WELCOME RECOVERY

Wanganui Chronicle, Volume 73, Issue 450, 16 December 1930, Page 9

WELCOME RECOVERY

BUTTEB ACTIVE AT 112/116/CHEESE FIRM AT 60/65/A welcome ‘ ‘ Christmas box ’ ’ for the Dominion’s dairying industry is the very marked improvement in the London market. On Friday New Zealand salted butter was selling freely at 112 s to 116 s a cwt, a rise of 10s on the week, while cheese was firm at 60s to 655, a rise of 4s to 5s a cwt. With the clearance of old stocks at low prices, the field is now practically clear for the new season’s arrivals. Deliveries of New Zealand butter last week totalled 2480 tons, or nearly double those of a year ago. The quantity in stock was only 2653 tons, whieh, at the recent rate of deliveries, represents little more than a week’s supply. The Dairy Board’s report says the demand for butter continues active, retail prices being unchanged. While one Tooley Street report indicates that a reaction in the market is expected, it is noteworthy that f.o.b. sales wore made early last week at lOd to 10$d per lb, and on Friday at up to llid for December-February shipment. Australian butter recovered 8s and Danish 10s to 14s on the week. The cheese market is firm and retail prices arc unchanged. The Dairy Board’s London office gives Friday’s quotations, with those for the previous week in parentheses, as follow: — BUTTER New Zealand salted, 112 s to .116 s (102 s to 106 s); December 13, 1929, 160 s to 1645; unsalted, 116 s to 120 s (110 s to 116 s; December 13, 1929, 180 s to 186 s); first whey, 104 s (945); second whey, 102 s (925). Australian, salted, 108 s to 112 s, ex114s (100 s to 104 s); unsalted, 110 s to 114 s (106 s lo 110 s). Argentine, unsalted, 104 s to 110 s, ex112s (98s to 104 s). Danish, 133 s f.0.b.; 140 s to 142 s spot (119 s 130 s to 1325). Dutch, unsaltcd, 138 s to 142 s (128 s to 130 s). French baskets, salt, 136 s to 138 s (-)• CHEESE New Zealand, white, 62s to 65s (58s to 60s; December 13, 1929, 88s to 90s); coloured, 60s to 63s (56s to 58s; December 13, 1929, 87s to 88s). Australian, white, 61s to 62s (58s); coloured, 60s (565). Canadian, white, 75s to 78s, ex. 80s (74s to 78s; 80s); coloured, 75s to 765, ex. 78s (74s to 765; 78s). English, finest farmers’, 100 s to 106 s (100 s to 106 s). Course of the Market The course of London prices for New Zealand butter and cheese since August, 1929, is shown in the following table, which gives the quotations ruling at the beginning of each month, except when otherwise stated: —

Full Cream Cheese Some exporters of cheese have received advice from Tooley Street that their “full cream” cheese has been realising a premium of approximately 3s per cwt., and in one instance 4s per cwt-, over the price of standardised cheese. It is also reported that in one case second grade ”full cream” cheese obtained a premium of Is per cwt- over the price of “finest” grade of standardised cheese. Stocks and Deliveries Deliveries of New Zealand butter for the week were 2480 tons, as against 1317 tons for the corresponding week a year ago. Stocks total 2653 as compared with 3500 tons a year ago. Deliveries of Australian butter for the week were 1262 tons as against 462 tons a year ago. The quantity in store is 550 tons as compared with 937 tons a year ago. Deliveries of New Zealand cheese for the week were 25,000 crates as against 17,089 crates a year ago. Stocks total 37,758 crates as compared with 36,523 crates a year ago. Deliveries of Canadian cheese for the week were 17,145 boxes as against 15,064 boxes a year ago. The quantity in store is 246,700 boxes as against 203,267 boxes a year ago. The position of recently-arrived New Zealand shipments is as follows: —Ruahine, finished discharging butter December 5. Zealandic, finished discharging cheese December 9 and started discharge butter same day. Big Shipment for London A shipment of 89,897 boxes of butter and 18,087 crates of cheese was taken by the Rangitane, which left Auckland on December 6 for London- The butter included 84,811 boxes salted, 4566 boxes unsaltcd, and 520 boxes whey. The cheese comprised 12,773 crates white and 5314 crates coloured-

1929. Butter. Cheese. Cheese. White Coloured Per-cwt. Per-cwt. Per-cwt-August . 169/172/- 86/87/- 90/91/Sept. 172/178/- 91/92/- 93/94/Oct. . . . 179/184/- 95/96/- 94/95/Nov- . . . 164/170/- 94/95/- 92/93/1930. Jan- . . . 156/160/- 87/88/- 85/86/Feb. . . . 152/154/- 90/91/- 88/89/March . . 138/142/- 83/84/- 83/84/April 120/124/- 70/73/- May128/134/- 82/84/- 87/88/June . . • 124/130/- 76/77/- 82/83/July . . . 134/137/- 75/77/- 81/83/. August . 136/138/- 77/80/- 82/83/Sept. 124/128/- 71/73/- 76/78/Oct. 3 . . 116/122/- 71/73/- 70/72/Oct. 10 . 110/116/- 69/71/- 68/70/Oct. 17 . 112/117/- 74/76/- 7.1/73/Oct. 24 . 112/118/- 75/76/- 71/73/Oct. 31 . 108/116/- 73/74/- 70/71/Nov. 7 . . 108/116/- 73/75/- 69/71/Nov. 14 . 107/114/- 73/74/- 68/70/Nov. 21 . 104/108/- 71/73/- 67/69/Nov. 28 . 89/104/- 63/66/- 59/63/IDec. 5 . . 102/106/- 58/60/- 56/58/Dec- 12 . 112/116/- 62/65/- 60/63/-