LONDON DAIRY PRICES.

New Zealand Herald, Volume LXVI, Issue 20306, 13 July 1929, Page 7

LONDON DAIRY PRICES.

BUTTER MARKET SLOW.

NEW ZEALAND 170s TO 172 a.

Australian and N.Z Press Association. LONDON, July XX,

The butter market is siow. Danish is quoted at 1725; choicest salted sad nnsalted New Zealand, 170s to 1725; Australian, 166s to 168s. The cheese market is quiet. New Zealand white is quoted at 90s; coloured, 925.

REPORTS FROM MERCHANTS.

IMPROVEMENT IN THE DEMAND. Amalgamated Dairies, Limited, yesterday received the following cablegram from their London office, dated July 11: Butter: Finest, 1725; rather more inquiry. Danish, 1675, f.o.b. Cheese: White, 90s; coloured, 925; slightly better demand.

Dalgety and Company, Limited, received the following cablegram from their London house, dated July 11:—Butter: New Zealand, finest, salted. 163s to 1725; Danish, 172s to 1745; Australian, finest, unsulted, 164s to 168s; salted, 162s to 1665; good average quality, 154s to 158s. The market is slow. Cheese: New Zealand, while, 89s to 90s; coloured, 925. Canadian, white. 89s to 90s; coloured, 90s io 91s. c.i.f., 88s to 89s. The market isquiet. Andrew Clement and Sons, Limited, received the following cablegram from their London office, dated July 11: —Butter: 169s to, 171s; market dull. Cheese: B9s to 925; market steadier. The Farmers' Co-operative Auctioneering Company, Limited, Hamilton, has received advice by cablegram from London quoting the following prices for Ne%v Zealand produce:—Butter: Demand slow at slightly lower prices. New Zealand, 170s to 17is. Cheese: Slightly better demand at easier prices. White, 89s; coloured. 91s to 925.

Leonard and Son, Limited, received the following cablegram from their London principal. Mr. A. C. Eowson, dated July 11: —Butter, 170s; market easier.

REVIEW OF THE MARKET. DOMINION GRADINGS IN JUNE. In a review of the London dairy produce market covering the five weeks ended July 5 A. H. Turnbull and Compiny sf.ate that the market remained steady throughout. A slight check occur : J red after the first week, caused by the increased Continental production at the peak of their ■season, which more than countered the seasonal decline in shipments from New Zealand, Australia and the Argentine. In the meantime there had been some accumulation of stocks in London, but not sufficient to affect the market, and the company's principals, W. Weddel and Company, Limited, looked for a steady market approximately at present values. Usually at this period of the year inquiries were made for forward offers, cither for the United Kingdom or, in recent years, for Canada, but although Canada pnrchased a limited quantity early in June at round about Is sd, f.0.b., buyers later reduced their limits to Is 45c), at which figtsre no business had so far been reported. The market for cheese had been particularly steady during the five weeks. The warmer weather experienced through the United Kingdom had the effect of increasing consumption, -while the mp;l> prices asked for Canadian cheese favoured the selling of New Zealand cheddar. On the other hand, increased shipments caused the further accumulation of stocks, resulting iD a lack of the speculative demand usually experienced at this period. In consequence, the demand had not been sufficient to absorb the heavier offerings made of released stocks, and the market had weakened slightly to the extent of Is per cwt. Recent Canadian cables quoted new season's cheese at 86s to 90s, ci.f., which was. a decline of 6s on former prices. From these factors, no material improvement could be looked for in the near future. The following table shows the New Zealand gradings and stocks, given in tons, for the month of June, and the {Tradings during 11 months to June 30, together with a comparison with the amounts for the corresponding periods of the previous year:— BUTTER. 1925. 1929. Graded during- June .. 1,450 1,243 Graded dnrinpr 11 months . . 73,600 80.850 In store at June 30 . . .. 3,200 3,812 CHEESE. 1928. 1929. Graded during Juno .. .. 1,900 2.072 Graded during 11 months . . 75,500 PG.050 In store at June 30 . . .. 2.300 4.370 STOCK SALES. MATAMATA AND TTRAU. The Farmers' Co-operative Auctioneering Company, Limited, report:—We held our usual Matamnla stock sale on Wednesday, when an average yarding of cattle came forward Sheep and pigß were penned in medium numbers. Prices throughout were on a pur with late rates. Quotations:— Cuttle: Fat cows, £lO to £11; medium fat cows, £7 12s 6d to £6 17a 6d; light, £6 10s to £7 ss; forward cows. £5 7b 6d to £6 2s 6d; store oows, £3 to £4 17s 6d; cows with calves, £6 7s to £9: heifer calves, £3 16s. Sheep: Full-mouthed and aged ewes, in lamb. IBs to £1 4s 3d. Pigs: Heavy porkers, £2 15s to £3 Ss Id: medium, £2 4s to £2 10e: light, 33s 6d: good stores. 27s to 29s Id; slips, 15s to 20s; weaners, 7s 6d to lis. Dairy cattle: Jersey and Jersey ctobe heifers, £9 to £lO 10s; others, £7 to £9; backward cows £6 to £7 10s.

