WEEK’S DAIRY MARKETS

Taranaki Daily News, 17 January 1931, Page 10

WEEK’S DAIRY MARKETS

BUTTER QUIET TO SLOW CHEESE PRICES 575. TO 58s. CWT. X — review; OF STOCK POSITION. 4 Butter is slow, Danish being quoted at 1295,, choicest salted New Zealand 114 b. to 1165., Australian 108 s. to 110 s., unSalted about 2s. premium, states a Press Association message of Thursday’s London market. Cheese is dull, New Zealand, white and coloured being quoted at 575. to 585., and Australian at 565. “The butter market is quiet,” states a cable received yesterday by Mr. E. Griffiths from his London principals, A. J. Mills and Co., Ltd. _ The following quotations are given, with last week’s in parentheses:—New Zealand finest, 114 s. to 116 s. (117 s. to 118 s.); first, 114 s. (116 s. Danish, 1265. to 128 s. (138 s. to 140 s); Australian, 106 s. to 110 s. (108 s. to 113 s.); New Zealand finest unsalted, 118 s. to 1205.) (118 s. to 1205'.). The cheese market is reported as quiet, continues the report. New Zealand white, 575. to 58s. (585.); New Zealand coloured, 575. to 58s. (605.); Canadian white, 745. to 765. (745.); Canadian coloured, 745. to 765. (765.).

Joseph Nathan and Co., Ltd.’s quotations from Trengrove and Nathan, Ltd., with last week’s in parentheses, are: Butter 115 s. to 116 s. (116 s. white and coloured full cream cheese 58s. (585.).

“The prices for cheese remain much the same as last, week, but our principals, R. and W. Davidson, Ltd., report a slight upward tendency,” states a report received yesterday from Newton King, Ltd. Coloured is quoted at 575. to 58s. (58s. to 595.), and white 575. to 58s. (58s. to 605.). “The butter market closes steady with prices unchanged from last week. Salted is 114 s. to 116 s. (114 s-. to 1165.).” “The butter market is. steadier,” states Lonsdale’s cable under Thursday’s date. The following quotations are given, with those for last week in parentheses: Danish 1295. (1295.), New Zealand 114 s. to 1165., (116 s. to 118 s.), Australian 108 s. to 110 s. (112 s. to. 1145.). The cheese market is dull at from 575. to 58s. (58s. to 605.).

The New Zealand Loan and Mercantile Agency Co., Ltd.’s quotations are: New Zealand choicest salted butter 116 s. (117 s. to 118 s.); cheese, 575. to 585., (white 595., coloured 585.).

DECREASE IN BUTTER EXPORTS. LARGE INCREASE IN CHEESE. Exports of butter last month were 10,443 tons, as 10,834 tons in December, 1929, a decrease of 391 tons. For the five months of the season ended December the exports totalled 35,667 tons, as compared with 37,204 tons for the corresponding period of last season, a decrease of 1537 tons. Of the butter exported to the United Kingdom last month, the position at time of shipment was that 91 per cent, was consigned and 9 per cent, sold f.0.b., as against 92 per cent, consigned and 8 per cent, sold f.fi.b. in December, 1929. Details of shipments furnished by the Dairy Board for the five-monthly period afford the following comparison: -r

The fact that the stocks of butter held in store in Dominion grading ports at December 31 were 2394 tons more than a year ago doubtless explains the decrease ii| exports.' It will be seen from the above table that the British market has absorbed the greater part of the butter formerly shipped to Canada. At the end of December, 1929, over 12,000 tons of butter had been shipped to Canada, Halifax shipments accounting for 10,185 tons, and Vancouver 1904 tons. This season to December 31, Canadian shipments total only 1354 tons, a decrease of 10,735 tons. On the other hand shipments to Britain have been 33,673 tons as against 24,490 tons a year ago, an increase of 9183 tons. The exports include 2485 tons shipped to west coast ports of Britain as against 864 tons,\an increase of 1621 tons. CHEESE EXPORTS GREATER. Exports of cheese last month were 10,767 tons, as against 8839 tons in De-' cember, 1929, an increase of 1928 tons. For the five months of 1930 the exports of cheese were 29,894 tons, as against 25,515 tons a, year ago, an increase of 4379 tons. The whole of the cheese exported during the five months of ‘this season was consigned, as against 79 per cent, consigned and 21 per cent, sold f.o.b. in 1929. The five months exports compare as follow':—

POSITION OF DAIRY STOCKS. DAIRY BOARDIS REVIEW. The statistical position of dairy produce stocks as disclosed by the Dairy Board’s latest return is an interesting one. At the beginning of this month London stocks were less by 1800 tons than a , year ago, while New Zealand stocks afloat and shipped were greater by 5800 tons. The total stocks of cheese “in sight” at the beginning of this month were nearly 3500 tons greater than a year ago. Details of stocks as at January 1 compare as follow:— BUTTER.

