PRODUCE MARKET

New Zealand Times, Volume XLIX, Issue 11173, 31 March 1922, Page 10

PRODUCE MARKET

LATEST LONDON QUOTATIONS. GOVERNMENT BUTTER STOCKS CLEARED. Messrs Dalgety and Company, Ltd., have received the following report on the dairy produce market, dated London, January 31st, from' their London house: — BUTTER TRADE. The activity in tho butter trade ot the past few weeks has spent its force, and there is now a drooping market with but little business uoing. -the chief reasons for tnis change are:—(!) The very extensive buying during this month, with th© result that both wholesale houses and shopkeepers have considerable stocks and are therefore under no necessity to purchase further supplies at present; (2) the rise in the retail prices from Is 2d to Is 4d and Is 6d has had the effect of seriously lessening the consumptive demand —at the lower range of prices the public were taking butter very freely; (3) the recovery in margarine. The sale of this article was very adversely affected by the low prico to which pure butter fell* but with the 2d per lb rise in butter, margarine regained much of the leeway, the sale being also increased by a reduction in the retail price of margarine. —the “Maypo Dairy" is now selling at 6d per lb; (4) the large quantities of Australian and New Zealand near at hand, the total shipments afloat on the 25th inst. amounting to 554,962 boxes. . ■ To-day finest New Zealand is quoted 138 s to 140 s, but holders would be very willing to accept 2s to 4s under these figures if bids were forthcoming. Similarly, finest Australian is quoted at 128 s to 130 s; here again 2® to 4s less would be gladly accepted. Good to fine Australian ranges from 108 s to 3205, inferior 90s to 100 s. Unsalted demands about 4s per cwt premium over salted. Danish, for which. 194® f.o.b. was asked last week, is now offered at 184 s to 186 s landed terms. Total arrivals last week amounted to 17,840 casks (5716 for London), as against 24,906 casks (6810 for London the previous week).* \

CHEESE MARKET. The cheese market* is firm and values are 2s to 4s per cwt higher than last week, but at the same time there is no boom ruling, although speculators holding dearly bought stocks and with further arrivals to come are doing all possible* to create the impression that values will further considerably advance in the near future. \ Canadian, both coloured and white, is selling at 90s to 965, exceptionally 98s to 100 s. The 6tock at the Surrey Commercial Dock last Thursday showed a considerable diminution, being only 87,858 boxes, as against 109,107 the previous week, and 40,513 boxes at the corresponding period last year,* Owing to the scarcity of New Zealand on the spot, 90s to 94s has been mode for white and 92s to 96s and exceptionally 98s coloured. As, however, there are considerable arrivals landing and to land shortly, tHe total quantity afloat on the 25th inst % is estimated At 143,000 crates New Zealand, 17,935 crates Australian—prices are not expected to advance further. Values of Australian have risen with the improvement in Canadian and New Zealand, and 84® to 90s coloured, and 82b to 88s for white are the present quotations. Since the above was written Dalgety and Company received a letter from the Board of Trade Teading as follows:—"I. am directed by the Board-of Trade to inform you that all stocks of Government butter have now been cleared." TALLOW AND WOOL. Messrs Dalgety and Company, Limited,, report having received the following cablegram from their London house under date of 29th instant:— Tallow.—l93o casks of tallow offered, ■328 casks sold. Mutton tallow fair demand, sinco our last week's report 3d easier. Low and inferior descriptions is to la. 6d lower on the average. Better quality neglected." ! WOOL SALE. The following vessels arrived in time for the June wool sales in London : Port Victor, lonic, Maimoa, t Mahana. Port Darwin.