BRIGHT DAIRY OUTLOOK.

New Zealand Herald, Volume LX, Issue 18295, 11 January 1923, Page 8

BRIGHT DAIRY OUTLOOK.

NEW MARKETS EXPLOITED. AVOIDING GLUT IN LONDON. ) PRESENT STRONG POSITION. 1 Jbt telegraph.—own correspondent.} HAMILTON, Wednesday. The New Zealand Co-operative Dairy Company .received a cable from its London manager last evening quoting Anchor butter at 195s per cwt. salted, and 198s unsalted; Danish 204s f.o.b. Copenhagen. The cable further stated that the for- , ward position was good, but that the market had probably reached top price meantime. Regarding cheese, Anchor brand was quoted: Coloured and white at 134s The market is strong and may go higher. Stocks in London and to arrive up to the end of January show a shrinkage of 75 per cent, as compared with last year. High prices probably will therefore be maintained until the middle of February and will thereafter be good , until the end of' April, although probably lower. .■■'■. Anchor skim milk powder is quoted at 58s per cwt., whole milk is 150s per cwt., and casein £80 a ton. In . referring to the satisfactory state of the butler market, Mr. Gopdfellow said that the very substantial sales of New Zealand butter to America had the immediate effect of advancing f.o.b. values 2d per lb. During the past month the company had also shipped 10,000 boxes of butter direct to France for sale in Paris. Arrangements had recently been made for the company's Anchor brand to be regularly quoted on the French raid Belgian markets. Relief for London Market. In addition to the above, shipments had also been made to Eastern and Western Canada, Honolulu and China. It was 61 paramount importance that the London market should be relieved as much as possible during the peak of produe- ■ ' tion in the Southern Hemisphere. The development of the West of England, markets would help to the same extent, ; but this would necessarily be slow on : account of the firmly established prefer- '• ence for Danish butter in the Midlands. The company was, however, doing vaTu- ' able pioneering work in Liverpool and '• i Manchester, while arrangements had been made to market Anchor butter in lib. I cartons.. The recovery of the cheese market was J particularly gratifying in view of the i fact that cheese producers had received lower returns than butter producers dur- j ing the past two seasons, for it- was gen- ' erally recognised that the cheese sup- ; ' plier should receive at least 2d per lb. , more than the butter supplier for cart- ' ing his whole milk to factory and for . I the lower feeding value of whey as com- ; pared with skim milk. The recovery was . j due to the curtailment of cheese produc- ! tion in Canada and to the increased con- . . sumptive demand in England as a result , of improved trade conditions. Undoubtedly the company's cheese suppliers would ; do remarkably well during the current season. Sale of By-Products Better. Dealing with the by-products, Mr. ; Goodfellow said that the recovery of , casein and dried milk was exceedingly gratifying. For the past two years casein ; had not at all been a payable proposi- i tion. The skim milk powder situation ". was almost identical, and the latest cables ; from England and America indicated a i 1 shortage of supply; in fact. New York ; buyers had ' recently purchased 300 tons < of Anchor powder, which he knew had i been transhipped from London. '" The company's European manager in- < cheated that the New Zealand Co-opera- { ] rive Dairy Company would be the only • holders of a substantial quantity of skim ' milk powder hi Europe during the next- i six months. The first shipment of the - present season's make would arrive in j J London toward the end of this mouth, i j when it was anticipated the whole of the ' previous season's output would be dis- ? posed of, and it was believed the market ' would be in a very satisfactory posi- ' tion. ■'•'-■•'■'-■-. - In conclusion, Mr. Goodfellow stated » that the company's suppliers had every . reason to be gratified with the very satisfactory outlook for all dairy products at the present time. At a meeting of the directors of the New Zealand Co-operative Dairy Company held last night the advance payments to be made on January 20 were fixed at the same figures as last month, Butter, superfine, direct. Is 2|d; cheese, Is 4d. It was considered inad- ? visable to increase, the advance payments in view of the enormous quantity of, butter and cheese afloat and in stock, and in consequence unsold. . *' ■■■" ■ ■ s . " •'■ C