DAISY PRODUCE

Manawatu Standard, Volume L, Issue 254, 22 September 1930, Page 2

DAISY PRODUCE

MARKETS IN BRITAIN. “Tho trade depression over nearly the whole of the world has certainly beaten the ideas of importers and merchants, and it seems impossible to get any rise on butter or any other commodity. Buyers have the whip hand at the moment and are likely to have for some time to come, as the stocks are heavy. Taking into consideration the depressed condition of affairs, the consumption of butter is good, but we want a further increase in consumption of 500 tons per week to make the position comfortable.” This was the advice received in Palmerston North from a Bondon firm concerning the dairy produce market conditions. The report adds: ‘‘During July the arrivals here of Siberian, Esthonian, Latvian and other cask butters were 100,000 casks short of July, 1929. Had not Germany taken good quantities from these countries during July, there is no doubt that we should have prices about 2d per lb lower than they are to-day. The Danes forced prices up to 152 s f.0.b., resulting in the retailers putting their prices up to Is 7d, and it was found that this price could not be maintained. The Danes, therefore, dropped their price 10s, and the retailers came back to Is 6d. This may create an improved demand and a bigger outlet for butter. ‘‘The cheese market simply drags along and is in much the same position as butter, but the consumption of cheese is not so good as it might have been had the quality of New Zealand cheese been up to the standard.” Reporting. from London under date of August 9, another communication discusses the butter market as follows: ‘‘Continental makes have suffered a sharp reaction this week, and prices are about 10s lower since our report of a fortnight ago; values recently have been forced rather high, and support was not sustained. Australian and New Zealand have withstood the effect of falling Scandinavian quotations fairly well, having eased only a shilling or two. Similar conditions apply with Irish, the price of which is slightly lower. Only a dragging sale is experienced for Argentine, and the considerable quantities on offer tend to make the market easier. The setback in Continental should result m steadier conditions throughout the whole butter position, and probably values will show gradual improvement during the autumn. There is no doubt that present pricses are reasonable, and form a sound basis for application in the near future.” Other advices from London concerning tho butter market state: —“Arrivals to this country for the month of July are about 7000 tons less than in tho previous month and about 3000 tons less than in the corresponding month of last year. Denmark, Argentina, and especially New Zealand, all show good increases over last year, while Russia and other countries which include Esthonia, Latvia, Poland, Lithuania, show a big decrease. “One of the features of the market is the partial failure of the Siberian supply, for which no reason or explanation is given. However, the butter has not been missed, because we have had liberal supplies from the Colonies and elsewhere. Supplies of Siberian butter to Germany have also been very small indeed, and this lias caused an increased demand for Baltic butters by Germany which accounts for the shrinkage in the imports under the heading ‘Other Countries.’ “The market has fluctuated to the oxtent of 10s per cwt. on Danish, but the fluctuations on other kinds have not been very great. Cold stored stocks have declined on the month to the extent of about 4000 tons, and altogether the position is looking a little healthier, although there is an absence of anticipation or speculation on the part of buyers, and the market runs along quietly without any excitement at all. “Cheese supplies from New Zealand have been fairly heavy, and with Canada about the same as last year there has been sufficient for all requirements. New Zealand cheese is out of favour with many buyers, owing to irregularity of quality, and Canadian is therefore making a good premium.”