DAIRY MARKETS IMPROVE

Taranaki Daily News, 10 November 1932, Page 16

DAIRY MARKETS IMPROVE

EUROPEAN SITUATION UNCERTAIN

REPORT RECEIVED FROM LONDON.’

The English dairy produce markets have shown a general improvement recently, according to a report received by Mr H. M. Thomson, New Plymouth, New Zealand ■ representative for the An cr lo- , Continental Produce Company Ltd. They are, however, still very quiet owing to the uncertainty of the European situation and the very heavy make in Australia. Denmark, Holland and Finland,- states the report, are negotiating. with many 'for' increased quantities, And, P these' negotiations succeed . will secure, an allotment of about aO/30C tons for- the year, and Holland and Finland proportionately. The Russians will also be given a good allotment, and the ■Baltic States very email quotas. If this is finalised it'should prove a benefit for the New Zealand and Australian ■butter, as Germany will then 'be taking ■much more Danish, and the northern markets will accordingly be opeq tor •larger quantities of Dominion produceThe Russians are flooding this market with butter, no doubt in the endeavour to get as much in .as possible before the 15s per cwt duty becomes operative. The arrivals of Siberian butter during the past month were 73,000 casks as •against 4'2,000 last year.. The European countries, • such ae France, Belgium and Switzerland, are (short of butter, and in the industrial sections' of these countries, are ■their Governments to increase th the past month the market •has been consistently slow and weak. New Zealand salted dropped from 109 s to Tins on September 30 to 90s to -06 on October 28. During the same period Australian salted declined rOI P . to 94s to. 965. Spot price for Danish showed little variation, being Tooted at pigs to 120 s on September ,30 with a slight drop to 116 s to USs in the middle of the month which has now been recovered. , • Deliveries for October as compared with the same period last year show a decline of 457 tons in the case of New Zealand and an increase of ofll tons m the case of Australian. Apparently owin* to the operation of the Patterson bounty and her favourable exchange, Australia can undersell New Zealand; buyers have consequently been paying more attention to that country than would have otherwise been the case. Although the retail price of New Zealand butter was reduced from Is 2d to Is Id per lb this does not appear to have had the favourable effect on the deliveries that might have been expectCd buring 1931 the imports of butter into the United Kingdom from all sources were valued at £46,358,0T0, or practically double the pre-war figure. This will certainly be improved upon during the coming year, and it seems probable that the increased quantity can only go into consumption at low Pl Of S fhe future of the dariy produce market it is impossible to make any reliable forecast. No one can say what the result will -be of the tariffs and quotas arranged at Ottawa. The Britis market is the only one available to any. substantial extent, and there is ae yet no evidence that the buying power of the British public has increased. -~y (rise in the retail price will immediately cause a falling off in demand. (Even presuming a general rise in the retail price level of other commodities takes place, it is hardly possible that butter will share in this when the large quantities available on the worlds markets are considered. The cheese market has shown little variation during the past month. White •has been quoted as from 64s to 67s per cwt. and coloured 59s to 61s. During the same period last year both white and coloured were realising from 66s to 60s per cwt. (For some time past white has been securing a very definite premium over coloured, this at times-reach-dng as high as 6s to 7e per cwt. The 'retail' price in England has been increased by Id per lb to 9d. Deliveries have been well maintained and are nearly 14,000 crates ahead of the figures for the corresponding month of last year.