CHEESE. Estimated stocks at London, Liverpool, and Bristol; —

WEATHER INFLUENCES BUYERS. A review of the month’s operations on the dairy produce markets is supplied by A. H. Turnbull and Co. During the past month, states the report, New Zealand has experienced hot and’dry weather in almost all butter producing districts, and reports of decreasing production having reached those interested in London caused buyers there to consider the position more closely, only to find that the low retail price had so stimulated consumption that stocks of stored butter were very low, whilst arrivals were finding a ready market on landing. Heavy buying of protective stocks resulted. At the same time a Continental demand set in, with the result that spot prices advanced from 98s. and 104 s. at the end of November to 116 s. and 118 s. on January 2. W. Weddel and Co., Ltd., cable that the spot stocks on January 1 were very low, and the retail price has again been increased to Is. 3d., but that they expect a steady market.

Forward buyers were busy during the latter part of the month, and many sales of January-February-March make and shipment took place at prices ranging from 11 3-Bd. to Is. per lb. nett f.o.b. Buyers’ requirements were quickly filled at the higher price quoted. The gradings w’ill come somewhat of a surprise to the trade, a considerable increase being disclosed despite the weather conditions.

London reports a most disappointing cheese market, for although the retail price has been reduced to 9d. per lb., demand has not increased to any extent, and buyers are merely- operating for current requirements and there is no sign of improvement in the near future. Forward buyers have been inactive, although isolated sales at 5Jd. to 6d. f.o.b. are reported. Grading figures show a heavy increase in cheese production for the month. Dual factories are reported to be considering the difference in values of cheese and butter production. Butter graded in December, 1928, was 12,700; 1929, 14,700; 1930, 15,434. Butter graded five months to December 31, 1928, 43,700; 1929, 48,717; 1930, 50,925.

Butter in store end of December, 1928, 5650; 1929, 8782; 1930, 11,176. Cheese graded in December, 1928, 13,250; 1929, 13,350; 1930, 15,200. Cheese graded five months to December 31, 1928, 39,550; 1929, 38,050; 1930, 42,650. i Cheese in store end of December, 1928, 7450; 1929, 8921; 1930, 11,366.

London ........ 1930. Tons. 31,188 1929. Tons. 23,626 West Coast U.K. . 2,485 864 Vancouver > Halifax and 1,317 1,905 Montreal 37 10,185 Honolulu 139 160 Other countries . 235 379 Panama 266 86 Total 35,667 37,204

1930. Tons. 1929. Tons. London ..... — 26,173 23.322 West Coast U.K. 3,687 2,064 .Australia ...... 1 14 Vancouver —.,. 6 73 Other countries .. 27 42 Total 29,894 25,515

1931. Tons. 1930. Tons. 1929. Tons. Estimated stocks of all butters in London, including- private and provincial stores and <steamers not 9.700 11,500 9,000 Stocks in N.Z., * including loaded into steamers not sailed finally at January 1 N.Z. stocks afloat . 16,350 11,954 12,500 10.000 9,905 11,305 28,30-1 22,500 21,210

1931. 1980, 1929. Tons’, Tons. Tons, New Zealand and Aus2,085 4,943 2,586 Canadian . - • 9,352 7,907 5,578 14,295 10,493 7,663 Stocks in New Zealand, ' including steamers not sailed. finally at January 14,786 14,429 14,300 Stocks afloat from 15,314 New Zealand .. •. 12,784 13,481 27,570 27,910 29,614 Total in sight .... 41,865 38,403 37,277 The following are the stocks of butter and cheese held in Canada at January 1: —• 1931. 1930. 1929. Tons. Tons. Tons. 9,356 6,033 5,991 7,219 5,393 8,241 into account Canadian cheese both in Canada and the United Kingdom, the position shows:1929. 1931. 1930, Tons. Tons. Tons. 7,219, 5,393 8,241 In United Kingdom. 9,352 7,907 5,578 .. 16,571 13,300 13,819 The following are the stocks of butter and cheese held in the United States at January 1: —• 1930. 1929. 1931. Tons. Tons. Tons. 28,281 36,534 19,547 28,286 28,889 30,489