DAIRY EXPORT TRADE.
PRICES AT PRE-WAR LEVEL.
Press and private cable despatches from London as to the state of the butter and cheese markets make depressing reading. Prices are now almost at pre-war levels, and demand seems to become slacker every day. Messrs A. S. Paterson and Co*, Ltd., Wellington, have received the following cabled advice, dated October 2, from Messrs J. and J. Lonsdale and Co v Ltd., London:— Butter.—Market depressed owing no demand. Danish, 148 s; New Zealand, 120s-1245: - Australian, 118s-1225. Cheese: Market is dull and downward tendency. White, 725; coloured, 70s. Similar despatches have been received by Messrs Wright, Stephenson, Dalgety, A. J. Mills, and Joseph Nathan and Co. Advances made on consignments of butter and cheese have again been reduced. The course of advances for the current season has been as follows: —
Advances this time last year were: Butter, Is 5d per lb; cheese, 84d per lb. Stocks of butter are piling up, not only of last season’s make but or new arrivals of New Zealand. Weekly outgoings of New Zealand butter from stores in the United Kingdom have been well above those of last y*ear, and arrivals during September from the southern hemisphere were the smallest for the year. But
stored stocks have only* come down to 21,000 tons, as against 24,000 tons on September 1 Arrivals from northern sources have apparently been heavier than for the past two years. _ It now appears that buyers will continue right through the winter months to purchase only* actual requirements. Buyers still hold off. Offers were made this week of a parcel of finest grade October shipment at 12 Jd f.o.b. (equal to about 124 s landed for consignments), but London could not obtain a counter offer because Australia was offering at 116 s c.i.f.e., yet could not sell. Australia and __ Argentine show increased production. New Zealand shipments to the United Kingdom will be heavy, the chairman of the Dairy Board estimating the following:—October, 9400 tons; and three succeeding months each 11,250 tons, or a total of 43,150 tons. With regard to cheese, the British market is depressed by reason of the large stocks, and it is expected that instead of diminishing to any* appreciable extent they will have increased by the time the new season's New Zealand make arrives in January The chairman of the Dairy Board’s estimate of New Zealand cheese shipments is 8600 tons for November. 33,000 tons for December, January, and February, and 10,000 tons in March;— total, 51,600 tons; and New Zealand production is estimated to increase by 6000 tons. The present state of the market is revealed in the above cablegram but as a footnote to that information it may be stated that firm offers made to London of full-cream cheese September-November output, at 7d f.o.b. failed to attract buyers’ attention.
Butter. Cheese. AuRUSt 14 .. per cwt. s. d. per cwt. s. d. ..10 0 6J September 4 .. 0 11 0 6 October 2 .. .. 0 10 0 '5J
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Bibliographic details
Otago Witness, Issue 3996, 14 October 1930, Page 15
Word Count
496DAIRY EXPORT TRADE. Otago Witness, Issue 3996, 14 October 1930, Page 15
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