THE BUTTER MARKET.

Shannon News, 11 February 1927, Page 3

THE BUTTER MARKET.

A MONTH’S REVIEW. Messrs A. H. Turnbull and Co., Ltd., report: — Top quotations for the past n\ e weeks are as follows: 1 • Dec. 31. Jan. 7. 14. 21. 21). Danish butter — . 186/- 182/- 178/- 176/- 184/' N.Z. unsalted — . - 184/- 184/- 184/N.Z. salted — , , 174/- 174/- 174/- 174/- 174/N.Z. salted, stored—--168- 164/- 164/- 166/- 168/N.Z. cheese, white — 94/- 94/- 9.4/- 94/- 94/N.Z. Cheese, coloured—--94- 95/- 95/- 95/- 90/Butter. —From the above it will be seen that New Zealand controlled pi ice for finest has remained steady througnout the period under review at 1745, whilst Danish has fluctuated from 18bs down to 176 s and up again to 184 s. New Zealand stored butter has also moved from 168 s down to 164 s and again up to 168 s. Although the price for new season’s finest has remained steady at 3 745, stocks of new season’s finest and first grade are both mounting up in London. The fact that for the four weeks up to the 7th January, the Control Board reported sales on an average of 30,000 boxes weekly, whilst from the 7th January to the 21st sales dropped to an average of 17,000 boxes weekly, is significant. Our estimate of new season s controlled butter on hand in London, as at the 31st January is 260,000 boxes. This accumulation has taken place in spite fo the fact that arrivals of New Zealand butter in U.K. for this month are 235,000 boxes less than for the corresponding month fast year. In view of the fact chat estimated arrivals, during February and March are considerably greater than last year, the immediate future of butter, as far as stocks aie concerned, is not bright. A very much better demand for New Zealand finest and first grade will have *to set in to prevent a fall in prices and the Question arises, will the Control Board be able to maintain 1745? The Danes have been able to advance their quotations 8s during the past week and it is hoped that with this rise in Danish prices that buyers will pay more attention to New Zealand and that sales will increase. Latest cables, however, advise _tha. Control butter, is accumulating rapidly, although there is a good demand for second grade butter, which is in short supply. . Cheese: The market has remained steady and the average weekly sales show an increase to 18,000 crates. Our estimate of controlled stocks in London unsold at the 31st January is 90,000. crates. However, from the beginning of February the stocks of Canadian cheese available will be very limited and increased sales of New Zealand should result. Messrs W. Weddel and Co.,JLtd., cab-ling-on the 29th January, state that there is a steady demand for cheese at control prices, especially for first grade. This is satisfactory, but shows that buyers are uot inclined to p~y a premium for finest. ESTIMATED ARRIVALS OF N.Z. PRODUCE IN U.lv. IN TONS. Butter. Cheese. 1 1926 1927 1926 1927 January 13,391 7,506 12,963 10,700 February 5,308 6,651" 5,371 10,580 March DAIRY PRODUCE PRICES. Messrs Dalgety and Co., Ltd., repoit laving received the following cablegram from their London house unde; , date of the 3rd inst: Butter. —Danish has been selling forward, but now demand slow', and f.o.b. prices reduced to-day 6/; meantime Australian has been quiet, while there has been hardly any demand for New' Zealand since the beginning of Decern her, excepting second-hand sales below current quotations. We quote Danish 188/ (180/); New' Zealand finest 174/ (174/); Ist grade 172/ (172/); Australian finest unsalted 172/ to 174/ (170/ to 174/);salted 168/ to 170/ (166/ to 170). Cheese. —New' Zealand market slow, Canadian steady. We quote New' Zealand finest white 94/ (94/); coloured 95/ (95/); finest grade white 93/ (93/); coloured 94/ (94/); spot price for Canadian white and coloured 94/ to 100/ (94/ to 100/).