DAIRY PRODUCE MARKET

Hawera Star, Volume LIII, 2 December 1933, Page 4

DAIRY PRODUCE MARKET

BUTTER AND CHEESE REVIEW WEEK’S DECLINE IN BUTTER. CHEESE QUOTATIONS EASIER. Butter Quotations — This week: Finest grade 735, first grade 71s; unsettled market. iLast week: Finest grade 'Bos, first ?7s; weak. Last year: Finest grade BSs, first 87s. Cheese Quotations — This week: White 48s, 49, coloured 465, 475; market easier. Last week: White 48s, 'coloured 475; firmer. Last j r ear: White 645, coloured 645. BUTTER. The week has shown a very sudden and sharp decline in (butter values, quotations .being 6s to 8s per cwt. lower than at last report. Again f.oib. sellers have had the advantage over consignors, but little f.ojb. business is offering. A fortnight ago 9J per lb. for November and December shipments was offered but the. best bids to-day are B'ld to 8 5/il;6d per lb. finest grades, which after taking exchange into account is equal to 72s to 73s per cwt., London landed terms. Average retail price of New Zealand butter in London is lOd per lb. Even at this low level deliveries for the past week are more than 300 tons less. Stocks are not heavy but are 700 tons in excess of last year’s figures. Arrivals of New Zealand butter in December will be very heavy. Estimates for the coming months are as follows, in comparison with last year: 1932-33 ' 1933-34= December ... 15,000 tons 15,000 tons Jan./Feb 2a,000 tons 33,500 tons 38,000 tons 48,500 tons

Merchants have reduced advances on butter for December to 7d per lb. — last month was at 9d per lb. Australian reports dated November 18 show that most districts are having a successful season. The following are brief reports from the main centres: (Sydney.—Steady increase in production. Melbourne.—Supplies continue to improve, but further rains in northern and western districts are needed. Brisbane. —lAll dairying districts report further excellent rainfalls and the output is increasing rapidly. A record season is promised, as every producing centre reports an improvement and also favourable conditions for continuance. Adelaide. —Production well, notwithstanding dry and hot conditions. IdUBESE. Quotations for white cheese are unaltered over the week, but coloured is Is per cwt. easier. Forward 'buyers aro inactive. ’ First shipments of this season’s cheese have now been sold at j prices ranging from 47s to 's2s. London reports show that the quality of I the early arrivals Is average for that | period of the season. London deliveries for the past week were on a par with last season, but stocks are considerably 'heavier than in 1932. LONDON MERCHANT’S 'GABLE. Messrs Henry A. Lane and Go., Ltd., Hawera, have received the following cabled market report from their London principals:— N’.-Z. butter: Finest 735, first 171 s; unsettled market. NjZ. choose: White 4;Ss, coloured 465; market easier. CONTROL OF MARKETING. AUSTRALIAN PROPOSALS. CANBERRA, Dec. 1. The Minister of Commerce, Mr F. H. Stewart, during his second reading speech in the House of Representatives on the Butter Marketing Bill, stated that the Commonwealth legislation for the control of butter and l cheese marketing would not operate until the State Governments concerned! took steps to protect , consumers against an unreasonable increase in the local price above the London parity. . - , : . The effect of the Bill was to compel the export overseas of any butter and cheese not required for home consumption.