PRODUCE REPORT

Hokitika Guardian, 15 February 1927, Page 4

PRODUCE REPORT

The following are tho top London quotations on February 5. Danish butter 188 s; New Zealand, uusalted, 184 s. salted. 1745. stored iOSs. Cheese, white 84s, coloured 955.

Rutter : The only (alteration recorded

since our last report is an advance of 4'. per cwl, bringing the premium U) Ms. line result of this greater margin lias been a slightly better demand for New Zealand, ~ The Control Board advised avenge sales of New Zealand butter at 22,0ik)

Fixes per week for tlic two necks cndill.<_»; 4tii February, which is a weekly increase of 4.OCK) over the previous fortnight. Arrivals for the month, from the Ith February onwards, amount to /approximately (>().()(X) boxes per week, .so that it is (divious that a. very much better demand tor New Zealand butter u ill have to lie created to prevent the continued accumulation of stocks. Our estimate of unsold new season's controlled stocks in London, as at the -Ith February, is approximately 232,000 boxes. From the. figures we give .at the loot of this report, it will he seen that production ol butter tins season shows a considerable increase on last year, and is almost up to the record season of 1925. The stocks of butter in store at the 31st January, are very much heavier than last year. Shipments from now on must, of necessity, he proportionately greater than they have been in the past. The latest reports from Australia are that production has again increased and that average quantities will he exported during the next two or three months.

Cheese: Our estimate of cheese stocks on the 4th February in London is 80,000 crates. "I no Control Board report, however, that cheese sales during the fortnight averaged approximately 1,000 tons per week. Although there are heavy arrivals of New Zealand cheese during February, we anticipate that the sales will increase very considerably and in view of tbe fact that from now until about the end of June, Canadian cheese will be in very scarce supply, tlio present accumulation and also arrivals in the t near future, should bo cleared within the next mouth or so. I The production this season to the olid of January is a record over all previous velars and as stocks in New Zealand at cho 31st January amounted to some 12,500 tons, there- i.s a possibility that our arrivals from July onwards, may he too heavy, and coming into competition with the early arrivals from Canada, a weakening in the market may then occur. In the meantime, however, cheese quotations should remain fairly steady.