DAIRYING INDUSTRY

Waikato Times, Volume 118, Issue 19664, 26 August 1935, Page 2

DAIRYING INDUSTRY

BUTTER AND CHEESE. AN OPTIMISTIC VIEW. PRICES LIKELY TO IMPROVE. PALMERSTON NORTH, Monday. An optimistic view of the butter market was taken by ,Mr W. S. Foley, of Foley Brothers, Limited, London, in nn address at ihe annual meeting of the Kairanga Dairy Company, Limited, Manawatu. "There is every indication that prices will continue to improve,’ - said Mr Foiey. "We seem to have passed ihe peak of production. Subsidised systems appear to have run themselves out, as it has been recognised that subsidies cannot be continued for commodities for which the production is rising. Both Holland and Denmark have restricted their increases, and I think that we can look forward to lower supplies going on to the British market in the next four or five years. This must lead to better prices and I feel more -optimistic now than I have done for the last four years.” THE MARKET FIRM. FORWARD SELLING QUIET. AUCKLAND, Monday. Advices from London show that there is no material change in tho butter market and New Zealand salted is still selling at up to 95s per cwt. Cheese is -quoted unchanged at 48s to 50s per cwt. Both markets are firm. The forward market lately has been fairly quiet, as most factories are more inclined to consign their produce. However, -offers for first grade are available at slightly above 10Jd per lb f.o.b. and some business was done on Saturday at 10 5-Bd. This price is on the basis of 10 7-8 d finest, which is equal to about 93s per cwt. London.