DAIRY PRODUCE.

Pahiatua Herald, Volume XLIII, Issue 13284, 16 June 1936, Page 7

DAIRY PRODUCE.

BUTTER STEADY AT 111/CHEESE QUIET. After rising sharply to 112 s a cwt for New' Zealand finest salter butter in the early part of last week the London market quietened, but is now reported steady at Ills. The New Zealand retail price is now Is and Is Id a Jb, with Danish at Is Id and Is 2d a 11>. Deliveries of New Zealand butter last week totalled 1652 tons, compared with 1438 tons for the previous week and 1157 tons a year ago. Australian deliveries were 1328 tons, against 1552 tons a year ago.

The Imperial Economic Committee’s estimated stocks of all butters in store is 714,097 boxes, compared with 993,133 boxes a year ago. New r Zealand stored butter amounts to 4800 tons,, including 443 tons ex the Mahana, compared with 4399 tons for the previous week and 6088 tons a year ago. Australian butter in store totals 4877 tons against 8385 tons a year ago. The cheese market, which also advanced sharply at the beginning of last week, is now quiet, with New Zealand white and coloured at 61s. Deliveries of New Zealand cheese last week totalled 18,935 crates, against 15,131 crates a year ago, while the quantity in store is 97,307 crates, compared with 165,160 crates a year ago. Canadian deliveries were 8527 boxes, against 5110 boxes a year ago, the quantity now in store being 45,401 boxes compared with 47,255 boxes a year ago THE FORWARD POSITION.

Til response to an inquiry as to possible market prices for July and August, the Dairy Board’s London office has advised as follows: Owing to keen competition between multiple shops, retail prices so far were not advanced in relation to importers-' prices. Example: LiptOns and Home Colonial Stores, two subsidiaries of Allied Suppliers, are still Is retail.

Germany is buying freely, particularly from Denmark. Russian supplies are still much below' the average of recent years. Small consignments of Canadian have arrived. Estimates of Canadian imports for the reason vary from 5000 to 7000 tons.

If retail prices are advanced in sympathy with importers’ prices we believe some check on consumption is likely, but butter now* in sight for June-October is hardly sufficient at the present consumption level. The general trend these months therefore points to a continued active demand, particularly as Tooley Street merchants are short of butter. This is dependent upon .consumption being maintained at a higher retail price*. Public spending power is certainly increasing. Uncertain factors arc: Russian imports, continuance of heavier German buying, and the effect of higher retail prices if multiples advance to normal profit margin. The Dairy Board’s London office reports last wreck’s closing quotations as follow, those for the previous week being shown in parentheses:

BUTTER. New Zealand, salted (equals approximately 13.22 d f.0.b.), Ills to 112 s (105 s to 107 s; June 12, 1935, 86s) ; unsalted, 112 s to 114 s (106 s to 108 s; June 12, L 935, 83s to 86s). Australian salted 110< to Ills (103 sto 105 s) ; unsalted, Ills to 112 s (103 s to 104 s). Irish creamery, salted, 114 s; unsalted, 116 s Danish, 97s f.0.b.. 118 s snot (92s and 112 s) Dutch, salted, 106 s: unsalted, 108 s (99s to 103 s). Polish, salted. 102 s (96s to 98s) ; unsalted, 103 s (96s to 98s). Lithuanian, salted. 107 s. CHEESE. New Zealand, white and coloured, 61s to 68s (64s to 665); c.i.f. 62s 6d (59s 6d). English finest farmers’, not quoted. English factory cheese, 56s to 60s (53s to 565). MINIMUM F. 0.8. PRICES HIGHER. The Dairy Board has fixed the minimum prices lor f.o.b. and c.i.f. sales on the basis of: Butter, 133 d ; cheese, 6-fd. The minimum prices are subject to agents’ selling commission of If per cent The prices are equivalent to 109 s lid c.i.f.e. for butter and 55s 4d c-i-f.e. for cheese. AGENTS REPORTS. The New Zealand Producers’ Cooperative Marketing Association’s weekly cabled market report from London dated June 12 is as follows: —Butter: Market guiet, New' Zealand Ills; Danish, 118 s. Cheese: Market quiet. New' Zealand, white, 60s to 61s; coloured, 61s. Joseph Nathan and- Company, Ltd., have received from their principals, Trengrouse and Nathan, Ltd., London, the following cabled advice, dated June 12:—New' Zealand butter: Some business at 110 s, market closing at Ills; steadier. New Zealand cheese: 60s to 61s; quiet A. H. Turnbull and Co., Ltd., have received the following cable from their principals, W. Woddel and Co., Ltd., dated London, June 12:—No demand. Butter: Danish, 118 s; New' Zealand finest, Ills; Kangaroo, finest, llOs. Cheese : Now Zealand white and coloured, 6ls. Mr Thomas Gray has received by cable from Row son and Co., Ltd., London. the following:—Cheese: White and coloured, 61s per cwt; market slow. Butter: Finest grade, Ills per cwt; market steady.