COMMERCIAL

Poverty Bay Herald, Volume LX, Issue 18253, 23 November 1933, Page 2

COMMERCIAL

DROP IN BUTTER MARKET WEAK The values of Now Zealand butter arc declining this week as rapidly as they rose a few months back. Today’s quotation is hack to 80s per cwt., a "loss of Ms per cwt. in less Ilian a! week and 8s lower than the figure quoted yesterday. | Heavy arrivals are no doubt, the cause of the recent decline, blit, one pleasing feature is that it is going into consumption more rapidly than at any previous period. This has been helped • by the shortage of Australian supplies, which are now beginning to increase on the London market, and which t might help to reduce the demand for j New Zealand butter, even at lower! prices. The market dropped at this time last year, and from November IS to 25 there was a decline from 92s to 86s. A slight recovery set in for a short time, but thereafter values slumped to the , unprecedential figure of 64s after Easter of this year. Cheese values are declining sharply, and quotations have fallen Is to 2s on yesterday’s advice and 3s to 4s on the level at the end of last week. Messrs. Joseph Nathan and Company report to-day -as follows: —“Butter, 80s; the market is weak. Cheese, white 475, colored 465; the market is imorc active.” The New Zealand Loan and Mercantile Agency Company, lias received the following advice front London dated November .23: —“Butter is nominal at 80s to 81s; the market has a weak tendency owing io no business. Cheese. -17 s to 48s; .the market is quiet. ’’

CATTLE AT ADDINGTON FINE GISBORNE OFFERING A few Gisborne cattle were sold at the Addington stock sale yesterday, these comprising the balance of a line of 30 Hereford-cross bullocks offered last week on account of Mr E. R. Black, Pakowhai. Six were passed in last week, and when they were offered yesterday they brought an average of £lO lOs each. The main lot averaged £ll 10s 10d last week, two bullocks topping the sale at £l2 17s Od. In regard to the quality of this line, the Christchurch auctioneers, Messrs. H. Matson and Company, have written to the Gisborne Sheepfarmors’ Frozen Meat and Mercantile Company, which handled the draft at this end, congratulating Mr Black on the excellent quality of the cattle, and adding that if South Island graziers would finish off their stock in the same way sales would be much easier to make. HASTINGS CATTLE PRICES A slight easing in the market for fat cattle was noticed at the Hastings stock sale yesterday. Last week a sharp rise ,of £1 a head, sometimes greater, was the result mainly of a short supply. A yarding of 200 fat cattle yesterday met a slightly easier demand for prime cow and heifer beef, while lightly finished sorts remained firm generally.