THE BUTTER MARKET.

New Zealand Herald, Volume LXVIII, Issue 20767, 9 January 1931, Page 7

THE BUTTER MARKET.

FORWARD SALES AT As.

BAY OF PLENTY DEAL.

AN ENCOURAGING PROSPECT.

BY TELEGRAPH. —OWN CORRESPONDENT. ] TE PUKE, Thursday.

The secretary of the Bay of Plenty 0 Dairy Association, advises that tho company has made a considerable forward ]\ sale of butter at Is per lb., f.0.b., net, 5 Auckland. At this figure 8000 cases were c disposed of. The advances to suppliers a were last made at 8d per lb. superfine, t thus the foregoing advice indicates an im- t provement in future prices and should t brighten tho suppliers' prospects. KAIPARA DAIRY COMPANY. c \ AN INCREASED OUTPUT. 1 A total of 294 tons of butter was rnanu- 1 faclured by. tho Kaipara Co-operative ( Dairy Factory Company, Limited, during December, compared with 277 ions in ' December, 1929. For tho season up to f the end of December tho company put t through. 1116 tons of butter, compared , with 1092 tons for tho corresponding period of 1929. The country from which tho factory draws its supplies is drying J up rapidly as a result, of the absence of 1 good rains. ( PRICES IN LONDON. BUTTER AND CHEESE VALUES. , Tho New Zealand Loan and Mercantile Agency Company, Limited, has received the following cablegram from its London house under date January 7: —Butter, choicest salted, 117s to 118s; the market 1 is quiet. Cheese, white, 595; coloured, ; 58s; the market is very quiet. ADVERTISING IN ENGLAND. INTEREST OF CONSUMERS. Mr. H. E. Davis, London manager of tho New Zealand Dairy Produce Board, recently delivered one of the Empire Marketing Board's broadcast talks from the London studio. He explained to his unseen listeners what tho Dominion was doing with regard to the production of butter and cheese. As it was a morning talk Mr. Davis' was rather anxious to got some idea of the magnitude of his audience, if any, aad whether his listeners bad shown an intelligent interest in what he had said. At the end of the talk he invited people to apply to tho office of the board for the pamphlet, " The Empire Dairy Farm." Since then several hundred letters have been received. Of these, 400 are applications for the pamphlet, without comment. Some hundreds, however, contain interesting remarks. The letters have been received from people as wide apart as Edinburgh and Plymouth. Many of the writers comment on the variation of prices and wonder if, when they ask for New Zealand butter, they actually get it. From the North of England come many letters from people who say that they would like to buy New Zealand butter, but the retailers in their locality do not stock it. Others, again, mention brands of butter they buy as New Zealand, but which aro definitely known to bo blended. BUTTER FOR HOSPITAL. DECREASE 'IN PRICE. The tender of the New Zealand Cooperative Dairy Co., Ltd., to supply the Waikato Hospital with butter for three months was accepted yesterday. The price quoted for finest was per lb. and for first grado llid per lb. Last quarter the price was Is ljd per lb. for finest. LOAN AND MERCANTILE.

EXPANSION TO AFRICA. At the annual meeting of the New Zealand Loan and Mercantile Agency Company, Limited, held in London, the chairman, Mr. Alfred Shepherd, said the company had extended its operations to South Africa, acquiring practically the whole of the sharo capital of tho Union Produce Mart of Durban. It was tho intention of tho company to develop a sound wool connection in that, country. The purchase would bo reflected in the 1931 accounts. ENGLISH BACON TRADE. CHANCE FOIt DOMINIONS. An outstanding opportunity in export trado is in tho market for pork and bacon, says the November issue of the Monthly Review of the Royal Bank of Canada. The demand for bacon in Great Britain has grown at an amazing rate. In 1921 imports of bacon into Great Britain amounted to 636,000.0001b. In each of the last three years the total imports into that market havo been more I than 900,000.0001b. Most of the additional supplies have come from Denmark. The United States and Canada have obtained little of the trade. Canadian shipments aro no greater than they wore 40 years ago. — -

TRADE OF JAPAN. A GENERAL DECLINE. Speaking at f lie half-yearly meeting of the Yokohama Specie Bank at Yokohama, tho president, Mr. Kcnji Kodama, reviewed trade conditions in Japan and tho trade relations of Japan with tho rest, of the world. As a result of his summary he showed that foreign trade during the first half of 1930 fell off in every direction, but the position on balance was better by 58,000.000 yen (£5.800,000) than for the corresponding period of 1929, tho excess of imports over exports being reduced by that amount to 224,000,000 yen (£22,400,000). Tho adverse balances of Chosen and Taiwan, amounting to 62,000,000 yen (£6.200,000), also showed a reduction of 9,000,000 yen (£900,000). As to foreign exchanges the rate on the United States, which was 49 dollars to 100 yen at the beginning of the year, went up to dollars on January 11, the date of the actual lifting of the gold embargo, and reached 493 dollars three days later. This rate was maintained throughout the period, but with a somewhat easy tone prevailing an efflux of gold, totalling 225,000,000 yen (£22,500,000) was recorded. The English rate was stabilised with the margin 2s Ogd to 2s to the yen. The Government for the purpose of converting the 4 per cent, sterling loan of 1905 successfully issued a new loan in the middle, of May at 5J> per cent., maturing in 35 years, £12.500,000 being placed on the London market and approximately 14,000,000 dollars on the New York market.