DAIRY PRODUCE.

Auckland Star, Volume LXII, Issue 15, 19 January 1931, Page 4

DAIRY PRODUCE.

TREND OF MARKETS

REVIEW OF PAST MONTH.

In their latest review of the dairy export markets Messrs. A. H. Turnbull and Co., New Zealand representatives for Messrs. W. Weddel arid Co., London, report as follower— The following are the London mean quotations for the month:— Dec. 12. Dec. 19. Jan. 2. Jan. 9. Danish butter .. 141/ 140/ 141/ 135/ N.Z. unsulted ... 118/ 114/ 118/ 119/ N.Z. salted 114/ 111/ 117/ 116/ Market Firm. Easier. Firm. Quiet. N.Z. cheese, white 63/6 61/ 61/ 59/ N.Z. cheese, col. 61/6 59/ 60/ 08/ Market Firm. Easier. Steady. Slow ESTIMATED ARRIVALS IN UNITED KINGDOM DURING JANUARY AND FEBRUARY, 1931, COMPARED WITH ACTUAL ARRIVALS IN PREVIOUS SEASONS. NEW ZEALAND BUTTER (Tons.) 1928-29.1929-30.1930-31. January 9,963 9,832 12,000 February 8,011 7,412 10,200 17,974 17,244 22,200 NEW ZEALAND CHEESE. January 13,276 13,786 12.557 February 14,018 7,950 9,143 ' 27,294 21,736 22,000 GRADINGS AND STOCKS (In Tons.) 1928. 1929. 1930. Butter graded in Dec. 12,700 14,700 15,434 Butter graded 5 mos, to Dec. 31 43,700 48,717 50,925 Butter in store end of December 5,650 8,782 11,176 Cheese graded in Dec. 13,250 13,350 15,200 Cheese graded 5 mos. to December 31 . 39,550 38,050 42,650 Cheese in store end of December 7,450 8,921 11,366 During the past month New Zealand experienced hot and dry weather in almost all butter producing districts, and reports •of decreasing production, having reached those interested in London, caused buyers there to consider the position inore closely, only to find that the low retail price had so stimulated consumption that stocks of stored butter were very low, whilst arrivals were finding a ready market on landing. Heavy buying of protective stocks resulted. At the same time a Continental demand set dn with the result that spot prices advanced from 98/ and 104./ at the end of November to JIG/ and 118/ on January 2. Messrs. W. Weddel and Co., Ltd., cable that the spot stocks on January 1 were very low and the retail price has again been increased to 1/3, but they expect a steady market. Forward buyers were busy during the latter part of the month and many sales of Jauuary-February-March. make and shipment took place at prices ranging from ll%d to 1/ per Ib net f.e.b. Buyers' requirements were quickly filled at the higher price quoted. The graiings given above will come somewhat of a 6urprise to the trade, a considerable increase being disclosed despite the weather conditions.

Cheese. —London reports a disappointing market, for although the retail price has been reduced to 9d per lb, demand hae not increased to any extent and buyers are merely operating for current Requirements and there is no sign of improvement in the near future. Forward 'buyers have been quite inactive, although isolated sales at 5%d to 6d f .o.b. are reported. Grading figures show a heavy increase in cheese production for the month. Dual factories are reported to be considering the difference in values of cheese and butter production.