DAIRY INDUSTRY

Rotorua Morning Post, Volume 2, Issue 317, 2 September 1932, Page 2

DAIRY INDUSTRY

BUTTER AND CHEESE REYIEW OF RECENT QUOTATION AND THE MARKET INDICATION S. N.Z. BUTTER FIRM. During the latter part of July London prices for New Zealand butter weakened by about 2s a cwt., but in the last ten days have advanced again -to 109s to 110s, with the rnarket still firm, states the monthly market review of Amalgamated Dairies, Ltd., in the September issue of the Exporter. The wealcening in New Zealand prices during part of July was probably mainly due to the heavy drop in Danish from 107s f.o.b. to 94s f.o.b. at that time, as the Danes found it necessary to reduce prices substantially to clear heavy shipments. ilt is satisfactgry to note that the stocks of New Zealand butter in the United Kingdom continue much lower than last year. The total stocks of all butters in the United Kingdom on August 5 were only 23,500 tons, being 2800 tons less than at the same date last year. As the arrivals during the next six weeks will not be excessive, the position looks fairly sound for the immediate future. However, as far as next season's output is concerned it must be said that there is good reason to fear that the heavy quantities of butter which will be marketed in the British Isles will again depress prices to very low levels, unless in the meantime some material benefit results from the Ottawa Conference. Australian production is small at present, owing to wintry conditions in many parts of the country, but it is understood that there has been ample rainfall in most dairying centres and a heavy production is expected. Prices and Stocks. Canadian butter stocks are lower by over 20 per cent. than at this time last year. To-day's wholesale price at Montreal is 182 cents. London weekly pxuces, deliveries and stocks are as follows (last year's figures in parentheses) : — Week ended July. 22. — N.Z. finest, 106s to 107s (116s); Danish, f.o.b., 107s (110s); deliveries N.Z., 1570 (1247) tons; stocks N.Z., 5300 (5728) tons. Week ended July 29. — N.Z. finest, 105s to 106s (112s); Danish, f.o.b., 94's (106s); deliveries, N.Z., 1290 (1200) tons; stocks N.Z., 5062 (6100) ) tons. Week ended August 5. — N.Z. finest, i 106s to 107s (108s to 111s); Danish, j f.o.b., 93s (110s); deliveries, N.Z., \ 1150 (1231) tons; stocks N.Z., 4312 \ (7481) tons. Week ended August 12. — N.Z. fin- ] est, 107s to 110s (115s to 116s); j Danish, f.o.b., 98s (120s); delivex*ies I N.Z., 1340 (1775) toxxs; stocks N.Z., i 4000 (7020) tons. | Average weekly delivery, 1338 tons. ■ Average weekly delivery previous \ nxonth, 1514 tons. 1 Low Cheese Prices. As anticipated at the time of writ- ] ing our last report, cheese prices in s London receded a shilling- or two from ] the level reaehed in the first week in ] July. Throughout the last four weeks j ! there has been little movexxxent in the \ price of coloured cheese, which now \ stands at a heavy discount of 4s to 5s \ coxnpared with wlxits, the latter having l firmed up again at 61s to 62s (to- , day's pxfice). The price of cheese is still held in check by the very low prices ruling for other foods. The following table shows the course of the xnarket during the last nxonth. — Week ended July 22. — Market slow; white 58s to 58s 6d, coloux-ed 56s to 57s; last year's white 60s to 62s. Week ended July 29. — Market stoadier; white 56s to 57s, coloux'ed 56s; last year's white 60s to 61s. Week ended August 5. — Market steady; white 57s to 58s, coloured 55s to 56s; last year's white, 60s to 61s. Week ended August 12. — Market j firm; white 59s to 60s, coloured 55s j to 57s; last year's white, 61s to 63s. Milkpowder prices are unchanged. j All the px'incipal casein producing \ countries appear to be heavily overstocked, and as a x*esult some makers i are offexung at under the cost of pro- - duction. S