BUTTER AND CHEESE

Sun (Auckland), Volume IV, Issue 1076, 13 September 1930, Page 11

BUTTER AND CHEESE

AN INTERESTING REVIEW MARKET ON LOW LEVELS An exceptionally interesting review of _ the butter and cheese markets is given by Joseph Nathan and Company, Ltd., under date September 10. The reviewers do not hold out very hopeful prospects for the near future. “The weakening tendency which was in evidence at the close of our last review has since become more pronounced, and the market is perceptibely lower—so much so that values are 10s to 12s a cwt. lower, and nearly on a par with prices ruling last April,” states the review. “Latest cables from our principals report that the market lacks support, even at lato rates the demand being very poor. Jt is quite evident that this further fall is duo to the continued depression in the Homeland, as total stocks of butter as reported on September 1 are no higher than at this time last year. Stocks of New Zealand, however, are considerably higher, being 3,000 tons in excess. “Many factories which have been holding for some considerable time have at last apparently despaired of obtaining their limits, and have reluctantly released their holdings for sale, an action which has led to stored butter being extremely difficult of sale, even at a discount of 2s a cwt. Question of Advances “During this season it is intended to review the market position monthly, and advances will be based on 80 per cent, of the estimated value. Operative as from September 5. these will be at the rate of lid a lb f.o.b. for butter, and 6d for cheese. “The weather continues to be seasonal and the one bright spot in an otherwise obscure outlook is the satisfactory increase recorded in August production, as compared with last year’s figures, butter being about 3 per cent, and cheese 23 per cent, higher. The season in Australia is now commencing, and indications are for another good season. Production will soon be overtaking local requirements, and increased shipments r for export will soon be made. Position In Canada “Our Canadian agent reports that stocks of butter in storage in Canada on July 1 were 22,183.1201 b, compared with 11,237,9001 h. last year, and a five-year average of 12,672,9661 b. This increase in stocks is practically due to increased imports, although there has been a slight increase in the butter make in Ontario, so far this season. The Ontario Department of Agriculture is very slow in issuing actual reports of production in the province. During the month of May the production in Manitoba was 20.5 per cent over last year, Saskatchewan 7.7 per cent, higher and Alberta 15.1 per cent, over last year. “Another factor that has resulted in an increase in the butter make has been the increase in the United States

tariff on butter, cream, and milk. A very large amount of milk and cream was exported from Canada along the St. Lawrence waterways. It was generally understood that the majority of this cream would go into the manufacture of cheese, but from official figures issued for Montreal, it seems as if most of it was made into butter. At the present time the situation with reference to imports of New Zealand butter next year is rather unsettled, j and will be until after the Imperial t Economic Conference. No matter what happens, however, Canada will be forced to import a certain amount of New Zealand butter during the coming season. Latest cables indicate a continuance of drought conditions there. “Wo are pleased to note that a direct steamer service from New Zealand to the Far Last and Japan is to be started.” IMPORTS TO UNITED KINGDOM Imports of blitter into the United Kingdom from all sources during June were;

AUCTION SALES TODAY A suburban section of one and a-half acres near Riverhead school and post office, containing a four-roomed dwelling, was offered by William A. Horne, Limited, and was bought in by the mortgagee for £325. A property with a five-roomed dwelling in New North Road, New Lynn, was bought in by the mortgagee for £490. George Walker, Limited, was the auctioneer. A large farm of 2,856 acres, near Kaukapakapa, offered for sale this morning by Richard Arthur, Limited, was bought in by the mortgagee when bidding reached £7,000. A four-roomed bouse in Mokoia Road, Birkenhead, offered by Richard Arthur, Limited, went to the mortgagee for £7OO. A five-roomed cottage at Third Avenue, Kingsland, offered by Samuel Vaile and Sons, for sale without reserve, realised £365. Houses at Parker Avenue, New Lynn, and Carlton Street, Hillsborough, offered by Samuel Vaile and Sons, were bought in by the mortgagees for £565 and £1,830 respectively.

June June 1930. 1920. From Cwts. C wts. Soviet Union (Russia).. 15,528 53,051 Finland 20,084 21,077 Sweden 20,210 10,032 Denmark 200,158 212,440 Netherlands 23,099 25,049 Argentine Republic .. 32,015 17,070 Irish Free State .. .. 07,154 82,360 Australia 07,502 50,506 New Zealand 70,016 64,427 Other countries 63,931 51,090 Total 682,965 610,52S