COMMERCIAL

Waikato Independent, Volume XXVII, Issue 2850, 18 October 1927, Page 6

COMMERCIAL

DAIRY PRODUCE. FOUR WEEKS' REVIEW. Messrs A. H. Turnbull and Co., produce merchants, review the market opj orations for the past four weeks as follows: Butter: Up to the 24th September, the, market continued to rise and there was a. general feeling in the trade that prices would go higher still, pending the arrival of new season's butter from the Southern Hemisphere. The news of good rains in Australia, together with advice from New Zealand of the sailing of the Westmoreland and Port Caroline, carrying the first heavy cargoes of New Zealand butter, caused buyers to become somewhat cautious. The market has become quieter, and although top quotation for finest is still 182/, it is difficult to make sales at this price. There are plenty of sellers of stored finest at from 179/ to 180/, whilst finest grade can be bought at 178/. Cabling on the 7th instant, Messrs W. Weddel and Co., Ltd., advise that the market is extremely quiet, as apparently the larger buyers have filled-their immediate requirements and have with-: drawn from the market. Present stocks in cold store equal approximately 590,- ; 000 boxes of butter./ In view of this and the increased production in NewZealand dtiring'Septcmbcr and October, we do not anticipate any groat improvement in the market meantime. Canada: Buyers in Canada refused to follow the upward trend of values as indicated by offers from New Zealand, and it has been difficult to induce them to* repeat, business .even at former rates. There arc indications, however, that further sales may soon be possible, provided sellers are available at about 1/5-J November-December shipment.

•Cheese: The market has continued to steadily improve and has now reached the high level of 106/. It will be very interesting to see what quality of new season's make the market will be able to absorb at this price. Forward buyers arc by no means as active as they were a-few weeks ago, although a few sales have recently been made at 9d f.b.b. to the end of December make. Gradings. Butter graded during September, 1925, 3900; 1920, 4350; 1927, 5500. Butter 4n store N.Z.. end September, 1925, 4750; 1926, 2750; 1927, 310 Q. Cheese graded during September. 1925, 3700; 1926, 3100; 1927, 3450. Cheese in store N.Z. end September, 1925, 4050; 1926, 1300; 1927, 2400.

BUTTER AND CHEESE MARKET QUIET. PRICES UNCHANGED. Messrs Delgety and Co., Ltd., report having received the following cablegram from their London house dated' 13th instant: — , Butter: The market is very quiet. New Zealand finest salted, 174/ to 178/; Danish, 194/; Australian finest unsalted 176/ to 178/; finest salted, 174/ to 176/. Cheese: The market is very quiet. New Zealand white, 102/ to 104/; coloured, 102/ to 104/; Canadian white, 102/ to 104/; coloured, 102/ to 104/; Canadian ; ci.f v 100/ to 102/. The total imports of butter into the United Kingdom last month were 463,000 cwt, as compared with 429,000 ewt for corresponding period of last year.