BUTTER AND CHEESE.

Waikato Times, Volume 96, Issue 15864, 8 December 1923, Page 7

BUTTER AND CHEESE.

PROSPECTS IN ENGLAND. MARKET TEST IN FEBRUARY. LARGE SHIPMENTS SENT FORWARD (By Telegraph —Special to Times.) WELLINGTON, Saturday. Between now and January 10 there will be at least ten steamers sailing from New Zealand. The total cargo of butter carried by these steamers will be about 11,000 tons. Although this is a large quantity it must be borne in mind that Australian shipments are very much less than last year. It is estimated that the December shipments from Australia will be only 3000 tons, but on the other hand there is an increase of about 40 per cent in Argentine shipments. H looks, therefore, as though the real test of the butter market will be during February when over 20,000 tons of butter will be imported into the United Kingdom from all sources. Very dry conditions are still being experienced in Australia, especially New South Wales and Duecnsland. It is, however, far too early to state whether there will be need to draw butter from New Zealand for local consumption during tno autumn and winter. If rain were experienced in New South Wales and Queensland to any extent during the next six weeks production in Australia would be rapidly increased and would entirely alter the statistical position.

Prospects for Cheese. The cheese position is very unsettled. While it is true that between January and June the Unitea Kingdom is almost entirely dependent on New Zealand supplies, the fact remains that production in New Zealand is very much greater this year than last. Up to the end of Novembei 22 000 tons of New Zealand cheese we're received into cool stores as against approximately 11,000 tons las year, and it is almost certain that no less than 10,000 tons will be received during December. A very large quantity of cheese will be shipped during the present month and early in January, and if the home market can stand up to these shipments without any serious break in prices the outlook loi the remainder of the season should he fairly satisfactory, as production m New Zealand from January onwards will commence to taper off, especially if the present dry conditions throughout the Dominion continue t or any length of time. In the meantime the export market in London for cheese is firm at 106 s to 108 s or say 9£ per lb., f.0.b., New ZealandFURTHER RISE IN BUTTER. CHEESE ON THE ASCENT. The FA C., Ltd., have received the following cable from their London office: "Butter, 220 s to 2245; cheese, £5 10s to £5 12s' 6d." Messrs Dalgety and Company have received the following cable from their London office, under date December "Butter.—Market very firm. Ws quote: New Zealand butter, salted, at 2205; New Zealand exceptional brands, 2245; Danish butter 2285; finest Ausrrkian salted 2165; finest Australian, unsalted, 2205. "Cheese.—Market steady. We quote: New Zealand at 108 s and 110 s; Canadian CLE. September make 110 s.