DAIRY PRODUCE

Hokitika Guardian, 18 September 1929, Page 5

DAIRY PRODUCE

BUTTER

London spot prifces show a steady iriiprovement rising during the pnpt four weeks from 172 s to 178 s. Latest advices are that the market js quiet, due no doubt to the lrgbpr; costs curtailing consumption. Chi the other hand, bookings for shipment to, Canada during September and tober are heavy and w ’dl greatly of-, feet shipments to. the United dom for these' months. .Messrs del and Co., Ltd., cable .that this is realised by larger the ed Kingdom who have'\ lately purchased heavily to'protect their Requirements during the 1 next three months. Further than that it is anticipated that new season’s sliipinejjtß from Australia will ‘be - later than usual. Under, these circumstances. Messrs Weddel and ,Co., Ltd., state they have a good opinion of the iparket and expect present prices ter be maintained and even slightly increased.-. ' . / . ' , , ."’/V [ Further buying -oh a f.o.hV' lnisU has taken place for September., ment at Is aid •to Is 5Jd, nhd fpr .unread October to - ’.March •at .Is but buyers " appear to hav;e filled ftye bulk of tlieir-Teqiuremerits for 4th# present' arid sales are teepniirig nitfre difficult to,'effect. ..‘Gradings .for Adjust- show ■an increas#- bf 3.5 ; per' c'qVii over last year. This,, however;'--is. >ipt ari •- increase in production, but • - the result of cheese’ factories- manufacturing butter, there being a -decrease, j<s butter fat basis of :production ;of' .14 1 per cent as against 'August,' 1928 ( ,-. .; , CHEESE.

Prices have advanced by 7s, per. qwt in the case of white cligese and, 1 4s in coloured, the ’ marginal;' diffefene^ ibetween Iwhite and coloured r beijtig mow only Is in favour of .• coloured,, This improvement lias been brought about by increased consumption, cide to favourable weather in the United Kingdom and also by the decling .in Canudian production. Extensive buying has taken place' from spot stocks but the market closes slightly weaker and the future deperids largely upon Canadian offerings . and releases of held New Zealand- cheese. We expect a steady .market. At. one time it looked as if 06 forward f.o.b. sales would be effected but. a limited amount of buying lias taken, place during the past two weeks on the basis of B*d f.o.b. for season’s make and 8&d to the end of '(December, Factories generally are .inclined to hold for., higher prices, and take the risk of consignment.' 'lt is', interest-, ino- to note that buyers in'most cases are showing a distinct preference to full cream cheese when buying in a forward basis and this, no -doubt-., .will continue to be the case, until the quality of New Zealand standardised has been fully tested.