BUTTER AND CHEESE

Evening Post, Volume CVIII, Issue 121, 18 November 1929, Page 14

BUTTER AND CHEESE

PRICES AND STOCKS

Dnited Press Association—By Electric Tele-

graph—Copyright.

(Eeceived 18th November, 9 a.m.)

LONDON, 16th November. The butter position shows no improvement, and the downward movement has been - accentuated, accord ing to market reports of one of the leading importers, by offers made from Australia for prompt shipment at loos to 160s per cwt c.i.f. This has made buyers uneasy, and they are not at all keen to pay 12s to 14s more for their current supplies. It is apparent that all retailers are now working down their cold-stored stocks to the lowest possible basis, and it is only reasonable to expect improved demand betore long.

The New Zealand Dairy Produce Board has received the following market report from its London office, dated IStli November, with prices for the week before in parentheses: —

Butter.—New.Zealand, salted 170s to 174s {.170s to 1745; last year 172s to 178s) unsalted lS2s to ISSs (184s to lS8s), 170s to 174s equals approx. Is 4%d f.0.b., Ist whey 162s (162sJ, 2nd whey 160s (160s). Deliveries New Zealand this week 1300 tons, in store 4800 tons, including 11 000 boxes new season's ex Karamea. (Last year 3400 tons in store). Australian, salted 168s to 172s (168s to 1745), unsalted 175s to 180s (178s to 182s); Argentine, unsalted 172s to ■ 176s (174s to 178s); Irish creamery, salted 172s (1725), unsalted 176s (1765). Danish, 172s f.0.b., 188s to 190s spot (181s to 186s-190s). Dutch, unsalted, 188s to 190s (196s to 198s); Latvian, unsalted 1765; Siberian, 166s to 168s (166s to 168s); Ukranian, 168 ato 170s (168s to 170s); Polish, 152s tp 162s (152s to 1625). Market quiet, prices still irregular. New Zealand retail price reduced to Is 9d, Danish to Is lOd.

Cheese. —New Zealand white, 93s to 94s (93s to 945; last year 106s to 108s), coloured 92s to 93s (92s to 935; last year 104s to 105s); 92s to 94s equals approximately 8 5-8 d f.o.b. Deliveries New Zealand this week 11,640 crates; in store New Zealand 30,000 crates (last year 19,000 crates). Canadian, white and coloured 95s to 98s (95s to 98s), c.i.f. 93s (935). Deliveries Canadian 21,256 boxes, in store 201,514 boxes, as compared with last year 22,126, in store 128,740 boxes. Market firm at close.'Eetail prices unchanged. Reporting on the stock position at Ist November, the Dairy Board states that the following are the stocks of butter and cheese held in Canada: Butter 10,379 tons, cheese 10,877 tons. Last year the holdings were 11,161 butter, 10,883 cheese. Taking into account Canadian cheese both in Canada and the United Kingdom the position shows: In Canada 10,877 tons, in United Kingdom 9463 tons; total 20,340 tons. Last year the position was 18,235 tons cheese.

The following are the stocks "of butter and cheese held in United States America: Butter 61,751 tons, cheese 34,849 tons. Last year butter was 47,278 tons, cheese 36,660 tons.

The position of stocks at Ist November was as follows: —Butter: Estimated stocks of New Zealand butter in London, including private and provincial stores, 12,500 tons; stocks in New Zealand, including loaded into steamers not sailed finally at Ist November, 3825 tons, New Zealand stocks about, 9700 tons; total 13,525 tons. Last year the total was 14,669 tons. I Cheese: Estimated stocks at London, Liverpool, and Bristol: New Zealand and | Australian 2789 tons, Canadian 9463 tons; total, 12,252 tons. Last year the total was 8866 tons. Stocks of cheese in New Zealand, including steamers not sailed finally at Ist November, was 4286 tons, and stocks afloat (from New Zealand) 7499 tons; total 11,785 tons. Last year the total was 13,545 tons. The grand total in sight was 24,037 tons,, compared with 22,411 tons cheese Ist November, 1928. * COMPETITIVE SHIPMENTS. Shipments of Australian and Argentine dairy produce for the period Ist August to 31st October this year were: Butter 5747 tons, cheese 111 tons, as against butter 8307 tons and cheese 1107 tons, for 1928 period. Shipments from the Argentine were 883 tons butter, compared with 2675 tons last year. NORTH AMERICAN PRICES.

The Dairy Board has also received the following adivce from its agents in Canada:—Butter: New York 40% cents (Is Bttd). U.S.A. butter stocks, 138,000,0001b, compared with last year 106,000,0001b. Halifax,39% cents (Is 7 7-8 d). Canadian stocks 23,000,0001b, compared with last year 25,000,0001b.