DAIRY PRODUCE MARKET

Hawera Star, Volume LIII, 4 November 1933, Page 4

DAIRY PRODUCE MARKET

BUTTER AND CHEESE REVIEW CHEESE PRICES SHOW RISE. WHITE AND COLOURED EQUAL. Butter Quotations — This week: Finest 89s to 90s, first 82s; steadier. Last week: Finest 965, first 90s; weak. Last year: Finest 100 s, first 965. Cheese Quotations — This week: White 4Ss, coloured 48s; sudden, advance. Last week: White 475, coloured 465; unsettled. Last year: White 665, coloured 61s. BUTTER.

After closing last week at 96s per cwt. for finest grades and 90s for first grades with a weakening tendency, it was not surprising to find further falls in quotations recorded during the ensuing period. This week’s reports, however, are more encouraging, a shilling rise from the lowest level being recorded together with a steadier market. Production in most districts continues at a high level and prospective heavy early shipments have been largely responsible for the easing tendency in the market. Favourable weather conditions in all producing districts in Australia are also reported and a substantial increase in exports should result from that quarter. No interest in the forward positions is displayed by f.o.b. operators in spite of the fact that London stocks are some 590 tons lower than for the corresponding week last year. This is to some extent understandable when it is remembered that the initial shipment of this season’s, produce, that per the s.s. Port Campbell has, in some cases, sold for as high as 11-Jd per lb. f.0.b., and has arrived and met a market of approximately 88s to 89s per cwt., the f.o.b. equivalent of approximately IOJd per lb. London Importers’ Association also advise a reduction of advances to factories to 9d per lb. finest grades for November shipment, compared with 10£d per lb. for October shipments. 'CHEESE. After cheese quotations reaching the low level of 44s and 45s per cwt. during the week a sudden advance has been reported and values are Is to 2s higher than at last report. White and coloured eiieese are again quoted at the same price. No f.o.b. activity is reported. All last season’s make has now been realised and consigning factories will be able to adjust final payouts for season 1932-33. The recent weakness in markets will probably mean that balance sheet estimates will not be exceeded. New season’s cheese is now arriving and the firming of markets is most welcome. Merchants’ advances to factories have been Ipwered to 4d per lb. for November. Average London retail prices for New Zealand cheese remain at 6d per lb.

London deliveries for the past week are approximately 5900 crates in excess of corresponding week last year, but stocks remain high, there being 65,19 S crates in store compared with 38,622 ■rates for the same -week in 1932. Canadian cheese is quoted at 47s c.i.f.