BUTTER AND CHEESE

Evening Star, Issue 19841, 14 April 1928, Page 3

BUTTER AND CHEESE

REPORT FOR MONTH In their report for the period March 16-April 5 Messrs A. 11. Turnbull and Co. state : “The butler market has steadily weakened throughout tho month, showing a fall from 176 s to 170 s for New Zealand salted. Tho apparent reasons for this decline are, first, the rapid recovery of the Australian pastures and production, with anxiety on the part of holders to realise their stocks; secondly, the diminished consumption owing to higher retail prices. Many of the larger buyers in the United Kingdom, having filled their immediate requirements, are now inclined to hold off. “Messrs W- Weddel and Go.. Ltd., have cabled us that they consider the market will depend very much on the Northern Hemisphere production—that is to say, if there is an early and Hush spring they do not anticipate any great tinning in the market; but, on tho other hand; should there ho a late spring, there is every prospect of a general improvement in the butler posi- | tion.

“At the cud of March there were only about 6,000 tons of butter in store in New Zealand, as against nearly 14,000 at the same period last year. This shows that much less butter will be shipped during the latter part of the season than was the case last year, and this should have a considerable effect in keeping prices up to a high level in Loudon. “ With the weakening in spot quotations forward buyers have shown much less interest, and although a few sales were made during the month, at Is 5d for finest Alarch shipment, London, buyers have now retired altogether. Cheese remained at a high level throughout the month, but there is a slight weakening in spot quotations. The position, however, we think is sound, and although we may find that prices recede a little we still think that the balance of our season’s make will reach a strong market. The cheese stocks in store in New Zealand are only about half the quantity in store at this time last year. Considerable quantities of cheese were sold at from S]d to 9d for end-of-season’s make from January onwards, but buyers now seem to have filled their requirements, and there is no further inquiry in tho meantime.”