DAIRY PRODUCE

Hokitika Guardian, 23 February 1928, Page 1

DAIRY PRODUCE

GOOD FORWARD DEMAND. According to the latest review issued by Messrs A. H. Turnbull and Go., agents for W. Weddcl and Co. Ltd.. London, the market position for butter and cheese has definitely improved. The report quotes the following top London quotations:

rrom tne aiKxvo ligiirc.s, , > proceeds tlio report, “it will ho seen that the hatter market lias fluctuated rather considerably during the month. The fact that such heavy .shipments were afloat and the report of increased grading in New Zealand and Australia had the effect of depressing the market very considerably. and although finest hut ter was sold at as low as 1.32/-, speculators did not show

’ * ojiuvuhiujis UIU 11 (J L .SNOW any interest. The change was .brought about hv the news ot continued dry weather in New Zealand, and the faet that stocks in the United Kingdom were very light, with anticipated serious decrease in February manufacture. These factors have caused an active demand and the market has firmed rapidly, present quotations being from 162/- to 1(56/- for salted butter. The position is now strong and we anticipate a good market throughout February. FORWARD DRYING. “There has been a good demand for forward shipments during February and March, and buyers are prepared to pay as high as 1/4,J- per lb, f.o.b. CHEESE. “Cheese prices fluctuated two or three shillings during the month and there has been a steady demand.* in spite of the fact of the very heavy shipments ot cheese arriving , and afloat. Messrs AY. AAcddel and Co. Ld.. cable that they anticipate a good market for cheese during o ,Felwuary. and this is borne out hv forward buyers operating freely at 81d f.0.b.. equal to 93/- on the market. “The grading figures show that although there is a slight i ncrea.se in I both butter and cheese for -Januarv gradings, this by no means compares with the increase in production during November and December. Unless copious rain trills very soon in the dairying districts, it is apparent that our February gradings will lie much lower , and our production from now on will probably fall far below hist season’s ] figures. “Most interesting, however, are the ligiu-es showing the stocks of butter and cheese in New Zealand as at fllst. Tanuarv. as comparer) with last season.

| BITTER. Jan. 13, 20, 28 Fob. 4, 11. Danish 176/ 174/ 172/ 180/ 184/ N.Z. Unsalted . .. 162/ 160/ 160/ 168/ 170/ ’3 N.Z. Salted .. . 158/ 154/ 156/ 164/ 166 / CHEESE. r. Jan. 13, 20, 28 Fob. 4. 11. X.Z. White .. • 91/ 91/ 90/ 93/ 93/ X.Z. Coloured . . 91/ 91/ 90/ 93/ 93/

BUTTER GRADINGS (In Tons). , 1926. 1927. 1928. During January 8.6(H) 10,058 10.368 Six months to Jan. 31st 41.350 45.673 51.856 In store. Jail. 31st. ... 0,050 12,500 CO 00 CHEESE GRADINGS. 1920. 1927. 1928. During January 10.400 10,973 11,473 Six months to Jan. 31st 43.850 44, SI 2 46.582 In store, Jan. 31st. ... 9,400 12,000 7.997