DAIRY PRODUCE.

Hawera Star, Volume XLVII, 11 August 1928, Page 5

DAIRY PRODUCE.

LATEST LONDON QUOTATIONS The Farmers’ Co-operative Organisation Society of New Zealand, litd. have received the following a clvice ’ from their London representative, dated June 20; . Butter. —The market remains arm with a moderate demand, prices being practically unaltered since last week. The tendency of New Zealand, however owing to short supphes 3 is still upward, with Australian meeting a somewhat slower demand, and it seems probable that this position w ill he- continued until more Continental butter is available. For the tune bein<r the larger buyers, having protected" their stocks to a certain extent, are loth to operate further, and prefer to wait until the figures of near Continental arrivals become clearer; this should he more evident during the next two or three weeks. It certainly looks- to us now that the Baltic, Dutch arid Siberian season will be a short- one, and higher prices must follow for the autumn. Danish supplies iust now are s'uffi'ient- to meet the’ demand, selling steadily at 165 - f.0.b.. while Irish clears well at 170 s landed. Cheese is very firm, with New Zealand at 104 s and Australian at 100 s to 101 s, but a good deal of demand is still speculative.

REVIEW OF THE PAST MONTH’S BUSINESS. Commenting on the dairy nroduoe market over the period from July 13 to August 4. A. H. Turnbull and Co., of Christchurch, stated; With the exception of unsalted butter, which is now in short supply, the market generally shows some weakness. with a. slight fall in prices during the past week. Messrs. W. 'Weddel and Co.. Ltd., explain the position by cable as follows: Both butter and cheese prices have advanced owing to hot and dry weather both in the United Kingdom and in the Continental dairying districts. Production has been severely curtailed, resulting in heavy forward buying by merchants to protect t'em-selvos •against a possible shortage between the seasons of' the Northern and Southern Hemispheres. Better conditions then prevailed and buyers withdrew. leaving the spot market somewhat uncertain with slightly lower values. The market closed steady, and there is little likelihood of any material alteration in prices in the immediate future. Stocks afloat and in the United Kingdom are- considera.hlv lighter than is usual _at this period of the year, hut against that the higher range of market values has impeded consumption. Coming to new season’s- output, business both with the United Kingdom and Canada has been quiet, and no sales of importance- recorded since our last report. Cheese. —London market closed very firm, with values up to 112 s. During the past- month there have been good buying orders- from the- United Kingdom, and manv factories have sold their make to the end of December at prices up to 9-}d per lb f.0.b.. and in a few cases at 9id for the season-. At the moment forward buyers, have. retired, having secured their immediate requirements, hut everything points to a most favourable season for our cheese factories.