DAIRY PRODUCE.

Press, Volume LX, Issue 18204, 15 October 1924, Page 10

DAIRY PRODUCE.

WEDDEL'S ANNUAL ANALYSIS. NEW ZEALAND IN THE ASCENDANCY. yraoir or?. ovr>: coaHssro^DEs-r.; LONDON, September 4. Ah w'.:o are- concerned with Colonial datrv produce look forward to the annua": review issued by Messrs W. V.'edde: ar.d Co.. •>: their ccmpiLa-ion is regarded by the trad.-- a? a:: authority! :ve work of ""eferer.ee. This hnu had i.--t:td its 30th annual review dolling with the impelled dairy prcduec. trade, ar.d t!:- ; .vr.ch:?ion is arrived a: that duncr; tho peril I under consideration there a,re reiv lew indications ei a return to that feeling m tranquillity which, is so earnestly desired, bv business pecole everywhere. The year has been described as "difficult," but that description migiii be app.icii v .:tii equal tores: to any or the past ten years in eot.uexion with the disposal of butter and dites.: in this con-try. There arc few markets more perplexing in their reactions, or subject to such extremes of enthusiasm and Price movements are extremely uithcuU to account for, as they occur somelimes wi.bout any apparent cause, or from eause- which, at other times would have practically no enect. The result is that t.-uycr-.. iiave become more and more timid and lacking .'or.fidence in their judgment, and content to operate only "from hand to mouth. It is the exception rather than the rule nowadays to rind any hut the largest _ buyers with an* assured outlook, willing to back their opinio;-, ri the market mors than a few weeks ahead. Varying Adverse Influences. Among the influences making for uncertainty in the dairy prcduee trade during the twelve- months Under review were: Strikes at tho docks, on the railways, and in Ireland; r-ontirmed fluctuations in the Continental and American exchanges, resulting in the spasmodic diversion of Danish supplies; the drought, followed by a rush of shipments when the rain came m the middle of the ■season: changes of policy on the part of many of the New Zealand dual plant factories ; the reappearance of Siberian supplies, and variations in the consumptive demand. In Xew Zealand and Australia the movements for establishing collective control of tilt dairy produce export trade made further progress, but, so far, no attempt lias been made to interfere with the liberty of traders at this end, or to intrcduce any revolutionary change.-; in the conduct of the business. Empire Supplies. In aggregate, the importations of butter into the United Kingdom during the twelve months ended June 30th last were, slightly smaller than the 'record" total established in 1022-33. A disappointing feature of the individual totals, however, is the serious shrinkage which took place in Empire supplies of butter, coinciding with a heavy increase in foreign supplies. It. is noteworthy that the quantity received from each of the overseas Dominions was smaller than in the preceding year, while in every case increased supplies were received from foreign producing countries. The proportion of Empire-produced butter to the total imports last year was only 35 per cent., against 45 per cent, in 1922-23, and 52 per cent, in 1921-22, revealing a progressive decline in the relative importance of Empire butter on this market in recent rears. Dry weather in Australia, New Zealand, and South Africa was largely responsible for the decreases in shipments from those countries. Danish supplies were again considerably heavier, despite the diversicn of important quantities to the United States and German?. Next to Denmark and New Zealand, the Argentine, for tho first time, took third place •areone- butter-exporting countries, havin? exceeded Australia's total by 3820 tons. After an interval of seven years, shipments of batter from Siberia were resumed during the past year, the total received up t-o the end of June last amounting to 2300 tons. Generally speaking, butter prices, starting from a comparatively low level, rose during the first, five months of' the period, fell away again in the second five months, and experienced a partial recovery during the closing two months. The. extremes were slightly less severe than in the preceding year, but it cannot be said that anything approaching stability has yet been reached. The average of weekly quotations over the year worked out at 198s lid per owt for Danish butter, •jg 3 f° r New Zealand, 177s 3d for Australian, a«d 160s lOd for Argentine. These figures, although lower than those. for 1922-23, are still about 60 per cent, above the- pre-war levels. Increased Supply from Foreign Countries. The> total quantity of butter imported into tho United Kingdom (excluding imports from the Irish Free 'State) during the twelve mouths ended June 30th, 1924, amounted to 224.009 tons, as .compared with 229,061 tons in J922-23, a decrease of. 5052 tons, or 2.2 per cent. Although lower than in the preceding year, this total is higher than that of any previous year. The quantity received from British sources amounted to 77,828 tons, a reduction of 24,496 tons from the 1922-23 total, Australia showing a drop of 88-43 tons, Xew Zealand 11,772 tons, and Canada 5654 tons, while South Africa sent nil during the past -vear, as compared with the 227 tons in 1922-23. On the other hand, all the foreign sources of supply of butter show considerable increases, the total quantity received from countries outside the British Empire being 146,171 tons, against 124,727 tons in the preceding year. The quantity imported from Denmark was the largest of any year since 1909. The .total wa3 91,056 tons, compared with 81,982 tons in 1922-23, an increase of 9074 tons, or 11 per cent. The shipments arrived with their customary regularity, notwithstanding occasional spurts in the demand for Danish butter from Germany, United States, and other countries. The quality was well up to the usual high standard of excellence maintained by tho Danish producers. During the past few years the Argentine has been forging ahead very rapidly in the production of butter, and has now to be reckoned with as one of the principal sources of supply to the United Kingdom. The quantity imported in the twelve months under review amounted to 27,432 tons, as compared with 22,156 tons in 1922-23 and 16,821 in 1921-22. After an interval of seven years, shipments of Siberian butter to this country have been resumed. Before the revolution, Russia was one of the most important sources of supply, the average quantity received during the ten years ended 1914 being 30,000 tons per annum. Imports from Russia and Siberia together up to the end of June last amounted to 2300 tons. From Finland 5638 tons of butter were received, as compared with 7273 tons in 1922-23, a decrease of 1635 tons. France, Holland, Norway, Sweden, and the Baltic Provinces all sent augmented supplies to this country, the most notable being Holland, which increased its shipments from 5254 tons to 8368 tons. Colonial Sources of Supply. Although the imports of butter and cheese from New Zea'and last year fell short of the "record" established in the preceding year, the quantity actually produced during the twelve months almost exactly equalled that of the 1922-23 season. New Zealand still maintains the position of being the- largest exporter of dairy produce in the world. The quantity of butter graded from July Ist, 1923, to the end of June, 1924, amounted t* 61,733 tons, as against 67,9?5 tons in 192223, a decrease of 9 per cent. The cheese graded for the same period amounted to 74,104 tons, as against 61,065 tons in 1922-23, showing on of 21 per cent. Imports into the United Kingdom for the twelve months were 51,847 tons of butter, as compared with 63,619 tons in 1922-23. a decrease of 11,772 tons, or 18.5 per cent., and 71,615 tons of rheece, against 73,123 tons in 1822-23, a decrease of 1510 tons or 2 per cent. Cheese —Good Market for Canadian. For the past five years the total quantities of cheese imported into the United Kingdom have shown remarkable steadiness, the greatest variation being less than 4 per cent. Last year's imports were within 100 ton 3 of those of 1922-23. Supplies from Empire sources amounted to 120,836 tons, or 87 per cent, of the whole. Cheese prices, after an initial rise in July and August, followed a downward course throughout the following ten montlis, and, so far as the Now Zealand make is concerned, must have proved extremely unprofitable to forward buyers. Canadian cheese enjoyed an extremely good market <3nrmg the periocl -when it waa available, tlie average price being 107s 6d per cwt; but the New Zealand average of 101s 4d for the twelve months; is somewhat misleading, as very little was available when prices were ruling high, the bulk of the supplies having reached the market when prices were on a lower level. The total imports of cheese for the year were 138,942 tons, of which 120,836 tons'came

