DAIRY PRODUCE

Evening Post, Volume CXIII, Issue 11, 14 January 1932, Page 14

DAIRY PRODUCE

•THE- MARKET REVIEWED

•'A'"review" of the dairy produce market for December has. been supplied by 3(Jessrs. AY H. Turnbull and-Co., Ltd. Referring to butter, they state that the market has been slow ■ and disappointing throughout, the month of December, but there has been a slight improvement in tKe spot market early in January, chiefly due .to the. strike of lightermen. Messrs. W. Weddel and Co., Ltd., have cabled that the market collapsed when'the. Australians resumed their cheap offerings of '^Kangaroos." .■ These. were offered down to as law as 935, e.i.'f.e., and the Australians also exercised extreme pressure to sell spot stocks, this on account of the heavy arrivals of Australian during the month. The consumption of New Zealand butter' lias been well maintained, but in these unsettled-times it is difficult to forecast how the market will move in the immediate and more distant future. There has been: a fairly steady inquiry for forward buyers during the past few weeks, and a-considerable quantity of butter was sold at lOl&d f.o.b. ocean steamer for JanuaryITebfuary shipment, and buyers later increased their limits to 10% cl, and a greater qvantity : still has been. sold. at.this price. At the moment forward buyers seem a little less active.

I'he cheese market lias also been very disappointing, and has shown a drop throughout the' month. The spot market has improved; somewhat, owing: to the strike of lightermen.' The quantities of New Zealand cheese due to arrive in London in January-February and March are not quite as great as the quantities of the two previous seasons for the same period, so -it is. hcnied that the- market will jiot show any further decline, but that possibly we may; see some improvement. The New Zealand Loan and Mercantile Agency Company, Ltd., lias received the iollowinß advice from its London office, dated: 13th. instant:—: •

"Dairy produce (last week's figures in parentheses): Butter—New Zealand, choicest salted, 9.Bs..per. cwt;..(loos to- 101s). Cheese: White,.s7s to"sßs"per cwt (595); coloured), 56s to 57s per cwt (56a to 575)."