DAIRY PRODUCE MARKETS

Hawera Star, Volume LIV, 2 March 1935, Page 4

DAIRY PRODUCE MARKETS

Butter Shows Further Decline During the Week CHEESE SALES MORE STEADY ■- ACCUMULATION OF STOCK

Butter Quotations — This week: 80s to 82s. Dull. Last week: 84s. Quiet. Last year: 725. Cheese Quotations — This w'eek: White 46s to 46s 6d; coloured 46s to 46s fid. Steady. Last week: White 47s fid to 48s; coloured 47s fid to 4Ss. Quiet. Last year:' White 435; coloured 455.

BUTTER. Contrary to most expectations the butter market has shown a further decline during the w'eek, quotations being 2s to 4s lower, although, still maintaining a lead on last year’s figures. No f.o.b. business has been reported and to-day’s spot prices are equal to approximately 9£d per lb. The further easing of values was also reflected iu merchants’ advances for March, which are announced at 8d per lb„ -being a halfpenny per lb. lower than the rate for February. London deliveries were slightly heavier for the w'eek and the stock position is sound, being showm at some 200 tons less than at the corresponding date last year.

Average London retail prices are lid per lb. for New Zealand butter and Is 2d per lb. for Danish. Australian butter production continues to be in excess of last year’s figures. Reports from Australia for the week ending February 9 show that fairly favourable weather conditions prevail. Gradings at Sydney for the w'eek mentioned showed 8000 boxes in? crease on last year, ‘Melbourne 1100 boxes increase and Brisbane 10,006 boxes increase.

CHEESE. As w’ith butter the market has shown a decline, but cables indicate a steadier tone at quoted rates. White cheese is well in advance of last season’s prices, but it was expected' that, with, the sharp decline in production, that the market would have held. Factories continue to report a decline over last season’s figures.

During the week there were some indications of f.o.b. business at up to s§d per lb. (equal to about 51s per cwt. landed terms), but no sales have been reported in this district. London deliveries for the week ending February 22 were 3000 crates under last year’s figures, and the stock position is more unfavourable, being shown at 129,565 crates, compared with 49,720 crates at the same date in 1934. It is the accumulation of stock that is, no doubt, having a marked effect on current values.

New Zealand dairy importers’ advances for March are 4d per lb., being unaltered from the previous month. Average London retail price of New Zealand cheese remains at fid per lb.

LONDON MERCHANT’S CABLE Messrs, Henry A. Lane and Co., Ltd., Hawera, report having received the following cabled market report from tbeir London office:

Butter: 80s to 82s. Market rather unsettled. Prices should improve, but position somewhat uncertain. Cheese: White 46s to 46s fid;-colour-ed 46s to 46s 6d. Market steadier.

BOARD’S MINIMUM PRICES (Bv Telegraph— Press Association.) WELLINGTON, To-day. The Dairy Board has fixed its prices on the basis of 9§d for butter and 5Jd. for cheese, equivalent to 78s fid and 45s lid respectively e.i.f.e.