GOOD BUTTER OUTLOOK

Nelson Evening Mail, Volume LVI, 21 November 1923, Page 3

GOOD BUTTER OUTLOOK

IMPROVEMENT IN PROSPECT

FAVOURABLE FACTORS

AUSTRA f.I AN SHORT AG E

Various matters of interest to the dairy industry were dealt with'by Mr A. J. Sinclair, acting-manager of the New Zealand Co-op. Dairy Co., Ltd., in an address to a meeting of suppliers’ committees at Te Awamutu, says the New Zealand Herald correspondent. Mr Sinclair said that the company had paid out. all that was promised in the balance-sheet, but there was still a further small payment to come on account of the good realisation of/ butter taken into stock. Another small payment in regard to cheese might be available toward the end of this month.-

.Reviewing the operations of the present season, Mr Sinclair' stated that the winter had been a had one, but while production in other parts of New Zealand showed a drop of about 8 per cent., as compared with last year, production laid kept about level in the company’s area. The quantity of butter manufactured up to the end of September was 3371 tons, and the quantity of cheese was 429 tons. The latest reports concerning the butter and cheese markets in the United Kingdom were very hopeful, sir id Mr Sinclair. The position during August and September had been strengthened by two factors. Firstly, the United States had taken practically the whole of the Canadian butter surplus, as only 23,000 boxes had been imported from Canada up to September 15 last, as compared with 241,000 boxes for the same period last year. Another factor was the holding of the Imperial exhibition, which would tend to increase the consumption. The Australian production, said Mr Sinclair, had-also, fallen this season by about 33 per cent., and unless there was a considerable improvement in this respect Australia would have to import butter by the end of January. Owing to the Canadian butter being off the London market, and the lateness of til* Australian season, Mr Wright predicted a good month in January, which was exceedingly important to the producers of this country.

Mr Sinclair' mentioned that, contrary to expectations, Siberia, Latvia and other countries, which had been off the market since *>1914. were making a determined effort to secure a footing, having sent to the United Kingdom for the first eight months of the year 373,553 cwt., a» against 30,678 cwt. for the same period last year. The cheese position, said Mr Sinclair, was quite firm. Mr Wright reported that the recent attempt of the Canadian speculators to “bear” the market had been overdone, and lie anticipated that, cheese would return to a good figure by the end of this month. The market for casein, although fairly quiet, had shown a good return. Unfortunately difficulties in connection with Continental exchanges made it impossible for Gerany and other countries to purchase from England. The company was selling a fair quantity at £75 a ton, which would give a very satisfactory return to suppliers.