EFFECT OF SEASON

Taranaki Daily News, 14 January 1935, Page 7

EFFECT OF SEASON

DAIRY PRODUCE PRICES. “EXPECTATION OF FIRM MARKET.” During the first half of December the London butter market was quiet, with very little inquiry, reports Messrs. A. H. Turnbull and Company, Ltd. Buyers had secured their Christmas requirements, and with good rains in Australia production appeared assured, and prices gradually fell away for landed sales from 72s to 70s per cwt. Cabled news of a continued fall in New Zealand gradings owing to the dry season and reported curtailment in Australian shipments had the effect of steadying the market. About the middle of the month a strong demand for Continental butters from Germany and news from the United States that there was likely to be a shortage there caused the market for the first time to show sighs of a real recovery and the latest quotations were 83s to 84s pex - cwt for finest Fernleaf butter. In New Zealand a steady demand for January and February shipment to the United States had been experienced, and sales to a limited extent had already been effected. Recent cabled advice from Messrs. W. Weddel and Company, Ltd., indicates that the London market has advanced on the strong statistical position for January and February supplies, with the possibility of an increasing demand from the United States. On the other hand. United Kingdom buyers are apprehensive and are watching closely the shipments from Australia, fearing that the higher values Will tend to increase early shipments, but with the continued demand from Germany Messrs. W. Weddel and Company, Ltd., expect a firm market. Forward sales have been fairly numerous, both for shipments to the United Kingdom and to the United States, prices running from 9d to 9y«d a pound, it is reported... Selling factories have mostly disposed of their January-February shipments and are now inclined to raise their limits to 9%d for later make. In sympathy with butter, the cheese market has firmed very considerably, both white and coloured closing at 47s fid, with a firm market, which Messrs. W. Weddel and Company, Ltd., think .will continue, so long as there is no pressure to sell. Forward buyers’ have made bids up to 5 l-8d a pound f.0.b., but factories are more inclined to adhere to their consigning policy for the present. WEEK-END REPORTS. 1BUTTER SHOWS DECLINE. Dairy produce prices have been fixed on the basis of 9 3-8 d for butter and 5d for cheese, the Press Association reports from Wellington; Reports received by agents in Taranaki at the week-end indicate a quieter tone on the butter market, with cheese remaining steady. Mr- H. M. Thomson. (Anglo-Continen-tal Dairy Produce Company, Ltd.) reports that the butter market is quieter at 82s. Cheese is steady at 49s for both coloured and white. A. S. Paterson and Company, Ltd. (Messrs. J. and J. Lonsdale and Company,' Ltd.), report that the butter market is firm, prices quoted being: New Zealand 83s to 84s, Australian 83s, Danish 94s f.0.b., and 115 s landed. The cheese market is firm, prices being: New Zealand 495, Australian '47s 6d. Messrs. Collett and Company, Ltd., advise that the following quotations are current: Creamery butter finest 83s to 84s, first 82s to 83s; cheese, white 48s to 495, coloured 48s to 495.