THE DAIRY INDUSTRY

Hokitika Guardian, 17 March 1928, Page 1

THE DAIRY INDUSTRY

WILL AUSTRALIA BUY? I In their latest review of me dairy j produce markets, A. 11. Turnbull and Co., representing TV. Wedded and Co., London, reports as follows: The following are the top London quotations : Feh. Feh. Mel. 18. 25. 3. Danish Butter ... ISO/ 192/ 200/ X.Z. resulted ... 170' 172 178/ X.Z. Salted ... 160/ 108/ 170/ Quiet. Firm. Firm. N.Z. Cheese, white 05/ 95/ 97/ N.Z. Oioose coloured 95/ 95/ 95/ Firm. Steady. Firm. As shown above, prices have advanced 10s per cut in butter and 4s per cwt in cheese, and, moreover. "Market linn ” is the latest report to hand. This movement lias been brought about Milely by tin* statistical position, the etsimaied quantities of all makes m store ip the United Kingdom being only j .'.SI 1 tons of butter and 3475 tons ol Australian a ml New Zealand cheese, whilst shipments are already showing signs of falling oil', consequent upon the reduction of gradings. Forward buyers of butter and cheese have again been very active, and it appears as though many of the larger multiple shops have decided to cover their future requirements. Sale of finest butter commenced at. Is ltd and then rose to Is -i/Jd, at which figure some fairly heavy sales have been made and even Is 5d is reported for local trade. More activity, however, has been experienced in cheese, sales opening for January to end of season’s make at B.ld, rising at short intervals to 9d per lb. at which price sales have been oHeeled, bur as there are large sellers at this figure, it is doubtful if there will he sufficient forward buyers to absorb the quantity now offering. On Tune 1 next, it is expected that the duty on butter imported into Australia’ will he increased by 6d per lb, and this will certainly curtail, il not altogether prevent, further sales for that destination. It remains to lie seen whether buyers will cover, requirements from Xew Zealand for export prior to .1 one 1. On the other band, Australia lias bad good rains and responds very quickly, so that it is probable that their late season production may he fully sufficient to cover their local requirements. Turning to the grading figures given below, wo find our butter production for February has fallen by 3100 tons as against January of this year, and is lower than February, 1927, by 1100 tons, equal to a 12 per cent fall. Tlie total gradings for seven months, ending February 29. still show an excess over the same period last year of 4950 tons. In stocks stored in Xew Zealand, however, there is a drop ot over 51 per cent, being now 0371 tons ns against 13,800 at- the end of February, 1927. Certainly, last, year there was a tendency to hold back later .shipments on the part of some factories. In cheese, the gradings for the month ,how a decline of nearly 7 per cent, as compared with February. 1927, whilst the quantity stored in Xew Zealand is lower by 32 per cent. GR ADINGS (Tn Tons). 1920. 1927. 1928. Butler graded during February 7.30 b H.OoO 0,951 Butter graded 7 mens.. ending Feb’y 48,050 53.800 58,.50 Butter in store Feh. 29 1928 9,150 13,800 6.371 Cheese graded during February ... 8,850 9.000 8,942 Cheese graded 7 mens., ending Feb’y 52,700 54,400 55,050 Cheese in store Feb. 29. 1928 13,000 13,250 8.988