DAIRY PRODUCE.

Taranaki Daily News, 20 December 1924, Page 10

DAIRY PRODUCE.

LATEST LONDON PRICES,

CHEESE REPORTED FIRM,

DROP IN BUTTER EXPECTED. Cabled advices received in New Plymouth yesterday, dated London, Thursday, stated that New Zealand salted butter was quoted at -206* and unsalted at 2145. While the prices are a shade better than those of last week, the market, however, is reported to have a downward tendency. New Zealand cheese was reported to be firm at 96s for both white and coloured against 94s on a firm market last week.

This week’s quotation* are equivalent to approximately 7Ad per lb. f.ojb. New Zealand ports for salted and Is ■Sid for unsalted, the butter-fat price* 'being approximately 1-s S.Old and Is 9.19 d per lb. respectively. The cheese quotation is equivalent to approximately S.3Bd per lb. f.o.'b. New Zealand ports and Is 7.04 d per lb. butter-fat for September. October, November make.

Discussing the market prospect* with lan expert yesterday, a Daily News re- ; porter was shown a letter from a wellknown London house under date London, November 4, in which it was stated that the cheese market had maintained its strength longer and better than was expected. The opinion was expressed that unless -there was an increase in the October, November, December output of cheese from New Zealand, *lack but not slumpy markets might be expected, that is, the markets would remain steady without any serious depression. A* instead of showing aii increase, the output of cheese for October and November and the forecasted total output for December are below those of last year, it may be confidently anticipated that cheese factories will do fairly well during the next few months. In the period mentioned the output last year was 21,929 tons, but this year it is only 19,739 tons, a decrease of 9.7 per cent. With butter, however, the position is different. Some months ago it was stated in the Daily New* that butter was likely to command good prices until about Christmas, and that thereafter an easier time might -be expected. The first part of this forecast has been fulfilled and the indications point to the second part of the prediction being fulfilled also. In October, November and December of this year the total output of butter in New Zealand is expected to be 25,970 tons, against 21,007 tons in the same period last year, an increase of 20.2 per cent. It is the arrivals in London, however, which count, and it is because of tills fact that the butter prices of to-day cannot be regarded with undue optimism. Due to arrive in London this month are 1-66,000 boxes. In January over three times that quantity namely, -501,000 boxes, is to- be landed there. With such a quantity arriving, followed as it will be by 324.000 boxes in February, lower prices must be expected. Other information which came to hand yesterday stated that importations of butter into Great Britain during November were 18.609 tons, a decrease of 814 tons on November last year. The cheese importations were 10,697 ton*, a decrease of 2071 tons.

LONDON QUOTATIONS. BUTTER 2065; CHEESE 965. Bj- Telegraph.—Press Assn.—Copyright. Received Dec. 19, 8.35 p.m. London. Dec. 18. The butter market is quiet. New Zealand choicest salted is quoted at 2065. Unsalted is scarce, being quoted at 2145. Other quotations are:—Australian salted, 188 s to 190 s; unsalted, 192* to 1945; Danish, about 2405. Cheese i* firm. Quotation*:—New Zealand. 94s to 965; Australian, 90s to 925.