BRIGHTER OUTLOOK.

Manawatu Standard, Volume LV, Issue 230, 27 August 1935, Page 5

BRIGHTER OUTLOOK.

BUTTER AND CHEESE MARKETS. Tho prospects for the coming season look considerably brighter than for some time, remark Joseph Nathan and Co., Lid., in a review of the butter and cheese markets. “It is difficult, however, to forecast what the coming season will bring forth. A substantial rise in the price of primary products is well overdue, but the chief disability in this roepcet would appear to be the continual changes of the political aspect in Europe. There is no doubt that the uphreavals which have occurred from time to time in various parts of idle world have had a depressing effect oil trade ill primary products. “However, with the stocks of both butter and cheese being considerably lower than at this time last year, the prospects would appear to be for a continuance of the upward tendency which bad been apparent in both markets during the last few weeks.”

In a survey of the butter market, Messrs Nathan and Co. state that “it must be admitted that the lot of the primary producer lias been a very trying one. While it is generally believed that the world is slowly recovering ifrom tho depths of the recent depression such recovery lias not to any gieat extent been reflected in the returns for our primary produce.

“At the commencement of last season prices were in the seventies, but up to the middle of October they bad slipped back into the sixties, and recovery from that low point was very slow indeed. In tho meantime, a great deal of tho season’s output had been disposed of. . . . “With tho cessation of America's support the market receded from the nineties in February hack to tho seventies, hut a more healthy tone has made its appearance, and since April, when quoted at 76s per ewt, it is now 94s to 955, which is over 20s per ewt higher than at this time last year. The present high prices, however, will have little effect on the old season’s returns, as tho bulk of that sea-on’s production has already been sold, and tho quantities available for sale at these prices arc very small as is natural at this period of tho year. Nevertheless, a continuance of present prices for a few mouths would do much to lift the average returns for the present season well above that of the preceding one.

“As last season’s returns ure not yet. complete, the actual average is not ascertainable, but estimating the unsold produce at present market rates an average of 80s per ewt. for the season would appear to he somewhere near the mark. This is practically the same return as the 1933-34 season, hut on account of the lower quantity produced the actual return to the producer will he less than last season.

“During the season much discussion of the restriction on f.o.b. selling was manifest, and all sorts of arguments for and against gained prominence. It is interesting to note, however, that for the season the amount of butter sold f.o.b. was 18 per cent, and cheese 18 per cent, also, against 15 per cent, and 7 per cent, respectively for the preceding season. “Producers of cheese' last season fared even worse than those of butter. Prices generally were remarkably steady throughout the grcatei portion of the season, but unfortunately at low levels. It is only during the last week that any interest has boon taken in the cheese market, and prices are showing a welcome advance with an upward tendency. During the season much cheese was held for higher prices, and it was reported at one time that over 90.000 crates were so held. In view of this holding shipments from New Zealand were retarded and no doubt this action is now having nil effect on prices. “The chief bugbear of the market, however, would appear to be the large quantities of cheap English choose which have been flooding the market for many months. Times are hard and with cheap English cheese selling retail at 2jd and 3d per lb against 6d for New Zealand, the effect on prices can well be imagined. “Owing to there still being a fair amount of cheese to be shipped and sold it is. difficult to estimate the soson’s average. It is expected, however, not to be more than 45s to 46s per ewt., which would be about 3e to 4s per ewt. below that of last season. This expected lower return, coupled with the decrease of some 11.000 tons for tlie season, places the cheese suppliers in an even worse position than butter.”

LONDON MARKETS.

TALLOW AND HEMP QUIET. The Department of Agriculture has received the following cablegram, dated August 24, from tho High Commissioner for New Zealand, London: —• Tallow. —Quiet demand at auction; 239 casks offered, of which 182 were sold. Present spot quotations are:—Mutton: Fine, 33s 6d : fair to good, 27s 6d to 31s: dark to dull 24s to 255. Beef: Sweet and/or mixed, 28s to 30s: fair to good. 25s 6d to 27s 6(1; dark to dull, 23s 6d to 255. Mixed : Tail* to good. 25s 6d to 27s 6d: dark to dull, 24s to 255. Gut, etc., 23s to 255.’ Hemp.—Manila market quiet and unchanged. Sisal market steady. Septcm-ber-November shipment quoted buyers at £lB. Now Zealand : Nothing to report. Apples.—Practically cleared. Current prices are: Dougherty, 12s to 16s; Stunner, 10s to 14s.

CLEARING SALE OF DAIRY COWS. On account of Mr R. H. Floyd, of Taihnpe. Abraham and Williams, Ltd., report bolding a most successful sale. The cows came forward in good condition, being a lino of straight Jerseys and being comprised principally of September culvers. Some of the realisations were as under:— Cows close to profit, £3 10fi, £3 15s, £4, £4 10s £4 15s, £5: later calving soils, £3, £3 5s ’.£3 7s 6d, £3 15s, £3 17s 6d, £4 to £4 10s- others, £2 ss, £2 10s, £2 12s 6d, £2 15s to £3; spg. Jersey heifers, September calvers, lines of 5, £2 2s 6d, £2 10s, £3 to £3 ss.’An outside entry on account of Mrs M. M. Cooper, of ten pedigree cows, realised the following values: 2ifgns, 3gns, 4gns, signs, 6gns to lOgns.