COMMERCIAL ITEMS

Hokitika Guardian, 8 September 1927, Page 4

COMMERCIAL ITEMS

CHEESE AND BUTTER. PROSPECTS (Australian & N.Z. Cable Association.) LONDON, Sept. G. Market inquires indicate much better prospects for New Zealand dairy produce in tho coming season with higher prices likely, will largely compensate for last season’s losses. Canadian cheese exports to Britain during the summer are estimated at twenty-five per cent below 192 G and tho lowest for 35 years, owing to the diversion of big supplies of milk and cream and sales of larger numbers of dairy cattle to United States. As Britain depends chiefly on Canadian and New Zealand cheese. New Zealand is likely to monopolise the British market in the coming season with correspondingly higher prices. A portion of New Zealand’s output has already been sold in Britain at moderate prices but a majority will reap the real benefit from the improvement. Canadian cheese advanced ten shillings to 100 s per ewi in the past week. Shrewdest London importers point out it is impossible for Canada to make tip the deficit of two years before the closing of the season and may he compelled to import New Zealand cheese next winter. British importers have already received inquiries from the 1 nited States, which may not materialise the demand for supplies, hut conveys an indication of a possible winter shortage all over North America. The butter position is not yet defined, but unless the Australian condition improves, New Zealand s early months of production should realise relatively high prices It is noteworthy that already considerable quantities are booked for Canada, but it is uncertain whether the United States is likely to import butter during the winter.

Well informed circles foresee the present conditions will end in a worldwide agricultural depression, and brighter prospects for dairying.