BRITISH MARKETS

Wanganui Chronicle, Volume 80, Issue 102, 3 May 1938, Page 11

BRITISH MARKETS

REVIEW OF THE M EEK BUTTER REMAINS VERY FIRM LONDON, May 1. Most of the Budget commentators have overlooked the significant fact that the Chancellor does not expect a further decline in the activity of the markets or the level of trade generally. The summing up of the Budget clearly shows that the Treasury admits a recession and thinks that the state of trade is sufficiently strong to withstand even the shock of additional taxation. The official view of the outlook is thus firm, but they are very dull markets. Commodities have had a poor week, the wheat market naturally watching the Government's policy most closely. Metals and rubbers are easier as the result of the disappointing American consumption. Butter Market Very Finn Butter remains very firm with good speculative inquiry in anticipation of reduced arrivals from New Zealand in July and August. Cheese belied the hopes of similar improvement, holders becoming dissatisfied and are inclined to encourage buyers with lower prices. The market is likely to be dull for some time Bradford More Optimistic Bradford is more optimistic over the wool outlook. A few traders are conducting operations in expectation of cheaper wool, but there is little new businessr Retailers seem to have over bought and have big stocks to clear, but a healthy sign is the public demand. which shows no indications of diminishing.