BUTTER EXPORT.

Press, Volume LXIX, Issue 20790, 25 February 1933, Page 6

BUTTER EXPORT.

THE PROPOSED RESTRICTIONS. QUESTION OF OTHER MARKETS. Agents in Auckland have no information how and by whom the present negotiations in London for a voluntary restriction of fautter shipments were started. In the meantime business and shipments are proceeding normally. The opinion is advanced that anxiety on the part of producers of the Northern Hemisphere, whose season commences within a month or six weeks, has been one of the principal reasons for restriction, especially in view of the large quantity of butter which has yet to be shipped from New Zealand and Australia. A further influence is the fact that trade negotiations are at present in progress between the British Government and Denmark and Argentina.

Little information is available in regard to the hands in which the heavy supply of New Zealand butter is held in London. In raising this aspect an Auckland agent stated the other day that in his case shipments arriving as late as February 7 had been cleared as far as he was concerned, and he understood that several other agents were in an almost similar position. A good deal of speculation had existed in the market during the past year and, while it was to be regretted, agents operating in New Zealand, in accepting the market values, could not be held responsible for it.

No great hope -is held out for the establishment of any new market to which to divert some of the Dominion's ciutput. IJndeavours have been made in the past at considerable expense to exploit the East without any real success. The possibilities of India have been mentioned. The Indians are large consumers; of fats'in the form of oils, but synthetic productions to-day mainly fill .the need there. It is considered, however, that it would ultimately pay the New Zealand: farmers to accept business" in any outside market, even although prices on a parity with London values could not be'procured.

Released Australian Supplies. The Australian Dairy Produce Board has again increased the percentage of exports permitted out of butter held back from shipment between December g, and January 10, when 10 per cent, of all butter entered for. export was retained. On January 21 permission was given for weekly shipments of 10 per cent, of the butter retained. This was increased to 15 per cent, from January 31, and'to 20 per cent, from February 7. .The amount now permitted is 30 per Cent. It appears that all the; butter held back will bo shipped by the end of February or soon afterwards.

THE YIELDS. HIGH RETURNS. If the early threshing returns are to be taken as-a criterion of the average this season, there will be a record yield. In . the Grccndale-Darfield district there have beejt numerous loturns of from 45 to 58 bushels to the acre., Last season the returns from these "distriet3 ' were little, more than half these figures. On the /light land further down on the plains up to 35 bushels - have been returned. Last season some of , these areas threshed from 12 to 15 bushels. Normally from 18 to 25 t>ushcls would be regarded as satisfactory. The wheat has riot suffered to much extent in the districts Mentionedfrom, mildew or rust. There will bo some steadying of the high returns' when' the crops of several other districts are threshed, but indications point to. the estimate of 35 bushels to the acre over the whole Dominion boing a conservative one, unless Southern crops aro disappointing. Oats in some districts have been badly rusted, particularly Gartona. The tremendous straw growth encouraged rust development. In spite of this there have been some record heavy yields. An instance hat< been mentioned to ''Straggler" of a 60-acre crop of Duns in the Ashburton district which produce's; 55 stacks, .or ..roughly a stack to 1J acres.

NORTH ISLAND EWES. DROP IN PRICE OF SOUND MOUTHS. There has been a sharp drop in the price of sound-mouthed ewes in the Hawke's Bay market, approximating 2s a head. Last week at Waipukurau sale, where most of the entry of 25,000 store sheep comprised breeding ewes, five-year-olds sold at 6s lOd to 8s Bd, the latter price for good-conditioned ewes carrying a fairly tine fleece. There has been a flooding of the market, but good rains in the Waikato have improved the feed position there, and it is expected that some of the Poverty Bay drafts intended for the Hawkc's Bay market will be diverted to that quarter. Soino lines of East .Coast sheep liavo been bought for Canterbury, but they are young sheep, d probably intended for the Peninsula. The price for old northern ewes is still on the high side for export to Canterbury to compete against sound-mouthed ewes here.