BUTTER AND CHEESE

Evening Post, Volume CXVI, Issue 24, 29 January 1934, Page 12

BUTTER AND CHEESE

; CONTINUE DULL ' MARKET POSITION ' : "Evening Post," January 29. ' Latest cabled reports of the New Zealand butter, and cheese overseas markets showed but little improvement during the past Veek, . The retail prices of New Zealand butter and cheese at 9d and 6d per lb; respectively are no doubt proving attractive and/ incidentally, popularising the produce—at a price. Deliveries • continue heavy, arid there is no doubt'about the in- , creased consumption, but last year's London.prices.at 79s to 80s per cwt for New Zealand finest salt butter, moderate as they were, are princely in comparison with those ruling today at 67s to 68s. • New Zealand cheese is cheaper in London than in New Zealand at 6d per lb .there compared with Is to Is 2d for "mature" or white cheese, and 6%d to 8d for coloured in Wellington.' Last year at this, time there was a scarcity of New Zealand coloured cheese, so that, it was quoted" at 58s' to ' 59s per cwt, compared with 45s 6d to 46s for white. Today white cheese is.quoted at 41s to 425, and coloured ; ,43s to 445, . \. ■ ■ ■ . ■ : Arrivals of dairy produce in the United Kingdom during March according to allotments .of space announced by the New Zealand Dairy Board will be as ■follows:—Butter, '372,000 boxes; cheese, 109,700 crates. The arrivals' during April will be:—Butter, 556,000 boxes; cheese, 152,700 crates. "A GRUELLING TIME" The Prime Minister (Mr. Forbes), speaking at Dunedin, said the New Zealand : dairy industry was - having a gruelling time, and the continuance of low prices was a-serious matter for the country and the1 industry: The policy of the British •■' Government was to bring .in planned marketing, by regulating imports and local production. The British Government held ■ thebelief; that that would increase prices. It would be a very seriouß matter for , the Dominion if it were forced to limit '..■' i is'production of dairy'produce, and the : reactions would. be felt in every branch o£ industry. That was why the Government was so anxious for a rise in dairy produce- prices. The Ottawa Agreement ' would prevent quotas being imposed for jhe next two years, but if, at the end of that time, prices had not improved, then regulation by quotas was almost certain to come. . .-..'.■. ■! MARKETS QUIET The New Zealand Producers' Co-operative Marketing Association's weekly cabled market report London dated January 26 is as follows:—"Butter, market quiet; New Zealand 66s to 67s per cwt; urisalted 72s to 745; Danish, 89s to .90s. Cheese, market quiet; New Zealand, white 40s to 41s, coloured 42s to 435." Dalgety. and Co. are advised by cable- ' gram from. Samuel Page and Son, London, January 26, as follows: —"Cheese, white 40s per cwt, coloured 425; butter, 67s to ,68S per cwt. ,Both markets are weak:" The Bank of New South Wales is advised," London, January 26:-r-Butter, 67s ' per cwt; cheese, white and coloured, 425; Joseph Nathan and Co., Ltd., haß received -the, following cable from Tren- , grouse 'and Nathan, Ltd., London, dated' January.27:— "New Zealand, butter, 66s to 67s per cwt. Cheese, white 40b to 41s per cwt., coloured 43s per cwt. Both markets very quiet." . . The New Zealand Dairy Produce Board is advised by the Australian Board that it. has fixed the minimum prices.at which Australian butter may be sold for forward shipment to the United Kingdom during this week at 7%d and TAd per lb, this being the same as for last week. These prices are the New Zealand f.o.b. equivalent of the Australian c.i.f.e. minimum prices ■ fixed. * ■ • . DAIRY PEODUCE PEICES r. StABILISATiON EFFORT • Efforts are being made in Australia towards stabilisation of tbfe dairying industry. From, the Commonwealth point of view, the legislative authority for the stabilisation schemers contained in. the Dairy Produce Act, which was passed by the Federal Parliament during the latter part of'last year. The proclamation bringing it into effect will be issued within the next few lVeeks. The.Dairy Produce Act provides for the regulation of the transfer of butter and cheese from one State to another. Its chief object is to ensure to all producers of butter and cheese a fair share, and not more than a fair share, of the advantages arid disadvantages of selling within Australia and overseas New South Wales, Victoria, ijmd Queensland, which; in the aggregate, produce approximately 90 and .80 per cent, of "the total output of butter and cheese respectively in Australia, have enacted' legislation under which a board will be established'ih each of those States to regulate ijje interstate, marketing of butter and cheese. It is doubtful whether South ': Australia* Western Australia, and Tasmania, will introduce. similar legislation. The Commonwealth Government indicated, however, that it would be prepared to give effect, by proclamation, to the Commonwealth legislation provided that the J?o)l among producers taken by the States which pass interstate legislation indicates that in those States where an : affirmative vote is cast the aggregate production of butter and cheese is not less ; .'• than 60 per cent, of the total Australian output,. • Five years ago Australia exported 45,000 tons of butter overseas. During the year ended June 30 last, the total reached 101,000 tons, of which 93,000 tons were sent to the United Kingdom. The value to Australia; of that export trade last yeai was : £9,270,000. This substantial increase of exported butter was'due partly to the expansion of the areas devoted tc dairying, especially in Queensland, and, . partly, to improvement in farm technique, to pasture. improvement, and fodder conservation and other factors. Apart from a valuable market for aboul 6000 tons in the East, the United King dom constitutes almost the only outlet foi Australia's exportable surplus, and yeai by year greatly increased quantities ol butter have been sent to that market Australia has not been alone in increasinj her dairying production. While Aus tralia in the last five years has increase* her exportable surplus by 56,000 tons New Zealand has increased hers bj 40,000 tons. Her only .worthwhile o«tlc ig also the.United Kingdom. Thus, froir Australia and New Zealand alone, Grea Britain receives nearly 100,000 tons of but ter'a year more than the quantity of fin years ago. ■ One important aspect of the nev fetabilisatidn scheme is the necessity fo: ensuring that the consumer is protecte( against any. unreasonable increase in th< Australian price above the additional cos at present brought about by the operatioi of the Paterson Plan. This possibility wil be controlled by means of the power vestei already in the Minister of Commerce witl regard to the fixing of export quotas Thus, if it were represented to the Mm ister of Commerce that the Australia! price was too high, he might conbeivabl; reduce the export • quota—and, in const quence, increase the amount available fo the Australian market—and thus force i reduction in price. STOCK AND SHARES. "PERRY AND DIGGES SMITH, Stoe Jt and Sharebrokers, National Ban Buildings (opp. G.P.0., Wellington; Members Wellington Stock Exchang< Cables and Telegrams "Ennesperry." S GEORGE NATHAN AND CO • Sharebrokers, 105 Customhouse Quaj Members Wellington Stock Eschangf Telegrams "B^ta," Wellington.