DAIRY PRODUCE

Otago Daily Times, Issue 18751, 3 January 1923, Page 6

DAIRY PRODUCE

SCARCITY OF CHEESE. LATE BUTTER PRICE'S. (Fbom Odk Own Uohbespondent.) LONDON", November 24. Last week there were no fewer than seven steamers in dock—five from Australia an.i two from New Zealand—so that with larger stocks of butter in sight the market shows signs of weakening, and this is also accentuated by the easing off in the Danish quotation brought about by the diminished Continental demand for this description. For a fortnight there previously had been a steady demand at slightly higher prices for choicest quality. The Danish quotation has fallen from 212 s to 200 s per cwt, f.0.b., the snot value being in the neighbourhood of 212 a per cwt. Available spot stocks of New Zealand are not large, but, Messrs "W. "Weddel write, buyers are only buying sparingly at from 212 s to 214 a per cwt for salted and from 220 s to 222 s per cwt for unsaltcd, the latter description being very scarce. Australian supplies, more plentiful, have been making from 204 a to 208 s pier cwt for choicest salted, and 200 s to 202 s for second grade, but anything unsuitable for purposes continues very difficult to place. Apparently in anticipation of a demand from the Continent, a greater proportion of unsalted butter has been shipped, bnt although there have been inquiries, this demand has not yet actually materialised, the result being that supplies are fully equal to the demand, and the premium obtainable over salted is not more than 2s per cwt. Argentine arrivals are all unsalted,, and are slow of sale at prices ranging from 194 s to 202 s per cwt, according to quality. Only limited supplies are available from the Baltic provinces, and these have made from 170 s to 190 s per cwt, according to quality. French continues steady at 212 s to 218 s per cwt for Paris baskets and 210 s to 220 s per cwt for salted. Owing to the present high level of prices, Messrs W. Weddel report that trading in cheese is on a very small scale. Spot stocks of New Zealand are practically cleared, and quotations are more or less nominal at 128 s to 130 s per cwt for white, and 126 s to 128 s per cwt for coloured. Canadians are quoted at 126 s to 130 s per cwt for white, and 126 s to 128 s per cwt for coloured.