DAIRY PRODUCE.

Taranaki Daily News, 11 March 1924, Page 5

DAIRY PRODUCE.

HOME MARKETS DULL. VALUES SHOW' DECLINE. All cabled advices received at the week-end state that the butter market is very quiet, with values showing a further decline. New Zealand salted butter dropped from 188 s per cwt. on March 1, to 182 s on March 6, finest Austialian butter, salted and unsalted, had fallen 10s ta 1725., and Danish butted dropped 2* to 2145. The difference between Danish and New Zealand butter" amounts to 32s per cwt. in favour of the former, and as this margin is abnormal, it should be a matter for close investigation. It is somewhat singular that Danish butter ha* actually advanced 2s as compared with the quotations ruling prior to the strike, while the New Zealand quotation is 12s lower. The weakness of the spot market is attributed to heavy arrivals of New Zealand butter. New Zealand shipment* due to arrive in March and April show a further increase, and it is not anticipated that there will be any falling oC in supplies from the southern hemisphere until about the end of May. Australian production has increased as the result of the rain* experienced Home months ago, and the January shipments amounted to 5300 ton*, which is more than double the quantity shipped in December. The shipments from the Argentine during January were also heavier than in any previous month this season. There is thus very little likelihood of any sudden recovery in thi immediate future. It is expected that heavy Russian shipments will begin to’ arrive in England in June. The heavy shipments of cheese are now reaching the market, and in consequence values have declined rapidly, the current quotation be»ing 86s for white, and 88* for coloured. The New Zealand cheese production has increased by 11,200 tons up to the end of February, while the shipments show an increase of 13,500 tons over last year. The shipment of butter in March will amount to 180,000 cwt. and of cheeae to 160,000 cratM.—Dominion.