STILL SOARING

Evening Post, Volume CXX, Issue 86, 8 October 1935, Page 12

STILL SOARING

BUTTER AT 122 SHILLINGS

SHORTAGE IN PRODUCTION

Private advices received by cablegram from London today report New Zealand butter as selling in London at 122s per cwt. This is in contrast with 97s to 98s-per cwt on September 1 and 66s to 70s per cwt as on October 4 last year. - The London market for New Zealand butter closed on Saturday at 120s per cwt. The butter stock position is acute. The Dairy Board's cabled advice from London as at October 1 was as follows: Oct. 1, Oct. 1, 1935. 1934. ■ ■ Tons. Tons. Butter stocks in U.K. 25,381 39,000 N.Z. butter afloat ... 10,269 10,612 35,650 49,612 From a New Zealand producing point of view September was a most unfavourable month due to unkindly weather arid its effects upon dairy herds. , It is estimated that final returns will show a fall in the butter output for last month of 10 per cent, on the return for September, 1934. . Free on board business is active at the moment, arid "The Post"'has been informed that 14d per lb has been paid for parcels of butter for prompt shipment and 13£ d for, early November shipments.: .Butter factory directors in general are:,reported' to be not over eager to accept even these' high prices, apparently having confidence.in the future of .the.market by the.time their produce will arrive there, ■ Inquiries have also been ■ made for cheese at 6d per lb for prompt 'shipment, and some business at that price has been reported. . - Here, again: there is likely, to be a shortage of production in New Zealand, going by present indications. It is estimated that as compared with September' of last year the production of cheese for .last month, will show a falling off of 30 to 35 per cent. Stocks of Canadian and New Zealand cheese' in the United Kingdom are down on those of last year, the Dairy Board having received advice by cablegram from London of the position as it was on October 1: — - Oct.l, Oct. 1, 1935. 1934. Cheese Stocks. Tons. Tons. Canadian ....... 5,775 4,637 N.Z. and Australian . 6,897 8,835 .'■;'■' 12,672 13,472 N.Z. cheese afloat .... 4,855 6,325 17,527 19,797 The present price in London of 122s per cwt for New Zealand butter has not been exceeded since September 1930, when 123s to 128s per cwt was quotejd. * ',■'■'':'■ ■''■-...• ;■"" :*