WORLD'S BUTTER TRADE.

New Zealand Herald, Volume LXV, Issue 19859, 1 February 1928, Page 9

WORLD'S BUTTER TRADE.

RECORD YIELD IN 1926. SOURCES OF THE SUPPLY. Over 930,000,0001b. of butter, the largest quantity on record, entered into world trade during 1926. Of this quantity nine-tenths was absorbed by Great Britain and Germany. These facts have been supplied in a report on the international trade in butter, prepared bv the foodstuffs division of the United States Department of Commerce. The quantity of butter entering world trade rose from an annual average of 700,000,0001b. during the five yeara preceding the world war, to the record figures of 1926, after dropping to less than 300,000,0001b. immediately after the war. The quantity of butter produced in Australia, and consequently exported, varies from year to year, depending to a very great extent upon weathsr conditions. Australia's record export year was that ended June 30, 1C25, when 145,281,0001b. were sent away. The following year exports declined to 97,891,0001b. About 90 per cent, of the Australian exports go to Great Britain, and the remainder is shipped mainly to countries in or bordering the Pacific Ocean. The change in sources of world butter exports has been slight. In the pre-war period the leading exporting countries were, in the order named, Denmark, Russia. Australia, the Netherlands, Sweden. France, New Zealand, and Finland, while in 1926 they were Denmark, New Zealand, the Netherlands. Australia, the Irish Free State, and Russia. In 1526 Denmark supplied about 30 per cent, of the world butter exports, 70 per cent, of its exports going to Great Britain, 24 per cent, to Germany, and 3 per cent, to Switzerland. Danish butter has a reputation for high quality, and commands highest prices on world markets. Exports from Denmark dropped to 81,000.0001b. in 1919, but since then have increased constantly, and in 192b amounted to over 292,000,0001b. BUTTER AND CHEESE PRICES. QUOTATIONS FROM LONDON. The New Zealand Dairy Produce Board has received the following market report from its London office, dated January 27, prices for the previous week being given in parentheses:— * Butter.—New Zealand: Salted, 152s to 156s per cwt. (151s to 1545); unsalted, 156s to 160s (156s to 160s). Steady demand during week. Buik of business done at 152s to 1545. Deliveries New Zealand last week, 2160 tons; in store, 2960 tons. Australian: Finest salted, 148s to 152s (148s to 1525); unsalted, 150s to 152s (150s to 1545). Argentine; Finest unsalted, 140s, 144s up to 146s (144s to 148s). Danish: 170s to 1725; spot (172s to 1745); 166s f.o.b. (1655). Dutch creamery: Unsalted, 188s to I9os (184s to 186s). Polish: 151s to 1525. Retail prices unchanged. Cheese.—New Zealand : White and coloured, 88s to 90s (90s to 91s). Canadian; Finest white, I.oos to 102s, up to 104s (100s to 104s); coloured, 98s to 100s (98s to 102s); fair demand. Australian; Fin- • est coloured, 88s to 89s (86s to 90s). English : Finest farmers', 126s to 128s (126s to 130s). Retail prices unchanged. The board has also received the follow, fng advice from its agents in Canada;— Butter: New York, 47£ cents (Is lljd); Montreal, 35 cents (Is sid); San Francisco's extras, 46 cenls (Is lid). Vancouver market; New Zealand finest, 37 cents (is 6id); firsts, 36j, cents (is 6jd) ; seconds, 35j- cents (is sfjd). A CANTERBURY ASSOCIATION. DIVIDEND OF b PER CENT. The Permanent Investment and Loan Association of Canterbury for the year 1 1927 shows a net profit of £7090, as compared with £6958 for 1926. After the payment of the usual 6 per cent, dividend and special bonus of Is per shire, «nd adding £IOOO to the reserve, there remains a balance of £798 to bo carried forward. The paid-up capital of the company is £100 ; Q0C. Their deposits and interest accrued on same amount to £41.064. The reserve fund stands at £12,000. SYDNEY WOOL SALES, MERINO. REALISES 34iD. (Received January 31, 10,15 p.m.) A. and N.Z. SYDNEY, Jan. 31. At the wool sales competition was very keeu for all grades of wool. The Ljval of values was from par to 5 per cent, above last week's rates for all kinds except super wool,, which was iirm and unchanged. Comebacks and crcissbreds were very firm at late full rates. Greasy I Merino sold to 34£ d.