DAIRY PRODUCE

New Zealand Herald, Volume LXX, Issue 21540, 11 July 1933, Page 12

DAIRY PRODUCE

ARRIVALS IN BRITAIN LARGER VOLUME ESTIMATED IMPROVED CHEESE QUALITY Heavier arrivals of New Zealand butter and cheese in the Lnitcd Kingdom, compared with the two previous seasons, ore anticipated in estimates prepared by A. 11. Turnbull and Company, Limited, in their monthly report. Following are the estimates (in tons) compared with actual arrivals in 1932 and 1931: — NEW ZEALAND BUTTER mm 1932 1933 Tillv . . . . 7,805 .7.104 7,560 August . . 5.701 '2'200 n'onn September .. 4,010 7,<29 8,200 T'otnln . . 18,470. 10,0751 25,500 NEW ZEALAND CHEESE July .. .. G.B9S 7,412 7,103 August . . 3.020 4.19* 0,304 September . . 2,997 5,994 5,704 Totals . . 73.521 17,G01 19,290

"The British butter market has been in an unsettled state throughout June, says the report. "The trade has generally marked time, awaiting developments on the vital questions of quotas and currency under discussion in J'Ondou. Then came the lifting of the Russian embargo and the fear that accumulated supplies might be dumped upon the London market, which undoubtedly had its effect. At the same time, other Continental shipments were largely increased, causing a renewal of tho accumulation of stocks in the United Kingdom. At the end of Juno prices for New Zealand bad receded to 7/ s with a quiet and slow market, but hot, dry weather has since been expenenced, giving derided stimulus to dairy markets generally, and the latest cablegram received from W. Wedclel and Company, Limited, advises an advance of Is in both Now Zealand and Australian butters and.a firm market. They state that with a continuance of the present weather conditions, they fully expect a gradual improvement in prices. "Cheese eased in sympathy with the butter market, but toward the end of the month a decidedly better feeling prevailed, more especially in white I cheese, which has now regained its ' normal relative value to coloured. On July 1 the market stood at 47s Gd a cwt. for white and 49s Cd a ewt, for coloured, since when an advance of 2s Gd has been recorded with a firm market, which it if expected will now continue, partly owing to the excellent consumption, but stimulated also by the fact that the Canadian production is considerably below normal. The fact that London cablegrams feature the good sale for New Zealand cheese goes to show that our quality has largely been restored, and no complaints of blnck spot have so far reached us this season."

Joseph Nathan and Company, Limited, has received the following cablegram from its London principals. Trellis rouse and Nathan, Limited: —Butter: 795. Cheese: White, 49s to 50s; coloured, 525. Both markets are very quiet.

LONDON STOCK POSITION CONSUMPTION IMPROVES LONDON. July 8 Although tho stocks of butter in cold store in London at the end of .June exceeded 1,300,000 boxes, there are signs that the position may improve before very long. Consumption is still very large. According to one authority, it is far greater than at any previous time in the history of the trade, and at tho present low 'retail prices it ought to continue, on about the same scale. The quantities of butter afloat from Australia, New Zealand and Argentina now total 1767 tons less'than at the same time in 1932, and as Australian shipments have been materially reduced it is hoped that tho cold store stocks will show a similar reduction before long.