DAIRY PRODUCE

Hokitika Guardian, 13 July 1929, Page 2

DAIRY PRODUCE

Thte following are the top London quotations for the past five weeks: Danish butter: June 7th. 1745; June 14th. 1735; June 21st. 1725; June 28th. 178 s; July sth. 1775. N.Z. .unsalted/ butter:—June 7th. 1725; June 14th. 1725; June 21st. 170 s; June 28th. 1725; July sth. 1725. N.Z. salted butter:—June 7th. 1725; June 14" th. 170 s; June 21st. 170 s; June 28th. 1725; July sth. 1735. Cheese (white):—June 7th. 935; June 14th. 935; June 21st. 935; June 28th. 925; July sth. 925. Cheese (coloured): —June 7th. 955; June 14th. 955; June 21st. 955; June 28th. 955; July sth. 945.

BUTTER. The market has remained steady throughout the month. A slight check occurred after the first week, caused by the increased Continental production at the peak of their season and which, Messrs W. Weddel and Co. Ltd. cable, more than countered the seasonal decline in shipments from New Zealand, Australia, and the Argentine. In the meantime there has been some accumulation of stocks in London, but not sufficient to afFect the market and our Principals lock for a steady market at round about present values, usually at this period of the year, we have enquiries for forward offers, either for the United Kingdom or in recent years for Canada, but although Canada purchased a limited quantity early in June at round about Is 5d f.o.b buyers later reduced their limits to Is 4d §d, at which no businesss has been reported so far.

CHEESE. The market has been particularly steady during the past five weeks. The warmer weather experienced through the United Kingdom had the effect of increasing consumption whilst the high prices asked for Canadian cheese favoured the selling of New Zealand Cheddar. On the other hand, accumulation of stocks resulting in a lack of the speculative demand usually experienced at this period. The demand has, in consequence, not been

sufficient to absorb the heavier offerings made of released stocks and the market has weakened slightly to the extent of Is per cwt. Recent Canadian cables quote new season’s cheese at 86s. to 90s. oife being a decline of 6s. on former prices. With these factors before us, we cannot look for any improvement in the near future.