Dairy Produce

Manawatu Times, Volume 61, Issue 9, 11 January 1936, Page 5

Dairy Produce

LONDON MARKET.

IRREGULAR, BUT FIRM TONE.

LONDON, Jan. 9,

During the past week in London the butter market has displayed a tendency to irregularity following over-rapid rises. On the cheese marxet an easier tone has prevailed. Current quotations are as follow, those for the previous •week bcipg included iu parentheses:— DahishV'l26s (128 s). Choicest salted: New Zealand, 96s (995); Australian, 96s (98s). Unsalted: New Zealand, lo2s to 104 s (102 s to 104 s); Australian, 102 s (io2sj. Cheesfl.—New Zealand: Coloured, 60s (625) ; ■ white, 56s to 57s .(57s to 58s).' Australian: Coloured, nominal (53s to 555); white, nominal (50s to 525), little offering.

' COMPARISON TABLE. Butter, 'New Zealand choicest salted: — This week 967Last week .. .. .. .. 99/A month ago .. .. .. 88/A year ago 83/96/- equals 11.45 d lb. butter-fat payout. ■ Cheese, New Zealand coloured:— This week 607Last week .. .... .. 62/A month ago 54/-. A vear ago 48/6 60/-“equals 14.2 d lb. butter-fat payout.

COMMENT,

With the excellent stock position at Home, stocks being but 53 per cent, of those of a year ago, it is reasonable to expect that butter will further improve. The drop to 87s about two weeks ago was quite unjustified. A year ago butter was rising strongly from the low point of December 15 of 695; it rose to 89s and 92s by February 9. American purchases largely contributed to this strength. November shipments, from Australia and New Zealand, totalled but 24,600 tons, a drop of 3000 tons on those of a year ago. The butter market will probably hold at around 100 s. That gives a satisfactory return to producers without making butter too dear to the consumers. The cheese market is displaying great strength and steadiness, the return at 60s is 14id to producers a very fine and deserved reward. It is not so many months ago since cheese was under a cloud and factories were losing suppliers. Grave concern was being expressed at the possible effects of this change-over. Those who “stuck” to cheese may now congratulate themselves.