DAIRY PRODUCE.

Auckland Star, Volume LXII, Issue 215, 11 September 1931, Page 4

DAIRY PRODUCE.

EXPQRT MARKETS

TRADE REVIEW

In their monthly review of the dairy produce export markets,- Messrs. A. H. Turnbull and Co., New Zealand agents for W. Weddel and Co., London, report as follow:— The following are the London mean quotations for the month:— BUTTER. Aug. 14. Aug. 21. Aug. 28. Sep. 4. Danish .... 123/ 132/ 123/0 124/6 New Zealand — ~.,,./ -no/ Unsaltec] . 116/ 114/ 114/ 112/ Salted ... 114/ 115/ 112/ I lo ' 6 Market Firm. Quiet. Slow. Steady. CHEESE. Aug. 14. Aug. 21. Aug. 28. Sep. 4. %\ftf. and -C2/ 62/6 62/ 60/6 Coloured . 63/G 64/6 63/6 62/6 Market Firm. Steady. Quiet. Quiet. Arrivals and Stocks. Estimated arrivals in the United Kingdom during September-October-November, compared with the actual arrivals in previous seasons, have been as follow:— NEW ZEALAND BUTTER. 1029. 1030. 1031. Tons. Tons. Tons. September ... ISO 4 3554 5275 October 1565 3715 3440 November . .... 5807 6650 10,9u0 Totals 9176 13,025 19,670 NEW ZEALAND CHEESE. 1920. 1930. 1931. Tons. Tons. Tons. September ... 3540 5342 3257 October 1643 1420 3043 November 3388 4352 4844 Totals 8580 11,123 11,144 GKADINGS AND STOCKS. Tons. Tons. Tons. 1929. 1930. 1931. Butter graded in August 2950 3038 3637 Butter in store August 3979 Cheese graded in August 500 646 240 Ch |r.! h . S^ e .. AUgUS !IOSO 833 1830 Australians Cut Prices. Butter.—ln our last report we referred to the German financial crisis and the resultant fall in butter values in the United Kingdom during July. No sooner had the market recovered the lost ground than it was faced with the British political crisis, values again falling from 115/ on August 21 to 112/ on August 28, and 110/6 on September 4. These setbacks are most disappointing and disconcerting, not only to the dairy factory companies, but aleo to the London houses, who are trying to improve values for the end of the "season shipments. Messrs. W. Weddel and Co., Ltd., cabling this week, consider there is no real reason for the latest weakness in butter, and put it down to pure sentiment, following the political upeet, intensified by the persistent offering of Australian new season "Kangaroo" as low as 102/, c.i.f. Buyers are operating for current requirements only, notwithstanding the fact that the rate of consumption continues excellent, and that spot stocks of colonial butters are considerably below last year. Grading figures for Augusb again show a good increase, 3637 tons, as against 3038 tons for August, 1930, an estimated increase of 19.71 per cent. A point worthy of note is the estimated heavy arrivals of New Zealand butter in the United Kingdom September-October-November, the lastnamed month more particularly, and it will need considerable improvement on the general position to withstand the heavy increase in supplies from the Southern Hemisphere ae a whole, between now and the end of the year. Taking everything into consideration we can see little prospect of improved prices in the meantime.

Cheese.— Gradings for August have been particularly low, only some 240 tons being graded. It ie, however, understood that dual factories will revert to cheese immediately the supply of milk is sufficient, meantime the quantity in store in New Zealanl is well above the previous two years, and will be sufficient to keep all markets supplied. Our principals cable that cold and unfavourable weather conditions have curtailed consumption of cheese ver;- considerably, whilst Canadian current make has been pressed for sale at 57/, c.i.f. Nevertheless, the market for New Zealand has remained fairly steady, quotations on September 4 being 60/6 for white, and 62/6 for coloured, identically th same as on August 7, the variation in t!-e meantime being only 2/ cwt. As with butter, we expect but little, if any, change in values.

MARKETS QUIET.

(Received I p.m.) LONDON, September 10. Butter is inactive. Danish is firmer at 130/ per cwt. Choicest salted: New Zealand, 110/ to 112/; Australian, 106/ to 108/. Unealteds 1/ to 2/ premium. Cheese is quiet. New Zealand, white, 60/ to 61/ per cwt; coloured, 62/ to 63/. Australian, white, 59/; coloured, 60/.

MERCHANTS' CABLES,

Messrs. Dalgety and Company, Ltd., report having received the following cablegram from their London principals, Messrs. Samuel Page and Son, dated 10th instant: —Butter: -The market is quiet. New Zealand, finest salted, 108/ to 111/ per cwt; Danish, 122/ to 124/; Australian, finest unsalted, 105/ to 107/; finest salted, 104/ to 106/; g.a.q., 98/ to 102/. Cheese: The market is slow. New Zealand, white, 59/ to 61/; coloured, 60/ to 62/; Canadian, white, 60/ to 61/; coloured, 60/ to 62/; c.i.f., 56/ to 57/; Australian, white, 58/ to 59/; coloured, 59/ to 61/. PRICES AT GLASGOW. Messrs. Norden and Co., Ltd.,, have received the following cable from their principals, Messrs. R. and W. Davidson, Ltd., Glasgow, under date 10th inst:— Butter.—Market continues quiet; 109/ to 110/ cwt, equivalent to 11.38 d lb f.o.b. Auckland; 111/ (exceptionally), equivalent to 11.49 dlb f.o.b. Auckland. . Cheese: Market quiet; 61/ to 62/ coloured, equivalent to 5.81 d lb f.o.b. Auckland; 59/ to 60/ white, equivalent to 5.49 dlb f.o.b. Auckland.