BUTTER AND CHEESE.

Auckland Star, Volume LXVII, Issue 217, 12 September 1936, Page 4

BUTTER AND CHEESE.

BOTH MARKETS QUIET,

LATEST FROM TOOLEY STREET

rile following cables have been retell this morning by local produce dS from their principals in Toolev London:— ot Wet, Messrs. A. H. Turnbull and Co [lu W. Weddel and Co.)-Butter° fe 128/ per cwt; New Zealand, salted lin?" Australian, 109/. Cheese: NewZ'JfJ white 69/, colorured 67/. Both marbt' quiet. t - eu

Messrs. Allen and Findlay Tu (Messrs. Armour and Co.)—Bntt. Market quiet. New Zealand, salted ins, to 110/; unsalted, 109/: Australian ' lnq/. Danish, 127/. Cheese: Market quiet vl' Zealand, white, (38/ to 69/; coloured to 67/; Canadian, 71/6. ' w/ CAUSE OF THE DROP. NO AMERICAN SUPPORT. In their monthly review of the dain produce markets, Messrs. A. H. Turnbuf. and Company, New Zealand represent tives for Messrs. W. Weddel and r n London, state: — 1 August, the first month of Government control, brought with it a firm and rising market for butter. London spot price* rose steadily from 116/ until the peak was reached at 121/ on the 18th of the month' thereafter prices remained unchanged tiD the end of the month, when a slight weakening was manifest, followed by a severe drop to 110/ during the first week in September. Messrs. W. Weddel and Company, Ltd cable that a number of circumstance have contributed to this fall. The arrivals from New Zeaalnd show a -substantial increase over the last two years, but with a fairly sound stock position in the United Kingdom, this alone would not have affectcd the market. But added to this is a very heavy influx of Continental butters. According to the Imperial Economic Committee's report stocks of butter from all sources are 24,800 tons as against 26.600 tons last year. For the fortnight ending 9th September, in place of the usual decline in stocks, there is a slight increase in stocks. Again, higher prices have as usual curtailed ..the consumption. The principal factor, however, can be found in the advice that the trade a« a whole has been anticipating a strong buying demand from America, which has not eventuated. Buyers immediately remembered similar circumstances last year, and the slump in values which followed, and became distinctly nervous, operating only from hand to mouth. Some cables even described the market as demoralised. The future is too difficult to forecast, but now that the market has steadied it is hoped that the usual recovery may follow.

Cheese has, as usual, followed closely the course of the butter market, xieiDg steadily throughout August, but with only a slight easing for the first week of September. Although the stock position of cheese is still very sound, with estimated arrivals for September to November about equal to last year, Messrs. W. Weddel and Company, Ltd., cable us that the future of cheese is very difficult to forecast, as it is invariably dominated by the butter market. Arrivals In Britain. Estimated arrivals in the United Kingdom during September, October and November, compared with actual arrivals in previous seasons, are as follow: — NEW ZEALAND BUTTER.

Tons. Tons. Tons. 1934. 1935. 1936. September ... 6.083 S,930 12,984 October ...». 10.463 9.345 9,330 November .... 8,366 7,721 10,730 24,912 25,99 6 33,084 NEW ZEALAND CHEESE.' Tons. Tons. Tons. 1934. 1935. 1930. September ... 6,050 5,242 5,414 October 5.077 4.810 5,337 November .... 4,159 £,803 4,785 1<j,2S0 12,8 jo lu,556