DAIRY PRODUCE.

Hawera Star, Volume XLVI, 23 April 1926, Page 5

DAIRY PRODUCE.

REVIEW OF PRTC-ES,

The following are the top quotations for dairy produce received of recent weeks: — Mar. Ai>l. Apl. 31 . 9 16 Danish butter 190 s 182 s 180 s N.Z. butter, unsalted 178 s 178 s 176 s N.Z. butter, salted 17Gs 176 s 174 s N.Z. cheese, white 98s 97s 96s N.Z. cheese, coloured 100 s 98s 97s Butter quotations have remained remarkably steady for the past month at 174 sto 1765. Latest quotations show a falling of 2s on last week’s prices, thsi being mainly occasioned by the fact that the Danes' have again reduced their prices, their quotations being 180 s, as against 194 s a month ago (reports Messrs A. 11. Turnbull and Co., New Zealand agents for Weddcls). The fact that Danish butter is quoted down as low as 180 s is having a depressing effect on all butters. Unless an unexpected Continental demand arises, we do not anticipate there will be any firming in the near future, for, although the statistical position as far as New- Zealand is concerned is strong, it must be remembered that there are very jieavy supplies- of butter being held off the market in London, and these will have to be cleared during the next few months.

Gradings for March show a slight decrease against the figures for the same month last year. The shortage in butter production for. the eight months up to the end of March, as compared with last season, is 8000 tons, shipments for this period being 7000 tons less. From allotments which have been made for shipment, the arrivals during May and June will bo much the same as last year, and it looks as though the arrivals during July, August and September will not show any increase on last year’s figures. There has been a fair demand: for high grade butter for Melbourne, and considerable quantities have been sold and shipped at as high as Is 6d per lb f.o.b. New Zealand factories have now advanced their prices and Australian buyers are not showing the same interest at the advanced rates. If Australia could absorb some of the 11,000 tons now awaiting shipment, it would certainly assist the position in the United Kingdom and make the prospects of those factories who are holding butter look considerably brighter As far as the United. Kingdom is concerned buyers are showing practically no interest in forward butter at the present time. Sales were made at round about Is sfd, and in some eases a fraction .higher, about a fortnight to three weeks ago, but the inquiry seeips to have fallen off altogether. The cheese market is somewhat weaker than it has been so far this season, and, in view of the fact that arrivals during May and June will not show any falling off in comparison with last year’s quantities, and also taking into consideration the fact that we have 18,000 odd tons of cheese in store in New Zealand, as against GOOO last year, we do not anticipate any firming in prices. As far as we can judge at the present time, it looks as if our arrivals during July, August and September will be much heavier than they were last year, and if this cheese has to come into competition with the flush Canadian make, we might find a further weakening and possible fall in prices. However, the cheese position depends very much on the climatic conditions in the Northern Hemisphere during the next month or two, and it is rather early to make any definite forecast. It must be borne in mind that we have an increased production this season of 3000 tons, whilst shipments have been held back, leaving a much greater quantity to be marketed during the end of our season, in possible competition with the Canadian make.