DAIRY PRODUCE.

Hawera Star, Volume XLVII, 17 October 1928, Page 12

DAIRY PRODUCE.

LATEST LONDON QUOTATIONS. The New Zealand' Dairy Produce Board has received the following market report from its London office, •:1a feel October 12, 1928: BUTTER. New Zealand .—Salted , 178 s to 184 s; unsalted butter very scarce’; first grade w.liey. 164®; second grade whey, 1 60s. Da iv cries X.Z. this week, 650 tons. In store N.Z. this week, 3250 tons. Austral ian.—Finest saptedi. 166 s to 1725. _ _ . Argentine.—Finest unsalted, 176 s to 178 s; exceptionally, 182 s. Irish creamery.—Salted 174 s to 1765; unsalted. 178®. Dutch.—Unsalted, 188 s to 1925. Estho-nian.—lßos to 186 s. Siberian.—lsßs to 160 s. Ukran.ian. —‘162® to 1645. Danish. —192 s to 1945. Market quiet, except for unsalted butters. Retail prices unchanged. CHEESE. Now Zealand. —White, 110 s to 112 s; coloured 109 sto 111®. Deliveries N.Z. this week. 4850 crates. In -stone this week, 26,600 crates. Canadian. —White and coloured, 108 s to 112 s; e.i.f. 108 s. Demand improving. English.—Finest farmers’, 138s' to 140 s. Retail prices unchanged. Tekoa, commenced discharge butter on G'rtofcor 4. finished October 5. The- board has also received the following advice from its agents in Canada : llatte"—New York. 47 cents* (Is 11 Acl 1 ) ; Montreal. 38} cents (1® 7fd). Canadian butter stocks, nine million lxmncls below last year.

REVIEW OF PAST FIVE WEEKS Messrs A. H. Turnbull and Co. report for the past five weeks as under: Butter. —Quotations in London for New Zealand salted butter have remained steady throughout the past five weeks, but the tone of ‘the market has changed from firm to quiet. Owing to a dry and warm autumn and conse-; quent falling off of supplies :n Omtmental countries, there has been more demand for Danish with a resultant sharp rise to 200 s in London, hat a subsequent reaction has reduced the quotation to 1965. ■ Australian (Kangaroo brand), both salted and unsalted, have fallen rapidly. notwithstanding the ri.se in Danish and the waterside strike in Australia. October shipment butters of this brand are now offering e.i.f.e. at 154 s for salted and 166 s for unsalted. This, combined with the September gradings in Ne\y Zealand, wilieh are appended and show an increase in butterfat production of 17.47 per cent, have had their immediate effect on the New Zealand butter market and forward selling has almost entirely ceased for the time being. Cabling this week, Messrs W. Weddell and Co., Ltd., refer to- the present position as follows; “Colonial butter market featureless. Drop in Australian quotations for October shipment to 154 s e.i.f. causing spot buyers to operate only for their immediate requirements. ' Market appears more likely to decline than advance.” Cheese.—Market continued steady and firm until the end of September, when the increased production in New Zealand, together with lower quotations f;om Canada, somewhat weakened the market with a drop of Is per ewt. London advise that a further fall in prices may be expected during the present month, but that they hold a good opinion of the future and consider that prices should follow much the same course as last year, when the end of the season production benefited by tli? higher rates ruling.