DAIRY PRODUCE.

Auckland Star, Volume LXIII, Issue 26, 1 February 1932, Page 4

DAIRY PRODUCE.

LATEST CABLES. THE BOARD'S REPORT. The New Zealand Dairy Produce Board has received the following market report from its London office, dated January 29:— Butter. —New Zealand: Salted, 99/ to 102/; unsalted, 110/ to 112/; first whey, 94/; second whey, 92/. Deliveries New Zealand 1800 tons, in store 2739 tons. Australian: Salted, 97/ to 100/; unsalted, 104/ to 108/. Deliveries Australian 2162 tons, in store 2889 tolls. Aigeutine: Unsalted, 94/, 98/ to 100/. Danish: 117/ f.0.b., 121/ to 124/ spot. Market quiet. New Zealand retail price 1/1, Danish 1/2. The Empire Marketing Board's estimate of stocks of all butters in store at January 23 was 403,247 boxes (last year 301,312 boxes). Cheese: —New Zealand: White, 60/ to 61/; exceptional, 62,/; coloured, 59/ to 60/; exceptional, 61/. Deliveries New Zealand 17,385 crates, in store 48,000 crates. Market quiet. New Zealand retail price Bd. Canadian: White and coloured, 68/ to 70/. Market steady. Deliveries Canadian 4800 boxes, in store 152,825 boxes. English: Finest farmers', 100/ to 108/. The board has also received, the following advice from its agents in Canada:— Butter: New York, 22 cents; Montreal, 19 cents. Messrs. Joseph Nathan and Co. have received the following cable from their London principals, Messrs. Nathan and Tretigrouse, dated London, January 31 :•— Butter: 100/ per cwt. Cheese: New Zealand, white, 60/ per cwt; coloured, 59/. Both markets quiet. Messrs. Dalgety and Company, Limited, report having received the following cablegram from their. London principals, Messrs. Samuel and Son, dated 29th instant:— Butter. —The market is firm, and dearer owing to tariff possibilities and landing delayed by strike. New Zealand, finest salted, 100/ to 102/; Danish. 118/ to 120/; Australian, finest unsalted, 306/ to 108/; finest salted. 98/ to 100/; g.a.q., 92/ to 96/. Cheese. —The market is firm, and dearer owing to tariff possibilities and landing delayed by strike. New Zealand, white, 59/ to 61/; coloured, 58/ to 59/; Canadian, white, 68/ to 70/; coloured, 68/ to 70/.

REVIEW OF MARKETS. MR. W. GOODFELLOW'S REPORT. In liis monthly report to suppliers of the New Zealand Co-operative Dairy Co., Mr. W. Goodfellow. managing director of Amalgamated Dairies, says:— "The London butter market lias been dull over the Christmas and New Vear periods, .prices being adversely influenced by the heavy arrivals from Australia and New Zealand, plus a weak market on the Continent." Mr. Goodfellow said a very satisfactory volume of New Zealand sales had been maintained, averaging over 2100 tons weekly. The low retail price of 1/1 had kept consumption at a high level and had prevented stocks from accumulating. During the period under review Danish butter had dropped from 130/ to 108/, f.0.b., .but subsequently recovered to 111/, f.o.b. The average weekly deliveries of Australian butter in London for the past five weeks had approximated 2000 tons. The lightermen's strike had not appreciably affected the market, and no material improvement could be looked for in the near future. •■Arrivals from the southern hemisphere would continue to be very heavy for some weeks, and the general economic position of Europe did not show any sign of improvement. The average weekly delivery was 2111 tons. Some f.o.b. business had been done by London operators at up to 10% d for January-February shipment and make. The introduction of the exchange poll evidently gave buyers more confidence in a continuance of the present rates. Cheese had kept fairly steady at lower prices than the previous month, and nothing but an improvement in the industrial conditions of the United Kingdom was likely to improve prices'for some time to come. The indications, however, were that cheese prices would not recede further during the next few months. , Lactic casein remained an exceedingly difficult commodity to sell, owing to the extreiuelv low prices quoted from Argentine. Rennet casein was a slightly better proposition, and the company was in consequence fortunate in having a dual plant. Germany and Japan were boch buying rennet casein in limited quantities. Prices for milk powder were on a slightly lower basis than last season, but sabs were being well .maintained, and the indications were that the market was not likely to recede further.