CHEESE VALUES.

Manawatu Standard, Volume XLIII, Issue 398, 12 August 1921, Page 5

CHEESE VALUES.

.PROSPECTS STILE GOOD. 'J lie report from Wellington that London buyers have issued instructions to their agents to cease buying this season's cheese output does not mean anything unusual, in the opinion of a representalivo of several Manawatu co-operative cheese factories, ’•» ho was interviewed this morning. There was a- possibility of the big cheesoiinporting firms in London trying to cause a drop ,iu values, or to arrest the upward tendency of prices, he said, but it also had to be recognised that direct buying from the London market usually ceased at about this lime of the year. The position was (bat the wholesale buying firms secured u certain proportion of their normal requirements by dealing in the local markets, and wore able to fulfil their contracts with smaller buyers and base their sale prices ou (lie amount they had paid in New Zealand. For the rest of their requirements they relied ou the consignments forwarded by cheese factories on their own account, relying on the. competition .so caused, and talcing an ordinary speculative risk on the vise or fall of prices. Northern cheese producers preferred to take the chance of wearing higher prices on. the open market, and it was usual for thorn to consign their cheese direct. Most of the sales to agents were made in the south. r J he “(Standard s informant considered that the present position was quite normal, and he did not anticipate any marked fall in cheese \ allies, nor a, reversion to butter production on the pad- of those factories which have dual plants for the manufacture of cheese and butter. Even if there had been heavy.rams in Northern Europe, following the drought, as stated in the cabled information, the rain Pas come too late to affect European supplies and the winter market, and therefore New Zealand cheese producers prospects for this season's output were suit good.