OUTLOOK FOR BUTTER.

New Zealand Herald, Volume LXVIII, Issue 21043, 30 November 1931, Page 5

OUTLOOK FOR BUTTER.

THE POSITION IN BRITAIN* RECENT DECLINE IN VALUES. HOPE IN CHRISTMAS DEMAND. [FROM OtTB OWN CORRESPONDENT. ] HAMILTON*,. Sunday, . , Conditions in England in relation t6 the New Zealand butter market are reviewed by Amalgamated Dairies, Limited, in a statement issued to the suppliers of the New Zealand Co-operative Dairy Company, Limited. Batter values have steadily declined in London since October 1, principally owing to the weakness of Danish, and thesubstantial increase in shipments from Australia, states the report. Latest reports from London indicate that rather more business is being done and it is probable that stocking up for the Christmas demand is commencing. A feature of London quotations for New Zealand butter has been the margin between the finest and first grade, amounting to about 5s per cwt., instead of the customary 2s per cwt., when supplies of finest are plentiful. -• _ Prospects of TariS. The new British Government, which was elected largely on a tariff policy, has not yet made any announcement regarding duties, but it is understood that foreign dairy produce will be substantially taxed. It would be unsafe, however, to predict a substantial falling off in imports of foreign butter, continues the statement. The principal effect will probably be lower returns to the foreign producer to the exteut of the dut/. On the other hand, a wider demand for Empire products may reasonably be expected. Amalgamated Dairies, Limited, and Empire Dairies, Limited, are assisting to extend this feeling by vigorously working the Midlands, the Northern industrial areas and Scotland. Statistics for the ten months ended October 31 show an increase of importations into the United Kingdom of 50,000 tons over the corresponding period of last year, the respective figures being 334,532 tons and 285,326 tons. During the full year "in 1914 the total imports amounted to 213,434" tons. These figures provide impressive evidence of Great Britain's wonderful buying capacity. In spite of the heavy importations of butter from all quarters, the 'estimated landed stocks of New Zealand butter in London and provincial stores on November 1 were reasonably low, and, -in fact, 2000 tons below stocks on November 1, 1930. Stocks of New Zealand afloat and in New Zealand on November 1 totalled just on 20,000 tons or 3500 tons more than last, year. . Cheese Market Holds Up Well. F.o.b. business lately -has been largely confined to parcels about to be shipped, as buyers are not prepared to risk operating too far ahead in view of the possibility of a fall in the rate of exchange. Dry conditions on the north coast ofNew South Wales have been relieved with; good rains. Queensland also has had good falls, but rain is wanted in many parts of Victoria. Exports from the Commonwealth from August 1 to October '3l amounted to 16,965 tons, compared with 11,115 tons for the corresponding period of last year. The Montreal market has made.,a slight advance during the past month, but would be quite unpayable to New Zealand even if the duty was 5 cents (the rate under the Austraiuiri-Canadian agreement), instead of the present >rate of -8 cents. Stocks of butter in the United States of America are very low and sales may "bis made to New York buyers later in. the year. The London cheese market has held up well, but the volume of business has not been up to last year's deliveries, continues the statement. Canadian stocks are much lighter this year and they will probably be firmly held. The total quantity of cheese in sight should be readily absorbed, particularly if the improvement in industrial conditions in England is maintained. -

PRODUCE FOR EXPORT. SHIPPING ALLOCATED. LARGE AUCKLAND QUOTA. Shipping space for 732,000 boxes of butter and 263,900 crates of cheese has been allotted by the Dairy Produce Board on steamers leaving New Zealand for. the United Kingdom between December 5 and January 23. Of those amounts, the Auckland province will export 468,488 boxes of butter, or about 64 per cent, of the total Dominion allocation, and 45,461 crates of cheese, or approximately 17 per cent, of the total allocation. In the following table the allocations for butter (boxes) are mentioned first and those for cheese (crates) second:—■ Dae. From N.Z. # Steamer. Sails. U.K. Auck. Ttls. Port Fairy .. Dec. 5 Jan. 11 53,715 80,000 8,079 22,800 Tonic .. Dec. 12 Jan. 20 60,223 SI.OOO 5,312 18.700 N'thum'land . Dec. 19 Jan. 24 51.150 SO,OOO 7,500 35.000 Port Huon - Dec. 21 Jan. 2S Port Dunedin . Dec. 24 Feb. 2 Hangitata .. Dec. 31 Feb 2.53,500 55,000 Raranga . . Dec. 31 Feb. 7 41,000 50.C00 4,300 14,500 Cumberland . Jan. 5 Feb. 12 Tairoa . . Jan. 7 Feb. 13 42,500 60,000 4,050 19.800 Mataroa . . Jan. 13 Feb. 16 43,000 60.000 7,300 1.6,400 Rotorua .. Jan. 13 Feb. IS 44,000 50.000 3,500 17,800 Pakeha .. Jan. 16 Feb. 23 31.0C0 .52.00T Hertford .. Jan. 21 Feb. 27 43,400 59.000 5,3i0 2/S6OO Matakana . . Jan. 23 March 2 Io.UUO Io.UUO The Port Fairy, lonic and Mataroa will sail from Auckland: the Port Huon, Rangitata, Rotorua, Pakeha, Hertford; and Matakana from Wellington; the' Port Dunedin, Raranga and Cumberland from Lyttelton; the Northumberland from Napier; and the Tairoa from Port Chalmers. The shipments bv the Northumberland, Tairoa and Hertford are partly. Jor .West Coast ports.

STOCK SALES. MORRINSVILLE QUOTATIONS. The Farmers' Co-operative Auctioneering Company. Limited, reports having held; its- - usual .fortnightly sale at Morrinsville en. Friday. There was a large yarding of all classes of stock, including a," special entry of store steers. The advertised line of steers attracted a large attendance-and met with steady the yarding changing hands at satisfactory figures. There was a full yarding of fat and store_ pigs. There was a further dt<jp of 4s to 5s m the values of bacon pigs and 2s to 3s for porkers. Quotations:—Cattle: Fat bullocks-, • :£8 3s to £8 7s; lighter, to £7 ss; fat cows, £5 4s to £5 14s; medium fat cows. £3 l<s; lighter, £3 to £3 15s; boners, to 255; four- ■ year Polled Angus steers, in fresh condition, £5 Is; four-year Shorthorn steers., £1 to £4 17s: 3}-year Shorthorn -steers. £3 10s; four-year Hereford and HerefordShorthorn cross steers, £4 to £4 _ 8s; four- . year Friesian steers, £3 15s; _ Friesian steers. £2 7s 6d; 18-nionths Polled ._ Angus steers. £2 8s; two-year Polled An pus , empty heifers, £2 13s: two-jear 15a tempty heifers, £2 12s; dairy heifer ' g^ eep . 1 to £7; dairy cows. iLiOs''"fid : fat hog- ..; Prime fat ewes, 8s 6d to 10s * - 3 d gets, 12s 2d; prime fat wether^ ewes and lambs, 6s ad T °, lighter. 19* Heavy choppers. 30s to 345. lunt fo 275; heavy bacoriers. 3 295; light, "c 28s to 30s; heavy P« ke £» 2 s£ slips, 12s 6#:; 22s to 2Ss; stores, 18s to lfiß . smaller,- v to 17s; good weaners, lis .. 8s to 10a 6d. . 5;