DAIRY PRODUCE MARKETS

Hawera Star, Volume LIV, 9 March 1935, Page 4

DAIRY PRODUCE MARKETS

Butter Shows Further Decline During Week CHEESE SIMILARLY AFFECTED MARKET CONDITIONS QUIET Butter Quotations — This -week: Finest 75s to 765. Quiet. Last week: Finest 80s to 82s. Slow. Last year: Finest 725. Cheese Quotations — This week: White and coloured, both 45s Gd to 465. Steady. Last week: White and coloured, both 46s to 46s 6d. Slow. Last year: White and coloured, both 43s 6d. . BUTTER. A further sharp decline in butter prices has now brought week-end: quotations to 75s to 76s per cwt., but market conditions are ~ reported to be slightly steadier. During the week sales were made as low as 74s per cwt. and it was reported that the heavy Australian shipments were having an effect on market conditions. Traders consider that prices should again firm, but the position is most uncertain, having full regard to Australian, shipments and the oncoming Northern Hemisphere season. The London average retail price for New Zealand butter is unchanged at lid per lb. and Danish is quoted at Is 2d per lb. The New Zealand stock position remains sound, being shown at 2400 tons less than at the corresponding date last year. London deliveries for the week ending March 1 were on a par with the same period last year. * CHEESE.

As with butter, a decline in spot prices for cheese is shown over last week’s figures. No f.o.b. business is being offered. The decline in cheese prices is not accountaole in the same manner as fOr butter. With cheese, New Zealand holds a strong position in the fact that it supplies over 70 per cent, of the United Kingdom’s total imports and it is expectedvthat its production will show a decline of at least 10 per cent, over the season. With the prospect of at least 10,000 tons less New Zealand cheese, it would be natural to expect a firmer tone in the market, but a glance at the stock positon reveals that 125,708 crates were on hand at March 1, as compared with 74,674 crates at the same date last year. With stocks in this position, it is little wonder that market conditions arc quiet. LONDON MERCHANT’S CABLE. Messrs. Henry A. Lane and Co., Ltd., Hawera, report having received the following cabled market Teport from their London office: Butter.—75s to 765. Market steadier.

Cheese, both white and coloured. — 45s 6d to 465. Market quietly steady.