N.Z. DAIRY PRODUCE

Northern Advocate, 7 February 1934, Page 6

N.Z. DAIRY PRODUCE

MARKETS REVIEWED. SURVEY OVER SIX WEEKS. FORGING POLICY NOT JUSTIFIED. VALUE OF NEW MARKETS. i (Special to “Northern Advocate,") HAMILTON, This Day. In a survey of the London butter market covering the last six weeks Mr W. Good fellow, managing director of Amalgamated Dairies, Ltd., remarks on the consistency of quotations for New Zealand butter, the quick clearance of arrivals, the low stocks at the end of each Avcok, and the sharp decline in the quotations for the produce of Denmark. “It AA r ould appear that the loav stocks held avoußl justify a holding policy in order to ' push prices up,” states Mr GoodfelloAA', “but the heavy shipments afloat preclude such an idea being Avorkable. The quantities despatched from Australia and New | Zealand during December totalled | JyiOO tons. As the normal weekly consumption of imported butter in the United Kingdom is in the neighbourhood of 9000 tons, the shipments from Australia and New Zealand are snf--1 ficieut to meet nearly four Aveeks’ re- | quirements without providing for imj ports from other sources, such as Doni mark.

“The regulation of shipments from Australia is now operating, and in the course of the next few weeks we should see the advantage of this arrangement. It is appropriate to point out, however, that had this policy been adopted by the Commonwealth Dairy Board earlier in the season, when the heavy production first became apparent, ft is obvious prices would not have declined to their present low level. “A noticeable feature of the season’s marketing operations has been the increase of nearly 2500 tons in quantities shipped to Avonmouth (Bristol), Manchester, Liverpool and Glasgow, indicating that the drive to popularise Now Zealand butter in the manufacturing areas in the North of England has been successful. To the end of December nearly 20 per cent of the total quantity despatched to the United Kingdom; was consigned to the outports. It cannot be doubted that this valuable outlet would be opened to New Zealand butter more quickly if free .trade between the United Kingdom and Now Zealand wore an accomplished fact.

“The Canadian Government has notified its intention to impose a dumping duty , on any butter imported from New Zealand on the grounds that supplies of domestic butter are sufficient to meet requirements. Some Canadian operators think otherwise, as about 300 tons have been sold for .January shipment. Butter stocks in the United States at January 1 wore 40,000 tons heavier than on the same day of last year. Strenuous efforts are being made to reduce stocks, and ‘considerable quantities have been distributed for relief purposes.

“Production in New South Wales and Queensland is about at peak point. In Victoria supplies started to fall off, but good rains were experienced at the end of December, and an increase in output was recorded, but the peak point has since been reached.’ ’ Referring to cheese, Mr Goodfellow states that prices for white cheese held steady for several weeks, but declined by 5/ per .cwt during the middle of January. Coloured, which was at a discount of 4/ at the commencement of the period under review, was now at a slight premium. Stocks of Canadian and New Zealand cheese in sight were rather heavier than last year,, but the tendency was for a lighter output of New Zealand this autumn. Milk powder clearances continued satisfactory, and casein quotations were still firm, demand having overtaken supplies.

MARKETS QUIET. (Special to "Northern Advocate.”) AUCKLAND, This Day. Messrs Joseph Nathan and Co., Ltd.,have received a cable from their London house, dated February 5, which reads as follows:—Butter, New Zealand, 67/ to 68/. Cheese, New Zealand, white, 43/; coloured, 45/. Both markets are very quiet. The New Zealand Producers’ Co-op. Marketing Association, Ltd., has today received a cable from its London office, dated February 6, reading as follows: —Both markets steady. Butter: Now Zealand, 66/ to 68/; Danish, 86/ to 87/. Cheese: New Zealand white, 43/; coloured, 45/.