LONDON MARKET

Dominion, Volume 20, Issue 72, 18 December 1926, Page 13

LONDON MARKET

BRISK MOVEMENT ON DAIRY PRICES FAIR PROSPECTS AHEAD According to a review in the December issue of the ‘N.Z. Dairy Producer Exporter,” the prospects ahead on the Loudon market for butter and cheese are fair, aud rather better than at this period last year. , .. j Brisk movement has neen witnessed since last issue, states the review, and prices have been lifted from 1465.-1545. to 170 s -1765, but from the latter figure has eased back to 1725. Twelve months ago at this stage, produce held Un in New Zealand by the utterly unwarranted shipping strike was just beginning to reach London in volume, and sympatnetically London’s price crashed frorc 210 b. to 1765. The disservice rendered to our dairy industry by that labour difficulty must be held responsible for a good deal of the unfortunate marketing experience of the past twelve mouths. It backed up supnlies and forced factories on to a holding policy in respect of a greater volume than otherwise would have been the case. Farmers are certainly entitled to protest at such unreasonable labour interterence with vital transport needs, aud have cause to remember the sustained occasioned by the shipping strike of 192 a. Arrivals this year are on a better basis than last year. Last January s butter arrivals totalled 526.568 boxes, this year s anticipated figures are 351,0C0, and or this quantity the bulk falls late in the month. The better spread this year, together with the board’s marketing policy should have a steadying effect unon the usual January drop, more particularly as firmness is indicated by the position in Canada and AustraliaCheese 'has shown a healthy recovery, which is very gratifying. This is due to the miners resuming consumption, ana the absorption of old stocks. Prospective arrivals here. too. are on a better basis than last year Prompt dispatch has been aimed at in connection with an cheese so far made. December-January arrivals total 217.060 crates against 291.C00 for the same months last season, when the strike accumulations fell on the market' THE RANGE OF PRICER.

Hifh Commissioner’s prices since last issue compared with last year, are as follow.— BUTTER. Last year. N.Z. N.Z. salted. Dan. salted. Dan. S. s. s. 6- s. s. s. B. *fov 27 - 146-154 170-172 206-210 218-220 Dee' 4 .. 160-166 182 194-198 210-214 alec" 11 .... 168-170 190-192 176-180 190-196 CHEESE (Coloured!. Last year. N.Z. Can. N.Z. Can. S. S. 6. S. S. 6. S. B. Nov. 27 84-85 86-83 — 114-116 Dec. 4 „... 93-94 92-96 — 110-112 Dec. 11 95-96 95-98 , — 108-114 Quotations for white cheese have been the same price. LATEST ADVICES. The board has received the following cablegram from the Loudon office, dated December 10, 1926:— Butter.—New Zealand finest, 1765.; first, 1745.; stored, 1645. to 1665. Market firm but quiet at advanced prices. Australian, 1665. to 1705., stored 1545. to 1645.; Canadian, 1645. to 1665.; Argentine, 1565. to 160 s-; Dutch. 1925. to 1945.; Siberian, 150 s. to 1545.; Danish, 190 s. to 1925. Retail prices unchanged. German market advancing, but meantime confined to lower grades, colonial. French market improving, principal demand unsalted. Cheese.—New Zealand finest, 965.; first. 955. white and coloured. Canadian, finest. 955. to 985.; first. 90s. to 945. Market. steady, but slow. Retail prices unchanged. , . On December 15 further advice was received that prices haf been reduced to 170 s. first. 1725. finest, to stimulate demand and revive the market formerly reported quiet. N.Z. ARRIVALS TN UNITED KINGDOM. December. 1926-17. 1925-26. 1924-25. Butter (boxes) 306.712 200,051 Cheese crates) 90.890 92,528 43,868 January. Butter (boxes) 351.287 526,568 320.670 Cheese (crates) 147.196 208,900 113.147 This year’s figures subject to timetable being kept by vessels.