DAIRY PRODUCE MARKET.

Otago Daily Times, Issue 19905, 27 September 1926, Page 10

DAIRY PRODUCE MARKET.

STOCKS STORED IN LONDON EFFECT ON FUTURE PRICES. • § (From Oub Own (Jobbeseondent.) AUCKLAND, September 26. With an estimated total ot I.UUO.tA/J boxes, or 26,066 tons ot New Zealand nutter, m store m England at the present time, the immediate ruture ot the dairy l’ rod^ e kot is pregnant with interest lor the Urst shtpmentl ot tlto now season s produce will reach the market within a tew weeks. The chmf point of interest will lie m a comparison of the prices obUl “^ h *%g£! t °jj and the new produce, and the effect ot the stored stocks on the At this time last year it was estimated there were about 20,000 tons ot butter m cold storage fn Great Britain, the total lent to 800,000 boxes, or 200,M0 boxt f le ® 9 than the amount now estimated to be m store. The consumptive capacity of Great Britain has been calculated at approximately 5000 tons of butter a woek. so that if the latest estimate is correct there are five weeks’ supply on hand, as gainst tour weeks’ supply at the corresponding period °^The t arrivals of New Zealand butter on the London market will be greater in the early part of this season than they were n the early months of the 1920 season. tenter and October of last year saw New Zealand in the throes of the ovcrscas seamen’s strike, and practically the whole of the export trade m dairy produce w as hem up. In August three steamers, the era the Matatua. and the Ruapehu got away with 16,845 boxes of butter between them. No dairy produce was in September, and it was not until October 7 that the Ruahma sailed with w5,M5 boxes. Within a fortnight Arawa and the Port Dunedin sailed with 47,072 box®*The August shipment* arrived in EnsUnd in late September and early October, but no more of the now season » make reached London until the middle of November. This year the August and Septamlw shipments arc expected to reach 210.800 boxes of butter and 48,800 crates of cheese. This produce should arrive in England by the second week Mi Noremter. Jf 01 ? August I to the middle of November is 16 weeks, and a comparison of the figures shows that in the corresponding period ot last year 199,561 boxes of butter reached the market from New Zealand, against 210,800 boxes expected. to arrive b T. the middle of November this year. The differonce amounts to 11.239 boxes, but it has to be remembered that this season * goods will have the advantage of more regular arrivals than those of last year. . . A comparison of the range of pnees m the early part of the present season, apd of last season, shows that the strike influence last year sent up P/ices for New Zealand butter from 196 s to 198 s up to 230* to 2345, in a period of B fven weeks from August 22 to October 10. In the same period the prices for J 3 mse from 214 s to 234 s to 2,36 s On August 21 of this year New Zealand and Danish priros were almost on a par at 172 s to l <os and 176 s respectively. New Zealand buffer then commenced to decline in value, the lowest, mark being reached on September 11 when the prices were 156 sto Xo2s. Last week (hero was a slight recovery to 162 sto 1645. Danish butter <n the period up to September 11 remained around 174 s to 176 s but last week the prices rose to 184 s to’lß6s. '