THE DAIRY INDUSTRY.

Auckland Star, Volume LX, Issue 164, 13 July 1929, Page 4

THE DAIRY INDUSTRY.

FOUR WEEKS' REVIEW. BUTTER STEADY, CHEESE WEAK. In their monthly review of the dairy produce markets, Messrs. A. H. Turnbull and Co., New Zealand agents for Messrs. W. Weddell and Co., London, report as follow: — The following are the top London quotations for the past four weeks: — BUTTER. Danish X 173/ 172/ 17S/ 177/ N.Z., unsalted . 172/ 170/ 172/ 172/ N.Z., salted ... 170/ 170/ 172/ 173/ CHEESE. N.Z., white 93/, 93/ 9.2/ 92/ N.Z., coloured .. 95/ 95/ 95/ 94/ Butter. The market has remained steady throughout the month. A slight check occurred after the first week, caused by the increased Continental production at the peak of their season, and which Messrs. W. Weddel and Co., Ltd., cable, more than countered the seasonal decline in shipments from New Zealand, Australia and the Argentine. In the" meantime there has been some accumulation of stocks in London, but not sufficient to affect the market and our principals look for a steady market at round about present values. Usually at this period of the year we have inquiries for forward offers, either for the U.nited Kingdom or in recent years for Canada, but although Canada purchased a limited quantity early in June at round about 1/5, f.0.b., buyers later reduced their limits to 1/4%, at which figure no business has been reported so far. f ' Cheese. The market has been particularly steady during the past five weeks. The warmer weather experienced through the United Kingdom had the effect of increasing consumption, whilst the high prices asked for Canadian cheese favoured the selling of New Zealand Cheddar. On the other hand, increased shipments' caused the further accumulation of stocks, resulting in a lack of that speculative demand usually experienced at this period. The demand has, in consequence, not been sufficient to absorb the heavier offerings made of released stocks, and the market has weakened slightly to the extent of 1/ per cwt. Recent Canadian cables quote new season's cheese at 86/ to 90/, c.i.f., being a decline of 6/ on .former prices. With the§e factors before us, we cannot look for any material improvement in the near future. GRADINGS AND STOCKS. 1927. 1928. 1929. Tons. Tons. Tons. Butter graded during June 1,350 1,450 1,243 Butter graded 11 months to June 30 71,100 73,800. 80,850 Butter in store at June 30 5,800 3,200 3,812 Cheese graded during June 1,550 1,900 2,072 Cheese graded 11 months to June 30 76,000 75,500 86,050 Cheese in store at June 30 3,650 2,300 4,370