hoped that the market will recover before that time. The early season’s manufacture usually has a larger percentage of first grade butter than later in the year, but Gisborne is fortunate that the finest exports exceed the first grade, even at this period. However, the market is being watched closely by Gisborne dairy companies, who, though concerned with the fall in the first grade prices, are gratified that the finest figure is being maintained at something approximating recent value.

Joseph Nathan and Company report receiving the following advice I com London under yesterday’s dale:“Blitter prices are only nominal, finest being quoted at 112 s; first grades sold to-day down to 100 s. No business- is doing.” . Daleety and Company have received the following advice from London, dated October 12:—"The butter market is Weak. .Quotations: Danish, 116 s to 120 s; New Zealand finest. 102 s to 112 s; Australian finest, unsalted 104 sto 106 s;. salted 98s to 102 s; g.a.q. 96s to 975. The i-heese market is quiet. Quotations: New Zealand, white 65s to 665, colored 60s to 615.” The New Zealand Loan and Mercantile Company have received the following ad vice from London, dated October 12: “Butter, finest. 110 s, first grade 102 s to 104 s; market is slow. Cheese, white 65s to 65s 6d. colored 60s to 61s ; market is quiet.” RETAILING N.Z. MEAT The New Zealand Meat Producers' Board lias been advised ; bv its London manager that the following prices were being quoted for New Zealand lamb and mutton retailed in London during September, these prices representing ci fair average of the ’prince quoted by the better clasg shops in London for the best quality New Zealand lamb and mutton:—

Land).—-Logs, lOd per lb.; shoulders, ■fid; loins, 8d; necks, 3d; breasts, 2d; forequarters, 7d; hindquarters, 9d. Mutton (wether). —Legs, 7d per lb.; shoulders, Cd; loins, lid; necks, 3d; breasts, 2d. LONDON FROZEN MEAT MARKET Common, Shelton and Company are in receipt -,0l the following cable message regarding the frozen meat market in London : —‘‘Largo supplies of home killed selling at low prices are upsetting the market for frozen. All prices are tending downwards.”

The amount of .£24,300, available for issue in the Dunedin Drainage Board’s loan of £IOO,OOO at 5 per. cent., free of stamp dnty, was subscribed in 10 days. Markets for deerskins at a price which 'it is considered should make deer destruction attractive and remunerative as an avenue of employment, -have been found iby the Department of Internal Affairs, according to the annual report of the department.