DAIRY PRODUCE

Press, Volume LXX, Issue 21084, 8 February 1934, Page 11

DAIRY PRODUCE

COMMENT BY A. 11. TURNBULL AND COMPANY A. H. Turntaull and Co., Ltd., report as follows: I The following are the London mean I quotations for butter and cheese for | the' month:

REVIEW FOR JANUARY

Australian shipments to date for this season show a falling off of some 3246 tons, as compared with the same period 12 months ago, the heaviest decrease being from Victoria. Nt'w Zealand, on the other hand, has increased her .shipments for the same period by more than 7500 tons. Commenting upon the general position by cable, Messrs W. Weddcl and Co., Ltd.. state that the lowest point of the market may be looked iipon as past. Considerable f.o.b. business was iccorded during the last month, forward buyers for February and Febru-ary-March shipment being active at from BJri to Bj|d per lb, but retired immediately higher prices were asked for. On the other hand, dairy factory companies have now more confidence in the future and appear content to continue a consignment policy.

Cheese Features. The feature of the last month's trading has been the recovery of coloured chacsc, as compared with white, latest quotations being white 42s fid and coloured 44s ud per cwt. The statistical position of cheese has always been strong, but prices have been influenced by the continued fall in butter values. Cheese stocks are now below norma! and will) a retail price of 6d per lb Messrs W. Wcddcl and Co., Ltd., expect a steady market. No f.o.b. selling has been reported, although some buyers have been ot'ering for February-March make at per lb. The New Zealand Farmers' Co-op-erative Association of Canterbury, Limited, has received the following •able message from Messrs Lovell and Christmas, Ltd.:— Butter—67s, 685., White cheese—43s. Coloured cheese—4ss. Both markets are steady. WHEAT TRADING CIIICACO FUTURES j iTNIIEIJ UTiS i c.i.Ki;;:.'l'll - i oiyitimi ;m NEW YORK, February 6. Chicago wheat futures are quoted:— Cents a bushel. Feb. 2. Feb. 6. Mav .. ..fill 02? Julv .. ..90 913 September . . . POJ 92& New York (cash) .. 101 103.',

FOREIGN EXCHANGES .BUrnsll OFI-'I. lAI. WII'.EI.JC-S.'i

lUn.lSV, Keliruarv «. I'ar. Feb. :'». Feb. ti. 1 Paris, fl- In 1 .: i i-j-i.-ji tci 'j.v.;j 7* 'wji-;;-j New York. 1 ilol. In .fl l.SBfi .J.;i:ij 4.!trtJ Montreal, dol. 1 in ;l. I.Sfifj 1.97} .'■.(iiij ! Urussels. i,ri» in.; i :;.'. 22.494 2221 Ccn.jia, fr. in .! 1 2.7 221.7 10. Hi; l.'i.'h Aliifterdam. ll. in XI 12.107 7*1 7.711 Milan, lire M xt 92.41; j!< 11 in »n2 Berlin, reiclimarkentoxi 120.18 KI.24 lil.Odi Stockholm, kr. (o XI 18. ].">'.) 19.1)94 19.39J Copenhagen, kr. tit £1 18.l.'i'J 22.40 22.40 Oslo, kr. to XI 1.5.1.79 19.90 19.90 Vienna, self's. to XI .'! 1.7*7 I'.- 1 2rti; Prague, kr. to XI l'il.2.7 loir) 10-1 i Hclsingfors. marks to XI ]9;j.2,'J 2'.it;J 22liJ .Madrid, pesetas to xl 2.3.221s :;s li-ir, ;irfi Lisbon, eseu(Ins In xl 1 1" 10»5 Id Athens, orach to !'l .".7.-, hid r>:;:, infiiciall 'nftieinl) Bucharest. Pi to XI 8H.fi ,'rjn 525 Belgrade. dinars 'J5.'J'J In 22.5 22.7. (official) (official) Piodclaneim, pence to inilrcis . . 1.H92 1 1 t r, ,(£ 0. ffici.il> Llionos Aire-, pence to del. .)•■.:>:.7 rin.j .17* ('.facial) Montevideo, pence, to del. .71 "7 i .71 (official) tnfii.'inl) IJombay, peneo li. rupee 19 1*7 1.4 IS :p:i2 ''"'" 'i'o il'i.l'. - If. 5 ll> JfiJ Urine Knni, pence lodnl. IR 1 Hi IS Ynknhatna. penee to veil if.'.7 It 0-10 It 9 .12 Warsaw, par 7lntvs t-o il 4:1."I". - - L.ltavia. e.lMd.T 1'.' 11)7 ■ Pelerioii.e.l l.y price of silver. METALS MARKET (l.'-ccnrd Fel.rnnry ■«. f HI p.til.'l LONDON. Fcbniary 7. Que! aliens — Feb. r.. Feb. n. A Inn. A ton. Copper— i ». 'I. X s. .1. Standard, jpot !U 0 77 :I4 0 71 Forward .. ■■1 -1 -'J "-1 4 4i Electrolytic . . !S7 « O "'. 10 0 l„ ' I!7 5 0 :i7 10 0 ■Wire Pars . . .17 5 0 :J7 10 0 .American electrolytic: S cents per lb. Le;»l — Spot . . 11 5 0 11 16 3 Forward .. 12 2 G . 12 2 6 Spelter— Spot .. J< 1" 3 15 1 3 Forward .. 13 5 0 15 8 9 T "s>,t .. 227 R !» 227 8 9 Forward ' . . 220 1.1 9 226 18 9 Silver — Standard, per oz. 19§d I9 9 10d Fine, per oz. .. 21 .'JJfi 21Jd

