THE ACE OF EXPORTS

Evening Post, Volume CVI, Issue 79, 1 October 1923, Page 6

THE ACE OF EXPORTS

In the list of exports from New Zealand butter and cheese correspond to the ace in value in cards. The dairy produce '< exports have surpassed in value both wool and meat in recent years, and for the first seven months of the current year (the latest available figures) the position is as follows:—

'£ bairy produce 12,682,644 W°ol 9,074,092 -Meat and products ...... 7,485,687 Butter and cheese combined represent an export value of £12,272,547, the above figures including milk powder and casein, as there are included other products as well as carcass meat in the meat figures. From July onward the prices for export up to the end of this month, and a little way into November, have been approximately Is 7d per pound for butter and lqjd for cheese, and consignments on dairy farmers' account for butter and cheese will benefit by lower freight rates. Today's cablegram reports of the butter and cheese, markets are decidedly favourable. It sounds like Cove to repeat the message, "the butter market gets stronger every day." It is also added that the " cheese position is very strong." The prospects, so far, are all for stiff prices up to the end of the year, and up to that time the prices of butter and cheese bought at Is 6d to Is 7d, and cheese at from 10^d to 10|d per pound, appear to be fully justified. Dairy co-operators who have elected to ship and passed the above prices obtainable at this end will participate in the benefits of the high market rates that seczn inevitable up to the end of the year. But beyond that there does not appear to be any inclination to predict the continuance of current prices. They_ may. have a .sharp, fall, .they.

may be maintained, or even advance ;-,but in any case it does not appear to be safe in banking on present values ruling beyond December until the new makes from Northern sources of supply become available, and the market necessarily eases down in values.