COMMERCIAL

Poverty Bay Herald, Volume LX, Issue 18207, 30 September 1933, Page 3

COMMERCIAL

BUTTER MARKET STAGNANT RESULT OF HEAVY BUYING The market for New Zealand butter in London is reported 1o be stagnant after the flutter of buying on a. rising market. The latest .quotations range a]) to 107 s for .finest and down to 101 s for first grade. The sudden cessation in buying lias not come as a, surprise. Last week’s deliveries of New Zealand butter were the largest of the year, reaching over 2500 tons, and no doubt buyers temporarily filled their requirements. The result was a slight weakening on the quotations. However, the market has not lost all it gained last week, for in that short time there was a gain ol dOs per cwt. in values, which went up to 110 s, with one reported sale at Ills. Danish butter also lias participated in a decline, which was much more marked than in the case of New Zealand. Danish was quoted during the past few days at 11.25, a premium ol only 5s per cwt. on New Zealand finest.

One feature of the market Jit present is that Australian butter is selling at more, than Now Zealand, being quoted at 104 sto ,108 s. This is no‘doubt the result of the extreme shortage of Australian supplies in London, totalling only 955 tons at the close of last: week; compared with 0113 tons of Now Zealand. Messrs. A. If. Turnbull and Company report as follows under date of September 27: “Butter: Danish, litis; New Zealand finest, 101 s to 10(59; Kangaroo, 104 s to JOSs; New Zealand cheese, while and colored. 53s to 545. The markets tire stagnant.’’ Other reports- on the same date show New Zealand butter tit 107 s.

FROZEN MEAT MARKET AFFECTED BY HOME KILLED Heavy marketings of home-killed lamb at Ml a pound lower are affecting the prices of imported lambs. Two’s are firm at 71 1 1 and eight’s and. four's weaker at 7d and fifjd. respectively. Wethers continue to be firm but slow. Ewes are weaker with trade generally slow. The above is a. report received by the New Zealand Farmers’ Co-operative Distributing Company, Peilding. from London. Last week, two’s, selected North Island, were selling tit 7LI per lb, eight’s at 7Jd and four’s ()]d. Wethers went up to 4Jd and ewes to 3fd.

THE PRICE OF GOLD (Received Sept. 30. 11 a.m.) LONDON, Sept, 29. T'iie price of gold is quoted to-day at £6 13s an oz. HOME STOCK MARKETS (British Ofliciul Wireless.) Bee. 12. RUGBY, Sept. 29. The outstanding feature of the Stock Exchange was a. further substantial improvement in German bonds, Continental buying being induced on more favorable reports from Geneva. The lone of the markets generally is good. Internationals are firm, and British Government- stocks steadv.