DAIRY PRODUCE

Dominion, Volume 25, Issue 144, 14 March 1932, Page 12

DAIRY PRODUCE

Butter Quiet at 110/112/CHEESE STEADY AT 61/63/-. The London butter market closed quiet on Friday, N.Z. salted at 110/112/- showing a rise of 2/- a cwt. on the week. Retail prices were unchanged, N.Z. at 1/2 and Danish at 1/4 a lb. The Empire Marketing Board’s estimate of the stocks of all butters as at March 5 is 358,109 boxes, compared with 266,695 boxes a year ago. The cheese market is quiet at an advance of 1/- per cwt. on the week. The Dairy Board’s London office reports that the quantity of New Zealand butter in store is 3800 tons, as against 5050 tons a year ago. New Zealand cheese in store amounts to 75,318 crates, as against 140,000 a year ago. Friday’s prices,, with those for the previous week in parentheses, are as follow: — Butter. New Zealand, salted, 110/112/- (108/ 110/-; March 12, 1931, 118/120/-).; unsalted, 114/118/- (114/118/-; March 12, 1931, 124/128/-). 110/112/- equals approximately 113-8 d f.o.b. First whey, 102/- (104/-); second whey, 100/Australian, salted, 104/107/- (103/ 106/-); unsalted, 106/110/- (106/110/-). Argentine, unsalted, 104/110/- (106/ lO7- f.o.b. ;128/- spot (118/-; 136/140/-). The board has also received the following advice from its agents in Canada :—Butter: New York, 22} cents; Montreal, 25 cents. Cheese. New Zealand, white, 61/62/- (60/ 61/-; March 12, 1931, 55/57/-); coloured, 62/63/- (61/63/-; March 12, 1931, 57/59/-). 61/63/- equals approximately 6d f.o.b. Canadian, white and coloured, 08/ 72/-; ex. 74/- (68/74/-; 68/72/-). Agents’ Reports. The New Zealand Producers’ Co-opera-tive Marketing Association’s weekly cabled market report from London dated March 11, is as followsßutter: Market quiet. New Zealand, 110/- to 111/-; unsalted, 114/- to 118/-; Danish, 128/-. Cheese: Market quiet. New Zealand, white, 61/- to 62/-; coloured, 62/- to 63/-. Canadian, white and coloured, 68/- to 72/-. - . , , , , Mr. Thomas Gray has received the following report, dated March 11, from Mr. A. C. Rowson, London :—Cheese: Deliveries, N.Z. and Australian, 22,693 crates; Canadian, 8382 boxes. Stock, N.Z. and Australian, 79,801 crates; Canadian, 124,699 boxes. Price, 61/-, 62/-, white; 63/-, coloured. Butter: First grade, 110/-; finest, 111/-. MARKET PROSPECTS GOOD Forward Buying In their market report, dated March 10, A. H. Turnbull and Co., state that W. Weddel and Co., Ltd., have cabled that they expect a firm market for butter, and they have a good opinion of the future. The general stock position is certainly good, and the exceptionally heavy consumption continues, both in the United Kingdom and on the Continent. “With the possible shortage of Continental supplies and ■ the low stocks :n America, one can certainly feel that we should have a steady market, provided no unforseen circumstances upset the position.” There has been a steady demand for butter by forward buyers throughout the month, starting at 105 d, and running up to as high as 11 3-Bd. However, when the Continental demand slackened, forward buyers withdrew temporarily, but are now again active and have increased their bids to lljd f.o.b. The stock position of N.Z. cheese is very strong indeed, the quantities in store on March 5 in the United Kingdom being less than half the quantity on the same date last year. The arrivals of N.Z. cheese during March, April and May will be approximately 6000 tons less than the arrivals for the same period last year. Dominion gradings of cheese are not excessive, and the stocks in store in New Zealand are only on about a par with last season. W. Weddel and Co., Ltd., cable that on account of the stocks in London being so low as compared with last year, they expect the market to be steady, with more prospect of a rise in prices than a decline.

There has been a fair demand in forward cheese by one or two buyers, and February/March make has been sold at from 6d to 6}d per lb, but factories generally are more inclined to favour a consignment policy at the moment, and with the stock position as it is, it appears to be sound policy.

DUTIES. AND QUOTAS Danish Prices Low The Dairy Board has received the following cable message, dated March 11, from its London office: — “Italy increased duty on butter to 250 lira per 100 kilos. Switzerland reduced duty by 30 francs to 150 francs per 100 kilos, but is imposing quota from April 1. I “France increased import quota for March quarter further 1200 tons to 3600 tons. “Export of imports from London to Continent negligible. Germany small buying owing to difficulty securing foreign exchange. Danish exports have not cleared this week, and are offering to-night at 102/104/- f.o.b. Recent high prices of Danish butter stimulated Northern demand foi; box butter.” ' LIVE STOCK MARKET Gisborne Values Dominion Special Service. Gisborne, March 12. At the Gisborne sale the fat sheep entry totalled 600. A brisk sale saw the recovery of last week’s drop in prices. Ewes, 6/- to 7/6; wethers, 10/to 11/1; lambs. 9/7 to 10/1; secondgrade ewes, 5/1 to 6/-; lambs. 7/6; wethers, 8/11 to 9/1. Beef had a poor sale. Choice cows. £3/17/6; Jerseys. 30/- to 35/-; quality vealers. 25/- to 35/-. An improvement is unlikely, as station fat cows are purchasable privately at 45/-. The store sheep entry was 15,000 head. Ewes declined by up to 1/6 a hend. Wethers were firm, and lambs a little easier. Ewes, sound mouth, to 5/3; six-year, good. 5/4; medium, 3/9; five-year, good, 6/- to 7/7; fairly good. 4/9; four-year, good. 6/3; sixtooths. 6/- to 7/1; four and six-tooths. good, 8/1: four-tooths. quality, 9/-; moderate. 5/9: four and six-tooths. quality, 10/6; two-tooths, good, 9/9 to 10/6; two-tooths, good. 9/9 to 10/6; fairly good, 7/5 to 8/10; lambs, good woolly. 6/4; good shorn, 6/2; wethers, lusty two-tooths. 9/2; good stores. '7/11 to 8/9; medium. 7/1; small fair condition. 6/3 to 6/11. Upper Hutt Sale At the Upper Hutt sale on Thursday Associated Live Stock Auctioneers Ltd. offered a yarding of 657 sheep and lambs. Bidding was brisk, and a total clearance was effected under the hammer at prices comparing favourably with recent sales, the majority ef the jajdins soina to