DAIRY PRODUCE.

Manawatu Standard, Volume LIV, Issue 296, 12 November 1934, Page 5

DAIRY PRODUCE.

BUTTER MARKET QUIETER. CHEESE PRICES STEADY. The London butter market showed a turthcr improvement last week, active trading in the early part of the week soomg- the price for finest New Zealand salted rise to 78s. The market eased slightly at the end of the week, closing quiet at 76s to 775. All other butters, with tho exception of Danish, also firmed in price. Deliveries of New Zealand butter last totalled 2740 tons, compared with 2470 tons for tho previous week and 2726 tons a year ago. Tho quantity of New Zealand butter in store is 6186 tons compared with 6898 tons for the previous week and 4200 tons a year ago. Iho cheese market was again firm in the early part of last week, but closed quieter. Deliveries of New Zealand cheese last week totalled 17,549 crates, while the quantity in store was 88,787 crates. The Dahy Board's London office reports Friday’s official closing quotations as follow, those for the previous week being shown in parentheses:—

BUTTER. New. Zealand.—Salted, 76s to 775, cx 78s (71s to 735; November 9, 1933, 84s to 88s) (76s to 77s equals approximately 8.77 d f.0.b.). Unsaltcd, 76s to 80s (76s to 78s; November 9, 1933, 108 s to 112 s 6d). Deliveries, New Zealand, 2740 tons. In store, 6186 tons, including 64 tons ex Port Hobart. Australian.—Salted, 75s to 765, ex 77s (71s to 735) ; unsaltcd, 76s to 77s (72s to 735). Deliveries, Australian, 1310 tons. In store 2633 tons. Danish. —103 s f.0.b., 124 s spot (103 s, 1245). Dutch.—Salted, 80s to 90s (76s to 82s). Estonian: Unsaltcd, 78s to 80s. Latvian: Salted and unsaltcd, 70s to 74s (68s to 70s). Siberian: Salted, 73s to 74s (G6s to 675). Polish: Salted, 68s to 70s. Ukrainian: Salted, ?2s (65s to 665). The board has also received the following advice from its agents in Canada:— Butter: New York, 29 cents; Montreal, 19i cents. CHEESE. New Zealand.—White, 54s to 54s 6d (5.93 d f.0.b.) (-53 s6d to 545; November 9, 1933, 525) ; coloured, 53s to 54s (5.87 d f.0.b.) (53s 6cl to 545; November 9, 1933, 525). Deliveries, Now Zealand, 17,549 orates. In store, 88,787 crates. Canadian.—White 54s to 555, old season’s 68s to 70s; coloured, 54s to 565, old season’s 625; c.i.f., white, 535. Deliveries, Canadian, 13,349 boxes. In store, 128,207 boxes. English finest farmers.—B2s to 88s. AGENTS’ REPORTS. W. Woddel and Co., Ltd., report, dated London, November 9: —Doth markets quieter. Butter: Danish, 1245. Now Zealand finest, 75s to 775. Kangaroo, finest, 74s to 765. Cheese: New Zealand, white, 53s 6d to 54s 6d; New Zealand, coloured, 53s to 53s 6d. . The New Zealand Producers’ Co-opera-tive Marketing Association’s weekly cabled market report from London dated November 9 is as follows:—Butter: Market quiet. New Zealand, finest grade, 76s to 775; first grade, 74s to 755. Danish, 1245. Choose: Market quiet. Now Zealand, white, 53s 6d to 545; coloured, 53s to 53s 6d.

Mr A. C. Rowson reports, dated London, November 9:—Cheese: New Zealand, white, 54s per cwt; New Zealand coloured, 53s per cwt. Butter: New Zealand first grade, 745; finest grade, 765. Demand tailing on; tendency easier.

LONDON WOOL SALES.

BETTER PROSPECTS.

Better prospects for _ the next series of Lonon wool sales, which open to-morrow week, November 20, are indicated in cable messages received at the week-end. lhe Bank of New Zealand (produce department) has been advised by its London office, under date November 9, that it is generally expected that, at the next series of sales, commencing on November 20, prices for Merinos will advance Id per lb, fine crossbred id per lb, and medium crossbred |d per lb. Dalgety and Coy., Ltd., report that the market is and an improvement of about 10 per cent, all round as compared with the closing rates of tho September series is expected. These messages indicate that prices will recover to about last July closing rates in London. The September wool auctions in London closed at the highest point of the series. According to the cabled report received at the time by Dalgety arid Co., Ltd., September closing rates, compared with those of the July series, were as follow: —Scoured Merino, average to good, l 2 d to 2d lower. Greasy halfbred. Id to ljd lower. Greasy line ’crossbred, 3-4 dto IRI lower. Greasy medium and coarse crossbred, par to rather higher. Scoured fine crossbred, 3-4 dto Id lower. Other descriptions scoured crossbred, unchanged. Fine slipes, Id to lid lower. Other descriptions slipes, unchanged. The following range of prices for the close of tho September series was quoted:

Halfbred, 56/58 — d. d. Good to super 10i to 12j Low to medium 8 to 10 Halfbred, 50/56 — Good to super 8J to 10^ Low to medium 7 to 8 2 Fine crossbred, 48/50Good to super 7£ to 8 Low to medium 53 to 7 Fine crossbred, 46/48 — Good to super 6| to 7£ Low to medium 5 2 to Crossbred, 44/46 — Good to super 6£ to 6| Low to medium 5i to Crossbred, 40/44 — Good to super 6 to 6 2 Low to medium 5 to 5j Coarsc crossbred, 36/40 Good to super 53 to 6£ Low to medium 43 to 5 2 -

11. Dawson, Sons and Co., Ltd., reported that the unexpected advent of a strong Continental demand during the second week of the September sales initiated a new development which was keenly supported by the Home trade. Competition strengthened daily, and a sharp upward movement resulted. The surprising feature was that several German houses shared in this buying movement, despite the difficulty which still obtains in Germany to get the necessary import licenses; the only explanation is tho fact that Germany’s need for wool is so apparent that it encourages speculative operators because of tho early possibility of the door being widely opened. In the last fortnight there has been a distinct improvement in prices at the Sydney and other Australian sales, with keen competition from Yorkshire and the Continent. The Bradford tops_ market also has shown considerable activity, and a finning in prices. Bradford manufacturers have withdrawn t-heir ban on the export of tops and yarns to Germany. Tho improvement forecasted for the London sales should be reflected in prices at tho opening sales in Now Zealand (says the Dominion). The first sale will take place at Auckland on November 25, Napier coming in on December 3, and Wellington on December 8. The allotments for these sales arc 25,000 bales each. With tho additional factors of Japanese buying and competition from local and Australian mills, opening prices in the Dominion this year will be much better than was thought possible a few weeks ago.

CHICAGO WHEAT FUTURES.

NEW YORK, Nov. 10. Chicago wheat futures are: —December, 100 g cents a. bushel; May, 09.); July, 93J. New York, cash, 107} cents. TALLOW STATISTICS. LONDON, Nov. 9. Tallow statistics at the end of October, compared with previous months, were : July. Aug. Sep. Oct. Casks Casks Casks Casks

.... 2364 3014 2475 1782 Imports .... 918 1546 1013 868 Deliveries . .. .... 563 896 1552 1561