AMERICAN DAIRYING

Dominion, Volume 28, Issue 88, 8 January 1935, Page 12

AMERICAN DAIRYING

Low Butter Stocks The dairying situation in the United States is being watched with interest, owing to the possibility of that country augmenting domestic supplies from the London market. Stocks of butter in the United States are considerably below those of the previous year, the latest figures being 36,171 tons and 61,686 tons respectively. ' 1 In a review of the position as at November 27, the United States Department of Agriculture sta'ted : “An unusual situation exists this autumn with respect to dairy production. The drought of last summer made for definite shortages of feed and pointed to probable decreases in production during the autumn and winter, but the resourcefulness of the dairy industry, particularly in the matter of feed utilisation and changes in feeding practices, as well as the generally favourable autumn weather which has prevailed, continue to keep the immediate future full of uncertainties. Just what the final effect of reduced feed supplies will be upon production during the remainder of this season is more or less a matter of conjecture at this time, although all evidence points to a low level of production this winter.” Huge Coal-Oil Works The construction of the coal-oil plant of Imperial Chemical Industries at Bil-lingham-on-Tees, England, is nearing completion, and it is expected that work will ibe started early this year. It is reported the new works are'to be on a huge scale. Their yearly output of oil is expected to be 300.000,000 gallons. Storage accommodation for the oil will be between 15.000.000 and 20.000.000 gallons. Storage plant is to be in five places, the largest of which will hold 5,524,000 gallons. Customs Exchange Rates Rates of exchange ruling at the announced dates of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department, when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked* : — Sydney Maru, Hong-Kong, dollars 20J Sydney Maru, Japan, yen 14 Canadian Britisher, Canada, dols. 4.84 s Golden State, Canada, dollars ... 4.86 Golden State, America, dollars .•. 4.95 Mama’ri—Continental exchanges as for November 6. Jute Market Prospects Anticipating better prospects for raw jute with higher prices, which have been since evident during the past few weeks, a London market report published toward the end of November stated: “There has been a steady rise in jute values. Interior markets in the jute districts in India are very firm, and sellers have recently been adopting a most reserved attitude. There are indications that supplies are being held back for higher rates, and though there are heavy stocks of the lower qualities in the Calcutta bazaar, which sooner oi - later have to be disposed of, there is so far no pressure to sell this inferior fibre. There are reliable indications that the quantity available of really good fibre this season is to be much less than generally anticipated, which may account for lhe reluctance of the growers to sell their stocks unless a much higher figure is paid than is possible at present. There has been a fair amount of buying done of the raw material by spinners on the Continent and in the United Kingdom, and the opinon has been formed that those consumers are much shorter of supplies than in recent years at this time. The German position is better than it was some little time back, mid this is reflected in tne marked decrease in the stocks of fibre n Hamburg. Shipment has also come n for a fair amount of attention from buyers in that country. Continental advices state that inquiry for yarns and cloth in plentiful, and a fair trade is being carried on. New York reported a quiet market.” Australian Price of Gold The price fixed by .he Common wealth Bank for gold, including jewellery, lodged at. the Melbourne Mint for the week ended December 28 was at the rate of approximately £7/19/7 ner standard ounce (22 carats), equal to a premium of 104.57 per cent. Payment is made according to the iisa-ny value of the gold. The price was sd. higher on the week. The price per ounce fine was fB/14/l. a rise of •‘il. on the week. Hemp and Tow Gradings The gradings of hemp nt Dominion ports during December, 1934, show a decrease of 710 bales, compared with December, 1933, while the quantity of tow graded also decreased by 357 bales. The

figures are ns Hemp follow: — Dee.. 1933. Bales. 2420 729 Dee.. 1934. Bales. 1710 342 Decrease. Bales. 710 387 Stripper slips 17 5