The Fanners' report havine neld their usual Tirau stock sale on Thursday. Th 6 average yarding of cattle which came forward sold at late rates. Quotations: — Fresh-conditioned store cows, £4 14s to £6 2s: lighter store cows, £3 19s to £4 10s: Jersey heifer calves. £6: dairy cows, backward, £7 10b to £8 las; dairy heifers. Shorthorn, £lO to £ll 10s : Jersey. £lO Ss to £l2; Jersey cross. £9 to £ll ISs. Weaner pigs, 10b to 13s. MATAMATA DAIRY HERD. The Farmers' Co-operative Auctioneering Company Limited, report having held a clearing sale of Mr. J. Were, junior's, dairy herd at Matnmata yesterday, before an average attendance of buyers. The cows were all Jersey and Jersey cross and good Quality and close to profit, but biddin" failed to reach expectations, and a good number were passed in Quotations: Jersey and Jersey cross cows, well forward, in calf and due July and August. £l3 to £l6; Jersey and Jersey cross cows, later calvers, £lO to £l2: two-year in-calf Jersey heifers. £l3. The pedigree" Jersey bull Imperial Master was sold at 50cns to Mr J. Headon. Waharoa.

PRICES AT FEUDING

[BY telegiuth— peess association.]

FOLDING. Friday

There were larpe yardinGß of all classe.of slock for the Feildinc sale and 1400 fat Bheep were offered. Woolly lambs made 24b 9d to 30s; black-face lambs. 20s to 28s: fat ewes. 21s to 23b : fat wethers. 32s to 3Gs 6d: two-tooth Romney ewes, in lamb to Roninoy rams. 45s f>d: two-tooth to fouryear ewes, running with Southdown rams, 26b 7d; stud Romney ewes, in lamb. 41s four and five-year ewes, 23s to 84b 4d: tw . and four-tooth ewes, 30s Id to 325: emptv mijed-nge ewes 18s 9d to 19s 5d blaok-face hocsets. 25s 7d: wethers. 19b 5d to 25s 7d. There was a good demand for dairy cows but heifers were hard to quit Springinc cows made up to £l3 10s; a choice small line of heifers in calf made £l3 10s to £l4 Fat cowe made up to £8; fat heifers, to £l2 15s- bullocks to £ll 109: store empty heifers, £ 2 10s to £-4 19s: cows. £8 12s 6d to £4 2s 6<L BLENHEIM OIL BORE. [BY TELEGRAPH. —OWN OOBEESPOKDBST.] NEW PLYMOUTH. Friday. The Blenheim Oil Well Reclamation Company has issued the following report, dated July 11:—" Drilling commenced on Jun6 27, but was considerably hampered by bad weather. Plant has now been roofed, which will mean better progress in fntare.'*-