COMMERCIAL

Stratford Evening Post, Issue 81, 10 August 1929, Page 7

COMMERCIAL

DAIRY PRODUCE. The following are the top London quotations for the weeks ending July 6, 13, 20, 27 and August 3 respectively: Danish butter 1775, 1745, 1755, 1735, 17,35. N.Z. irasalted 172 s 1725, 1745, 1725, 1725. N.Z. salted 1735, 1725, 1735, 1725, 1725. Market slow, slow, quiet, slow, slow. Cheese, white 925, 90s, 91s, 89s, 87s. Coloured, 945, 925, 945, 935, 91s. Market slow, steady, steady, slow, slow. BUTTER, Prices of New Zealand salted butter have shown very little change during the past five weeks. On the other hand, Danish has shown a disI tinct decline of fully 4s per cwt. Some heavy selling took place, to London buyers early last month, presumably for Canada but orders were quickly filled and buyers then retired. During the present week, however, a renewal of f.o.b. selling on a much smaller scale has taken place, on the basis of Is 4|d per pound, n'ett f.0.b., which price, however, is -fully l-4d above present London spot parity. It is difficult to forecast the present trend of the London market which usually, at this period of the year, shows a fairly rapid rise in spot values. Acting against that, however, is the large increase in New Zealand gradings for the past dairy season, the heavy stocks of butter held in the United Kingdom which to-day amount to some 17,383 tonsi, a s agatost 14,500 tons jthis time last year. \ CftEESE. Prices of New Zealand have been slowly declining throughout the p'ast month 1 , owing principally ,%o the heavy stocks of both New Zealand and Canadian cheese available and the fact that the Canadian new season is offering at low price, c.i.f.e. London. Messrs W. Weddel and Co., Ltd., cable that best Canadian is now offering at 85s per cwt. c.i.f.e. United Kingdom, which is having the effect of making forward buyers nervous and in consequence, the customary buying orders which are usually available at this period of the year, are not forthcoming, buyers preferring to await arrivals before filling their requirements under the present circumstances. The only indication of f.o.b. values received has been on the basis of 8d per lb. f.o.b. 1 at which price our principals recommend factories to consign. As with butter, the stocks available in the United Kingdom are very much heavier than last year, being 123,300 crates New Zealand and Australian, as against 68,500 last year. Moreover, stocks in New Zealand at the end of July were also greatly in excess of last year's. GRADING S. Gradings in tons for the periods stated during 1927, 1928 and 1929 respectively are:— Butter graded during July, 650, 865, 796. Butter graded 12 months to 31st July 71,750, 74,723, 81,656. Butter in store at 31st July 2000, 1400, 2010: Cheese graded during July 200, 364, 409. Cheese graded 12 months to 31st July 76,3600, 75,750, 86,600. Cheese in store at 31st July 500, 300, 1225.