COMMERCIAL ITEMS

Hokitika Guardian, 16 January 1928, Page 1

COMMERCIAL ITEMS

DAIRY PRODUCE. The following are the top London quotations for the past six weeks, Dee. 2nd to Jan. 7tii:— Danish butter. 1015 s, 1 Otis. 182 s. |s(is. IS Is. IS Is. N.Z. unsnllcd. ISSs. ISS s . Ids. 1 «2s, 170 s. ltiSs. N.Z. salted, 1725. 170 s, KiOs. 100 s, lots. 10 Is. N.Z. cheese, white. I (Ills, 05s. 02s, 01 s, 02s, 01s. N.Z. cheese, coloured. 08s, 01s, 01s. 90s. ‘Ms. ols. Rutter. —All descriptions have shown a steady fall throughout- the month and Messrs AY. Weildel and Co. Ltd. cable that this has been brought about bv a variety of circumstances, namely: fl) Reduced home consumption, 1 2) Rapid recovery ol Australian production, with offers “ Kangaroo ” brand 1.51 s c.i.f., which was made possible by the increased bounty paid for export, under the Patterson scheme. (3) Heavy shipments of New Zealand butter to arrive and to be shipped during Deeemher-January. Cl) Increased production in New Zealand. (5) Decreased export to the Continent, owing to a prolonged season there and in Ireland.

The market actually fell to lolls for finest and the retail price Is 7d per 111. At this level, the large multiple shops purchased heavily and this, together with the increased consumption owing to the lower retail juice and colder weather on the Continent, caused a rapid recovery to ltlls at which level we look for a steady market during .lanuarv.

There lias lieen active buying in the United Kingdom lor January-I’ehriiary shiuniont from New Zealand at Is 3jjd f.0.b.. but Canada appears to be satisfied for the present on the Atlantic Coast, although several recent sales are reported to Vancouver. Production.—The output of butter again constitutes a record for the month of December and for the ti\e months ending December Jlst. Cheese shows a slight decrease for December, but for tile live months is still 12J5 tons ahead of the past season.

Cheese.—Tt is interesting to note the fall in the iiroduetion of Canadian cheese during their last season, estimated at fully 300,009 cheese, the reason being given that both milk and cream are being used in othei diiections. Milk in the coudenseries and cream in the manufacture of ice cream, whilst a large quantity of both milk and cream i> being transported over the border to the United States ol America. This shortage had a beneficial effect oil the values of our New Zealand cheese, and largely influenced the steady market in XovenibtV. hut with the heavier arrivals from Now Zealand during December, the market weakened considerably and prices fell from 100 s to 92s for white, and from 9?s to 91s for coloured. The reduction of the retail rate to Is per lb has had the desired effect and the market closes firm and should remain steady during the month. The only offers reported f.o.b. for January make, and to end of season, are on the basis of 8d nett f.0.b., which is well below the parity of to-day’s London spot market.