HIGHER DAIRY PRICES.

New Zealand Herald, Volume LXVIII, Issue 20988, 26 September 1931, Page 10

HIGHER DAIRY PRICES.

SHARP ADVANCE IN WEEK.

NEW ZEALAND UP TO 120s.

ALL MARKETS FIRMER.

FUTURE POSITION UNCERTAIN. The London market for New Zealand dairy produce is distinctly firmer as a direct result of the suspension of the gold standard in Great Britain. Merchants Home have been procuring protective stocks and the efforts to cover have resulted in prices for butter firming during the past week 6s to 7s a cwt, and those for cheese from 3s to 4s a cwt. A Press Association cablegram despatched from London on Thursday states that all the provision markets are firm, with an active demand. Danish butler is quoted at 1365; choicest salted New Zealand, 118s to 120s j Australian, 112s to 114s; unsalted, same rates. On the cheese market New Zealand white and coloured are quoted at 65s to 665; Australian, white, 625; coloured, 635. The outlook at present, however, is somewhat clouded. "Difficult as it was a week or two ago to predict price movement, to-day it is even more difficult," states A. S. Paterson and Company, Ltd., in its comment upon the position. The vital changes which looked like taking place in the United Kingdom, including, very probably, tariff reform,, wero so far-reaching that the only thing to do was to watch carefully the progress of events from day to day. Firm Local Offers. The departure from the gold standard had undoubtedly created a temporary abnormal situation. One vital aspect was the effect it might ultimately have on the existing exchange rales, which had had a direct and very material effect on the net return to the New Zealand producer. Commenting upon local business the firm stales there have beon some inquiries for prompt shipment on the basis of Is for finest, and some factories have disposed of a few hundred boxes at that price. For cheese there has been inqairy for factories to give firm offers at something over 6d, f.o.b. "Whether tho selling of either butter or cheese to-day at the values indicated was likely lo prove right or not was impossible to say, because the situation at Homo contained too many vital, uncertain elements for anyone to form any reliable opinion as to what' extent the economic situation, possible tariff reform and the pushing of Empire trade, might affect the prices of all primary products. Details of Quotations.

Merchants have received the following cablegrams from their London houses, dated September 24: A. S. Paterson and Company, Limited. —Owing to the alteration of the gold standard buyers are securing protective stocks. Business is quieter to-day at the advance. Denmark followed England today and created chaotic conditions for the moment; expect prices will stabilise round present values. Danish and Continental markets, nominal; New Zealand, 116s to 118s; Australian, 110s to 112s. Cheese, white, 64s to 655; coloured, 65s to 665; Canadian, 65s to 665, c.i.f. Dalgety and Company, Limited.—Butter: The market is firm; New Zealand, finest salted, 116s to 118s; Danish, 140s; Australian, finest unsalted, Ills to 112s; finest salted, Ills to 112s; general average quality, 104s to 108s. Cheese: The market is firm; New Zealand, white, 64s to 665; coloured, 64s to 665; Canadian, white, 64s to 665; coloured, 64s to 665; c.i.f., 65s to 675; Australian, white, 61s to 645; coloured, 61s to 645. There have been excited demands, owing to the state of politics, and quotations are more or less nominal. W. W. Bowker.—Butter: The market is firm; New Zealand, finest, 118s; firsts, 116s; unsalted, 116s to 118s; Danish, 1325; Australian, 110s to 112s. Cheese: The market is firm; New Zealand, white and coloured, 65:! to 665; Canadian, 65s to 665. Both markets are quiet at the advance but think prices will be maintained. NEW MARKET AVAILABLE. WEST OF ENGLAND SUPPLY. Advice that New Zealand butter could now be sent to the West Coast of England ports all the year round without clashing with thij Irish flush supply is being issued to dairy factories by A. S. Paterson and Company, Ltd. In past years it has been considered inadvisable to ship any quantity of New Zealand butter to the West Coast ports during the Northern Hemisphere's flush season because of Ireland shipping to the West of England. Tho company's London principals, J. and J. Lonsdale and Company, Ltd., now advise that the position has changed as a result of Irish producers adopting the policy of storing their surplus butter for their winter trade, instead of shipping everything away during the producing season and importing butter during the off season. DAIRY PRODUCE EXPORT. TWO MONTHS' SHIPMENTS. Shipping space for 800.000 boxes of butter and 171,110 crales of cheese has been allotted by the Dairy Produce Board to steamers leaving New' Zealand for the United Kingdom between September 30 and November 24. In the following table the allocations for butter (boxes) are mentioned first and those for cheese (crates) second:—

The Kemuera. Mahia, Somerset, Kent, Port Alma, Zealandic, Rangitiki and 1 amaroa w.ll sail from Auckland; the fongariro, Corinthic, Cornwall and Port Hunter from Wellington; and the Coptic from Napier. Jhe Tongariro's shipment is for tho West Coast of Britain and the shipments by tho Kent and Zealandic are partly for West Coast ports.

Sfo.mier. Duo From N.Z. Sn ils. U.K. .Akld. Tin. Remucra . . Sept. 30 Nov. 5 07.000 80,000 Mahia 273 1.500 Oct. 8 V, o < 30,000 60.000 S'omeiecc .. 5.000 12.300 Oct. 10 Nov. 1G 4:1,500 57,000 Tongariro . G.500 17.000 Oct. 14 Nov. 13 — 500 Kent .. Oct. 20 Nov. 20 39.700 57.000 7.500 10,340 Corinthic . Oct. 20 Nov. 28 22,000 30.500 — 4.270 Pt. Alma . . Oct. 31 Dec. 6 57,000 80.000 4,400 10.400 Zealandic . Nov. 3 Dec. 7 3S.000 58.000 fi.880 22.000 Cornwall . Nov. 5 Dec. 12 65,000 81.000 — 12.500 Bnnsilil:! . N ov. 7 Dec. 10 00,000 81,000 0,000 17.700 Taniaroa . . Nov. 11 Dec. 18 50,000 80,000 Pt. Hunter 0,500 9,000 Nov. 17 Dec. 21 40,000 80,000 Coptic Nov. 21 .— 20,500 Dec. 28 31,000 40.000 3,000 21.000