from Dominion sources, and 18,106 tons from foreign sources. This total compares with 138,803 tons in 1922-23, and 138,535 tons in 1921-22, showing remarka-bly little variation in the three yeara. Australian supplies were again seriousiy curtailed on account of drought. An increase of 2053 tons from Canada was partly set off by a decrease of 1510 lons from New Zealand, the net shortage from Empire sources being 886 tone. From foreign sources increases of 759 tons and 3115 tons were received from Holland and Italy respectively, while the remaining sources curtailed their contributions by 897 lons from Switzerland, 1271 tons from the United States of America, and 681 tons from ■'ether countries." The Dairy Control Board. Messra Weddel refer to the setting up jn New Zealand of the Dairy Control Board, ■whose .activities have so far been only of a preliminary character, "but they have included the sending Home of a delegation for the purpose of studying methods of marketing dairy produce in this country and on the Continent. When that delegation returns to New Zealand the Board will give the whole question full consideration, and will then decide upon the policy to be adopted in connexion with the marketing of New Zealand produce. It is too early yet to eay what effect upon the trade this pooling scheme will have. If the example of the Meat Board be followed, there can be no objection taken at this end, as the latter body have, up to the present, refrained from interfering in any way with the eale of the meat, tlieir operations being confined to takin» steps to improve the quality of the meat, the transport and loading conditions at each end. the reduction of freight rater, rind generally endeavouring to improve the conditions •under which the goods are handled from tho freezing works to the consumer. If these lines are followed by tho Dairy Produce Board, its advent will be welcomed by the trade in this country." Margarine—Slightly Increased Demand It is somewhat difficult to estimate the actual consumption of margarine during the twelve months. No published figures aro ovailable beyond those of the imports into this country, which show an increase of not quit© 3000 tons on the year. This, however, is but little guide to the total consumption, as it is entirely unknown what the home production during th» period has been. It is, however, probably safe to asanmo that there ha» been n slight incroas* over tho previous period, bat to »o important extern!.