I - ~ T* FINANCE AND COMMERCE DAIBY produce -* REVIEW FOR JANUARY WOOL - J- AAA HON OF GAS COMMENT BY a. h. turnbull SECOND SALE AT COMPANY AND C0MPANY i CHRISTCHURCH COMPLAINT MADE AT ANNUAL 11 C °" LW - I " MEETING j The followi ng are the London mean I REALISATION, £629,436 i quotations for butter and cheese for ,_. , the' month: — j — lhc heavy taxation which the Butter. average of na \ pound Christchurch Gas Company has to pay in the form of income tax and other N.Z., finest; Jan. 6. Jan.20. Feb. 3. .. 66 0 65 6 66 0 .—.— Government charges, amounting to Kangaroos .. 63 6 62 0 62 6 The following particulars of the scc£14,000 a year, or 8.34d for every 3000 Danish cubic feet of gas sold, was referred Market .. 95 6 86 6 86 6 .. Weak Steady Firm "' oncl Christchurch wool sale held on to by Mr F. I. Cowlishaw at the anJanuary 26 are supplied by the nual meeting of shareholders of the Cheese. Christchurch Woolbrokers* Association: company. Mr Cowlishaw presided in the absence through illness of the N.Z., white Jan. 6. Jan.20. Feb. 3. .. 48 0 42 6 42 6 Offered .. 27,682 bales chairman, Mr Frank Graham. Coloured . . 44 0 42 0 44 6 • • 27,246 bales State and municipal undertakings Market he said escaped this charge, and were .. Quiet Steady Firm Realisation .. £629,436 to that extent in unfair competition Tll ° estimated arrivals in the United Average prices—Per lb 17 032d a with the company. Many deputations Kingdom during February, March, and bale, £23 2s 0.47d. { ron \ the gas industry had waited on April, compared with actual arrivals the Government and made representa in previous seasons, are as follows:— SYDNEY SALES r^L r t ega t rdi /? g tl l e u " f aimess of the present situation, but the industry had New received no redress '"us>"y n~j Zealand Butter. (In tons.) •hT he / n ", UaJ . report was adopted, and clir f -t.tn^ end rec °mmended by the February . 1932. 1933. 1934. 10,371 9,537 14,655 r f i s . was approved and declared March at a subsequent meeting of directors. April George r ™,M tin 2 g * di , rectors - Messrs ?e!el|c e te3°a U r! d d Sff re d e£ed an a d u£orI: S "™^^ 12,937 13,867 14,360 SOME SORTS 5 PER CENT. 9,315 11,012 13,900 DOWN 32,623 34,416 42,915 Zealand Cheese. CROSSBREDS STEADY (In tons.) _„ 1932. 1933. 1934. February 8,626 9,968 11,093 March 13,551 12,631 11,170 (UKITED PRESS ASSOCIATION— By ELICTBIC TELIGEArH—COPYRIGHT.) AUSTRALIAN TRADE ApriI 8.368 11,816 10,907 (Received February 7, 11.20 p.m.) 30.545 34.415 33,170 SYDNEY, February 7. NEGOTIATIONS BETWEEN Australian Shipments Lower.