DAIRY PRODUCE FIRM

Waipa Post, Volume 49, Issue 3505, 14 August 1934, Page 8

DAIRY PRODUCE FIRM

LONDON MARKET IMPROVING. In their monthly market report Messrs A. H. Turnbull and Company, Ltd., state that during the first half of July the arrivals of butter in the United Kingdom Were unusually high for the time of year. Held stocks of Australian ibutter shipped in Jun’e made their appearance in London and at the same time heavy supplies of Continental butters, failing to find the usual market in Germany, were diverted to* the United Kingdom. This caused a distinct weakness, which continued until the middle of the month. Consumption in the United Kingdom has been good, and once the German market was re-opened a spectacular rise in Danish prices occurred, while New Zealand and Australian values increased to a lesser extent. iStocks of New Zealand and Australian butter in the United Kingdom are still heavy, being 21,700 tons as against 11,700 tons last year. On the other hand, the stocks held awaiting shipment from the southern hemisphere are light. Cabled advice from Messrs W. Weddel and Company, Ltd., are to the effect that we may expect a steadilyimproving market for sometime to come. Cheese did not suffer the fall in pxdce to the same extent as butter, and remained steady throughout the month, with a firming toward the end of July. The stock position of cheese is quite sound, and although Canadian new season’s is now coming on the market, Messrs Weddel and Company report that they expect; cheese to remain steadily firm with a prospect of a gi’adual increase in quotations.