DAIRY PRODUCE TRADE.

New Zealand Herald, Volume LXV, Issue 20115, 28 November 1928, Page 9

DAIRY PRODUCE TRADE.

SATISFACTORY CONDITIONS.

GOOD OUTLOOK FOR BUTTER.

CHEESE PRICES MAINTAINED.

[BY TELEGRAPH. —OWN CORRESPONDENT.] HAMILTON, Tuesday.

A satisfactory report on market conditions for all classes of dairy produce is supplied by Mr. W. Goodfcllow, manag-ing-director of the New Zealand Co-oper-utivo Dairy Company, Limited,. in bis monthly statement to suppliers. Mr. Goodfcllow said there appeared to be every likelihoc cf of values romaining'firm until January, thereafter the value of New Zealand butter on tho London market would bo largely determined by the magnitude of Australian production.

In the meantime the new season's make was rapidly going into consumption upon arrival in England, and stocks of New Zealand butter were being kept at a low figure in anticipation of heavy arrivals. Heavy shipments were also being made to Vancouver and Eastern Canada, and tho Auckland cold stores would be cleared of butter up to date. London sales and stocks of New Zealand butter during tho past five weeks had totalled 4321 tons, or an average of 864 tons a week, the prices ranging from 178s to 184s. Tho cheeso market, said Mr. Goodfcllow, had held up well, and values remained steady. A few isolated f.o.b. inquiries had been submitted from London, returning f.o.b. to tho factory, but generally speaking f.o.b. inquiries had been conspicuous by their absenco this season, largely due, no doubt, to tho fact that factories were asking too high a price to warrant business. The milk powder market was in a satisfactory condition; with sales to date this season well ahead of the previous year. An effort was being made in Australia to impose an additional duty, but it was not anticipated that the applicants would be successful, Tho initial difficulties in establishing tho company's condensed milk business had been overcome and inquiries for substantial quantities of this product had been recently received from overseas, which would warrant the opinion that the company's Waitoa factory would bo kept working at high pressure during the next six months. The demand for casein continued to bo active, said Mr. Goodfcllow, and the market was slightly firmer. All stocks in hand had been disposed of, and substantial forward sales had been made, which would ensure a satisfactory return to the casein suppliers during the current season.