DAIRY PRODUCE

Hokitika Guardian, 4 February 1927, Page 1

DAIRY PRODUCE

A REVIEW. Butter: New Zealand controlled price for finest has remained steady throughout the month under review at. 1745, whilst Danish has fluctuated from 186 s down to 176 s and up again to 184 s. New Zealand stored butter has also moved from 168 s down to 164 s and again up to 168 s. Although the prieo for new season’s finest has remained steady at 1745, stocks of new season’s finest and first grade are both mounting tip in London. The fact that for the four weeks up to the 7th January, the Control Board reported sales on an average of 30,000 boxes weekly, whilst front the 7th January

to the 21st Sales dropped to an average of 17.000 boxes weekly, is significant. Our estimate of new season’s controlled butter on band in London as at the 31st January is 260,000 boxes. This accumulation lias taken place in spite of the fact that arrivals of Xew Zealand butter in TJ.K. for this month are 235.000 boxes less than the corresponding month last year. In view of the fact that estimated arrivals during February and March are considerably greater than last year, the immediate future of lnitter, as far as stocks are concerned, is not bright. A very much better demand for New Zealand finest and first grade will have to set in to prevent a fall in prices and the question arises, w,ll the Control Board be able to maintain 1745? The Danes have been able to advance their quotations 8s during the past week and it is hoped that with this rise in Danish prices that buyers will pay more ■attention to New Zealand and that sales will increase. Latest cables, however, advise that Control butter is accumulating rapidly, although there is a good demand for second grade butter, which is in short supply. Cheese: The market has remained steady and the average weekly sales show an increase to 18.000 crates. Our estimate of controlled stocks in London unsold at the 31st January is 90.000 crates. However, from the beginning of February the stocks of Canadian cheese available will be very limited and increased sales of New Zealand should result. Messrs AV. Weddel and Co., Ltd., cabling on the 29tli January, state that there is a steady demand for cheese at control prices, especially for first grade. This is satisfactory. but shows that buyers are not inclined to pay 'a premium for finest,