DAIRY PRODUCE.

Press, Volume LXVI, Issue 20108, 11 December 1930, Page 12

DAIRY PRODUCE.

LONDON QUOTATIONS. TURNBULL AND CO.'S REPORT. Messrs A. H. Turnbull and Co. report as under: — Xov. Nov. Not. Dec. ., , u 22nd. 29th. 6th. Danish butter 141/- 139/- 181/- 131/. N.Z. unsalted 149/- 147/- 127/. 113/ ! N.Z salted 110/6 106/- 101/- 104/-" Market Quiet. "Weak. Weak. Firm. N.Z. cheese— i White . . 73/6 72/- 64/6 59/Coloured 69/- 66/- 61/- 57/- j Market Steady. Quiet. Weak. Good Estimated arrivals.in United jng December, 1930, and January, 1931, compared -with actual arrivals in previous seasons: N.Z. BUTTER (Tons). 1928- 3929- 1930r, >. 29 ' 30 - 31. December 4,417 6,215 11,000 January . . 9,963 9,832 12,000 14,880 16,047 23,000 N.Z. CHEESE. December . . 3,331 5,465 10 000 January .. 13,276 13.786 12,857 16,007 19,251 22,857 GRADINGS AND STOCKS (in tons). 1928. 1929. 1930 Butter graded— During November 12,300 13,801 13,540 4 moB. ending November 30th 31,000 34,013 35,491 Butter in store— End November 5,250 6,158 9,788 Cheese graded— During November 12,150 11,990 12.139 4, mons. ending November 30th 26,300 24,701 27,447 Obeese in store end November .. 6,550 6,888 8,708 k 0 seen from the abovo"quotations, New Zealand butter showed a sharp decline throughout November, but at the beginning of this month an improvement took place, and the latest advices are to the .effect that tho market has firmed. W. Weddel and Co., Ltd., cable us that the pressure to make sales of Australian "Kangaroo" brands at as low as 92s c.i.f.e. had a great deal to do with the weakness of the market generally. The reduction of the retail price of Kangaroo to Is 2d, and other Australian brands to Is, greatly assisted the consumption and gave the trade renewed confidence and caused them to buy more freely to protect their stocks as against the hand-to-mouth policy previously adopted. This had a firming tendency all round, and prices for both Australian and New Zealand butters advanced from 4s to 6s per cwt. Our principals state that they anticipate a firm market until Christmas. Stocks. The stock position of New Zealand butter in the United Kingdom is sound, and at the end of the first week in December New Zealand butter in stores showed 3626 tons, as against 8700 tons for the same period last year. It is interesting to note that the deliveries from store during tho past month have been exceptionally good, a total of 7700 tons having been delivered ex stores during the last four weeks as compared with 4700 tons in the previous year—an increase of 3000 tons for four weks, which must be considered very satisfactory. Unfortunately, New Zealand is feeling the loss of the Canadian trade thin year, owing to an adverse Customs tariff as compared with Australia, and we would draw your attention to the effect of this on the estimated arrivals of butter in the United Kingdom during December and January, as compared with the two previous seaaons. The foregoing figures show that 7000 tons more of New Zealand butter should arrive in the United Kingdom, during December and January than in the same two months of last season. It Is therefore difficult to forecast how the market will stand up to these heavier arrivals after the trade have covered their Christmas requirements. Forward Buying. Early in November there was some enquiry on account of forward buyer*, and offers were made for fairly large parcels a; about IOJd f.0.b., December-January shipment, but factories generally at that time preferred to odopt a policy of consignment. As th* market weakened, buyers' ideas diepped considerably and apparently quite a number of sellers became nervous, • result that considerable business was done at round about 10 l-16d to 10|d for De-cember-January and February shipment. With the improvement in the spot market, linyfis advanced their limits &nd;,ioßei* wert made up to 10 7-16 d, but Seemed to become more optimistio and very little business is reported at the advance. UNSALTED BUTTJ3E. The market for unsalted butter has again shown its uncertainty by a sudden drop during the month from 149s to 118s. There are very heavy quantities of Australian and Argentine unsalted butters coming on the market and this, together with an increased make in New Zealand, has resulted in a considerable drop in the premium for ULftalted. v It is interesting to note that during November, 578 tons of - unsalted butter were manufactured in Now Zealand as against 231 tons in November, 1929. CHEESE. Our principals state that during November, quotations were nominal, as owing to the heavy stocks of Canadian on spot and the fact that most of the New Zealand fiesh landed required a certain amount of maturing not very much business had been dene. Buyers realised that the quoted prices for cheese were out of proportion to butter. _ However, notwithstanding the drop in prioes to the vicinity of 60s, th* demand continued to be disappointing, but later advices show that there is a better enquiry at the lower prices, although W. Weddel and Co., /Ltd., state they do not expect any great improvement in the cheese market in the meantime. The estimated arrivals of New Zealand clteese In December and January show & substantial increase over the same period last season, • whilst the stocks unshipped in New Zealand are also considerably heavier. DAIRY INDUSTRY. INCREASED PRODUCTION. -The Dairy Division of the Department of Agriculture reports an increased production on a butter-fat equivalent of 6.09 per cent, of butterfat for the four months of the export season ended November 30th, Tho gradings of butter and cheese for export for the period in review compare as follows: 4 Months 4 Months 1930. 1929. _ tl _ Tons Tons Butter, salt .. 84,264 33,472 Butter, unsalted .. 1,227 541 Total •• 35,491 34,013 Cheese, white .. 18,534 15,827 Cheese, coloured .. 8,913 8,874 Total .. 27,447 24,701 Increase in butter, 1930, over 1929 period, 4.34 per cent. Increase in cheese, 1930, over 1929 period, 11.11 per cent. Gradings for the month of November only were 13,540 tons butter, including 231 tons unsalted; and 12139 tons cheese, of which 3941 was coloured, the remainder being white cheese.