BUTTER AND CHEESE

Hokitika Guardian, 11 March 1924, Page 4

BUTTER AND CHEESE

The following are the London quotations for butter and elioose at 4th March :

N.Z. unsalted or salted, 186 s. Alar ket weaker.

Cheese.—N.Z. white and coloured—90s to 925. Alarket slow. Butter.—The spot market continues weak in face of the heavy arrivals of New Zealand butter. New Zealand shipments due to arrive in Alarch and April show a further increase and we do not anticipate any falling off in Southern Hemisphere arrivals 1 until the end of Alay. As it is possible that heavy Russian shipments may begin to arrive in June it is unlikely that any sudden recovery in the market will take place. Australia.—ln our previous reports if has been pointed out that Australian production has increased. The January shipments amounted to 6300 r.ous which is more than double their December quantity. The Australian local market has now fallen to 160 s. Argentine.—Shipments fur January are also heavier than any previous month this season. Cheese. —The heavy shipments of eli,lose are now arriving and in consequence Hie. market has declined rapidly. In our previous reports we have frequently drawn attention to the tremendous increase in New Zealand production and shipments and there will he no great reduction in shipments until May at the earliest. It. therelore, looks as though the cheese market will remain weak for some months to conic.

Statistics.—Figures show that New Zealand cheese production has increased by 11,200 tons up to the end ol February, whilst the shipments show an increase of 13,600 tons over last year. According to allotments of space the Alarch shipments of butter and cheese will he heavier than any previous month this season. Shipments from New Zealand in Alarch were:— Rutter (cwts) l. Q 0,000; cheese (crates) 160,000.