COMMERCIAL

Poverty Bay Herald, Volume LXIII, Issue 19038, 11 June 1936, Page 16

COMMERCIAL

DAIRY PRODUCE MARKETS LULL AFTER HEAVY TRADING butter'rr to" 11& -a cwt. The market for New Zealand buttei remains firm after a flutter of selling at the increased quotations, which reached as high as 113 s per cwt. ... one report. The highest price winch reached Gisborne 'to-day was 112 s per cwt., equal to just over 13ld per lb., f.0.b., or a payment to suppliers of about Mel per lb. butterfat. The highest .quotation for cheese shows no alteration from that received two days. ago. [ Messrs. .Joseph Nathan alid Company report having received', the following cable advice from London under yesterday's date:-- "After heavy trading in butter, there is a temporary lull, quotations now being Ills to 112 s per cwt., but the market is still firm. Chees.e is still quoted at 625, but the ■markit is quieter, some sellers offering suppliers at 6d per cwt. lower." This firm two days ago quoted butter at 112 s and cheese at 625. The immediate outlook for butter is promising. The stock position. is ivery sound. At the middle of last month all butters' in store were estimated: at 13,362 tons, compared with 20,654, tons held in May, 1935, and' 28,512 tons in May, 1934. At this time of the :year production in the Northern Hemisphere is reaching a peak, but supplies were lighter in April, due to cold weather. The Northern Hemisphere summer supply will not exceed that of the previous year. New Zealand expects to finish the season with a 5 per cent increase in production, but the Australian output will be considerably lower than last season. Conditions are dry in Australia and Queensland is the only State which now has a surplus of butter for export. The Southern Hemisphere season is now closing and shipments will be lighter for some months. . . An advance of lid a lb. for butterfat supplied during May has been decided on by the directors of the Levin Co-operative Dairy Company, Limited. For the same month last year, the advance was Bid.