BETTER TIMES AHEAD.

Auckland Star, Volume LXIV, Issue 189, 12 August 1933, Page 4

BETTER TIMES AHEAD.

DAIRY MARKET PROSPECTS.

OPTIMISTIC FORECAST.

In their monthly review of the dairy produce markets, Messrs. Joseph Nathan and Company write as follows;—

Despite the failure of the World Economic Conference, the upward trend of the market continues, aud we feel safe jn saying that at last better times are in store for the dairying industry. There appears to bo a quiet confidence in the future that will go a long way to hasten the return to a more normal state to which we have looked forward for so long.

Although the season now closed has been one of record low prices and abnoitnal production, still consumption in England has been maintained at a higher rate, and although stocks in sight are heavier. they are riot as high as might be expeted. Production in the northern hemisphere is now past its peak, and with tho lighter arrivals from this end we see no reason to suggest a fall in present prices—rather tho reverse.

The present rise has been steady and sustained, except for slight weakness in the middle of July, which was probably duo to the prominence again given to the quota proposals. As intimated in our lust report, ; ,ny r OCC nt falls have been only a shilling or two per c\rt, and a recovery has followed almost immediately, whereas previously declines were much greater ancl recoveries slower.

Very little butter afloat and in store is unsold, and a rise of a further 1/ to 3/ per ewfc will allow most buyers to break even on their purchases, which were cencrally made at lOd to IOUd per lb, f.o.b. Further buying has taken place for July/August output, which, of course, in the main will consist of first grade. Offers of lOd to 10% d have been made and accepted. Cheese has remained remarkably steady. This is somewhat unusual, and is difficult to count for. However, if there is a continuance of the present spell of ■ hot weather in England a rise should not be far away—especially as stocks of Canadian cheese are reported to be much below last year's. No sales of any note have been reported recently in the North Island. South Island cheese, of course, « practical ly all soldi

Advanc 's.- -K-fcs for August shipment >iii. "'"lor: Butter. S'4d per lb; cheese, 4'/£d, With the usual reductions for lower grades.