DAIRY PRODUCE.

Auckland Star, Volume LVIII, Issue 151, 29 June 1927, Page 4

DAIRY PRODUCE.

MARKET STILL QUIET. j DOWN TO ICO/. The London butter market continues quiet, and the latest report to hand quotes New Zealand butter at 160/ per cwt. The "flurry" in f.o.b. sales, which followed the announcement that the Xew Zealand Dairy Board had abandoned control as from May 1, seems to have subsided, and there has been practically no bidding during the past few days. As already recorded, the first flush of excitement following the board's announcement brought offers of 1/4*2 to 1/5 per lb f.o.b. Auckland. These figures were well above London parity, and simply indicated the desire of London firms to again establish direct connection with producing factories. With the market at Home still weak, and prices drooping, it could not be expected tha such sales would bo numerous. Moreover, until the stocks over which the board still has control, are disposed of the full effect of an open market will not be realised. The following figures show the relative top prices on the London market of New Zeaand Danish butter during the past four years. 1024 1025 1020 1927 New Zealand IS4/ 190/ 174/ 160/ Danish 190/ 204/ 174/ 104/ Messrs. Joseph Nathan and Co. have this day received the following cable from their London office:— New Zealand butter, 160/: New Zealand cheese, white 84/, coloured S6/. The New Zealand Dairy Produce Board has received the following market report from the London agency, dated June 24: — Butter. New Zealand.—Salted. 158/ to 162/ per cwt; unsalted, 170/ to 174/. Market quiet. Market affected continuation weak Danish position. Australian, finest salted 160/ to 162/, up to 164/, unsalted 164/ to 170/: Argentine, finest unsalted. 162/ to 164/; Irish creamery salted 156/ to 158/, unsalted 160/ to 162/; Dutch, unsalted, 154/ to 158/; Estonian, 156/ to 168/; Latvian, salted 150/ to 154/, unsalted 154/ to 156/; Lithuanian, 148/ to 152/; Siberian. 148/ to 152/: Danish, 160/ to 162/, up to 164/. Retail prices unchanged. Germany.—Reduction in local production expected shortly with probable firming price. Meantime, Continent not interested in colonial. Cheese. New Zealand, white 82/ to 84/, coloured 84/ to 86/; Canadian, old season's, finest white and coloured, 96/ to 102/; new season's offering 86/6. but no buyers: Australian, finest white 81/ to 82/, coloured 82/ to 83/; English, farmers', 98/ to 105/. The board has also received the following advice from its agents in Canada:— Butter. —Montreal, 34% cents (1/5%); New York, 42% cents (1/9%); San Francisco, 42 cents (1/9). Cheese. —Montreal, 17% cents (B%d).