DAIRY PRODUCE.

Hawera Star, Volume XLVII, 14 November 1927, Page 8

DAIRY PRODUCE.

LONDON MARKETS, HEYTE'V OE PAST MONTH. A. H. Turnbull and Company, of Clnistchurpjii, forwards a review of the London markets for the four weeks ending November 4, as under: — buttjsr. During the month., the market has been dull with prices gradually declining. Buyers are not inclined to replenish stocks in view of the ineveasino* supply of new season’s butter, winch is becoming available. New Zealand arrivals in November will be a 000 tons as against 2,800 tons last season, whilst the estimated arrivals for December are 7,000 tons as against •3,400 tons. We nave no arrived at what may be considered the most critical period of the dairy piroduce season, that is, the time of' short supplies on the Home market iinmediately prior to the peak of production in the Southern Hemisphere, andflhe commencement of heavy shipments from this Dominion. Great importance's placed by the trade in London, upon shipments afloat and the advice of heavy afloats is invariably followed by cautious buying ahead and often by sudden decline in values. Taking the line of the chart of Lon-, don values, vve find a slight depression during October, a short and generally sharp rise in November, with a return to lower values in December, immediately the holiday requirements have been Covered and we cannot but help thinking that we must expect Die same course to be followed this year. The increase in shipments from New Zealand will go a long way to counterbalancing * The Australian shortage. Latest reports advise the market as being steady, 'so it is to be hoped that bottom has .been reached. T CHEESE. The market has weakened a little in anticipation of arrivals from New Zealand of§hew season’s make. Arrivals m NoVember and December will be 10,-000 thus as against only 5,000 tons for the same months last year. These seems to be no activity by forward buyers, who are no doubt waiting to see whether the market can absorb the November and December arrivals before buying further. One hesitates before writing in a pessimistic fein, but to our mind the present cheese position is not as sound as we wouldSvish. it to be. The' market has been buoyed up by short supplies on one hand, and by the fact that speculators a large percentage of the Dominion’s make to the end of November and December. They have, in many cases, been anxious sellers at anything that would cover their later purchases, and once these stocks have been marketed we must expect a fall in values for December and January* -make onwards.