BETTER DAIRY SEASON

Poverty Bay Herald, Volume LXIII, Issue 19030, 2 June 1936, Page 6

BETTER DAIRY SEASON

GISBORNE’S £330,000 INCREASE OF £50,000 PRICES REACH 104/- A CWT. The increased prices during the current dairying, season, compared with those during 1934-35, will mean an increase of about £50,000 paid to dairy farmers in the Gisborne and Coast districts.

With the increase in London rates during the past few weeks, it seems as though the season’s average payments, including the final disbursements to be made after the close of the season, will exceed Is per lb Much of the autumn manufacture has to be marketed yet, and with the market at present over 100 s per cwt it is hoped that most of the autumn output will be. disposed of at an f.o.b equivalent of over Is per lb. In the early part of the season, prices up to 128 s per cwt were obtained. Based on those figures, the 3CCO tons of butter manufactured in the Gisborne and Coast districts should be worth about £330,000 for the whole season The past season’s butter was worth about- £280,000.

The present market conditions are distinctly favourable, although a quiet tone lias developed since quotations exceeded I.os. The highest price reached in the latest rise is 104 s at the close -of last week, and at this level the f.o.b. equivalent is about 12id per lb. A year ago New Zealand butter was worth only 85s per cwt in London, equal to just over -4(1 per lb, f.o.b. The New Zet land Dairy Board reports that on May 29, the following) prices were quoted, the figures in parentheses being those of the previous week New Zealand, salted 102 s to 103 s with exceptional quality at lC4s (97s to 98s), unsalted 103 sto 104 a (98s); Australian, salted 100 s to 101 s (965), unsalted 100 s lo 101 s (96s to 975); South African, salted 95s to 935; Dutch, unsalted 96s to JBs (88s to 945); Siberian, salted 98s to I.oos (G6s to 975); Polish, salted 93s (88s to 90s); Danish, f.o.b. 89s (88s), spot 110 s (108 s). The market w'as described as quiet at the advance, with the New _>ealand retail price increased to Is, and Danish unchanged at Is Id.

Stocks of New Zealand butter in London increased by 529 tons during the week to 4631 tons after 1618 tons had been delivered ; a year -ago, 7611 tons re mained after 1787 tons were delivered. Australian stocks declined during the week from 4650 tons to 3381 tons after 1745 tons had been delivered: a year ago, stocks of Australian totalled 7454 tons.

Stocks of all butters have increased considerably during the past fortnight-. The Imperial Economic Committee’s estimate is. 642,123 boxes, compared with 543,485 boxes a. fortnight before. A year ago, the stocks totalled 920,337 boxes.

Forward’ prices continue to advance, and sales have been made at per lb, f.0.b., equal to' about. 109 a per cwt London, for June-July shipment.