DAIRY PRODUCE

Timaru Herald, Volume CXXXVII, Issue 19248, 30 July 1932, Page 19

DAIRY PRODUCE

WEDDEL AND CO.’S REPORT. Writing from London on June 20, Messrs W. Weddel and Co., Ltd., said—- “ Since the issue of our last report no material change has taken place in the general conditions governing this market. The Continent to a very great extent continues to influence, and, in fact, to almost dominate, the position here. So far no alteration has been made in the various restrictions limiting the importation of butter into the principal Continental countries, viz.. Germany, France, Holland, Switzerland, Belguim, etc., and, this being so, quantities considerably in excess of the normal have been pressed for sale on the British market, more particularly from Denmark and the Baltic States. These European supplies, together with the arrivals from New Zealand. Australia and the Argentine, are proving fully ample for the present requirements of this market. and although prices have been well maintained, it is very difficult for the •time being .to effect any material advance in values. Meantime the consumptive demand continues good, and as far as can be ascertained there is no undue accumulation of stocks. New Zealand.—At the opening of the period a fairly good demand set in for this description, and, following on a prolonged spell of inactivity, holders were not slow to avail themselves of the opportunity to advance prices, which, during the first two weeks, improved 4 - per cwt. Buyers having filled their requirements, however, the demand again slowed down, and with Danish butter being pressed for sale j about this time at exceptionally low j rates, sellers of New Zealand had no I recourse but to reduce values in order ito induce business. Eventually there was a slightly better inquiry, and values Recovered to the extent of 1 - per cwt. The market at the close is decidedly steadier. Australian.—Here, also considerably more activity was evident during the first two weeks, and values improved to the extent of 3 - per cwt. This was followed by a rather dull, lifeless spell, and the previous fortnight’s advance was lost. Latterly more interest was shown, and prices advanced 1. - per cwt. The demand for secondary and inferior quality continues fairly steady, but unsalted is slow of sale at the same price as salted. The undertone of the market at the close is firm. Danish. —For the reasons stated above, present conditions must be proving very difficult for the Danish producers. Their usual Continental outlets are greatly curtailed, and they are. therefore, compelled to offer the greater part of their production on this market. In order to get each week’s make cleared, comparatively low prices have had to be taken, the quotation at the close being around 85/- per cwt. f.0.b., equivalent, with the 10 per cent, import duty, to about 97/- London. Cheese. —During the greater part of the period, trading in this commodity has again been very disappointing. At the opening there was a slight improvement in the demand for New Zealand cheese, and prices advanced 2- per cwt., but during the following fortnight little business was done, and values fell away ag&in. Towards the close, under the influence of warmer weather, perhaps, a better market prevailed, and prices advanced 2 - to 4/per cwt., but the demand is still far from brisk. Values of Canadian matured cheese on spot remain more or less unchanged, while cable offers are now coming to hand for the June make at 55 - to . 50, - per cwt. c.i.f. for ..best sections.

British Imports. Imports of butter and cheese into the United Kingdom in the first five months of 1932, as compared with the corresponding period of 1931:

1931. 1932. Cwt. Cwt. Butter— • Russia 32,270 29,635 Finland .. 106.189 96.788 Estonia 11.031 7,592 Sweden 83,419 69.535 Denmark 923.601 937.171 Netherlands .. .. 33,173 13,512 Argentine 230.868 242,327 Irish Free State 47.812 37,577 Australia .. .. 737.448 824.520 New Zealand .. 975.678 1,081,815 Other countries 46.171 48.909 Cheese— 3.229.660 3,389,409 Netherlands .. .. 69.559 81.529 Italy 56.603 48.399 Australia . . 34,231 38,104 New Zealand .. 1.090,857 1.000.809 Canada 14,186 32,626 Other countries 35,692 21,495 1.310,178 1.222,952