THE BUTTER MARKET.

Shannon News, 1 March 1927, Page 3

THE BUTTER MARKET.

AVERAGE PRICES REALISED. The Dairy Produce Board reports:— ' Sales in London. —For the fortnight ended 18th February, 1927, the following quantities of dairy produce under control of the Board have been sold: Butter, creamery, 45,549 boxes, average price realised 173 s 6d. Cheese. 24,140 crates, averaging 935. Butter graded up to the end of October has not yet all been sold, although some of the November gradings have been sold. This is due to the fact that some steamers carried produce belonging to the first pool as well as produce graded in November. Further, while the loading of "the final October gradings was completed approximately at the same date at all ports, the steamers carrying this produce Varied considerably in their final sailing dates. PAYMENTS BY BOARD. The Dairy Board has decided to mal>e a further advance payment of £90,000 to dairy companies on March 1 in respect of the first butter pool. This pool covers produce graded between September 1. and October 30 last, totalling 404,839 boxes. Of this quantity, 75 per cent, has been sold. The advance to be made make the amount advanced on this produce so far Is 2sd per lb. The final realisation on the pool will depend upon the return for the unsold balance of approximately 90,000 boxes. A further payment upon cheese will be made as soon as the surpluses from realisations constitute a divisable amount. This means that progressive payments will be made as surpluses permit, and suppliers will not have to •wait till the end of the pool for further payments. The extra production for the first half cf the season over the corresponding period last year is 4277 tons of butter anicl 934 tons of cheese. On to-day's approximate prices, this represents an extra return of £BOO,OOO to the Dominion over last season.

The advance value of January's production as distributed to suppliers through dairy companies on February 20 was approximately £2,000,000, allowing for grade premiums. Of this .sum £1,297,000 is in respect of butter and the balance in respect of cheese. LATEST QUOTATIONS. Messrs Dalgety and Co., Ltd., report having received the following cablegram from their London House under date of the 24th insta/f:— Butter.—Australian butter: Market quiet; New Zealand very little doing. Wo quote Danish 188 s to 190 s (1925); New Zealand Dairy Board minimum price "finest" butter 168 s (1765); New Zealand Dairy Board minimum price first grade 166 s (1745); finest Australian unsalted 166 s to 168 s (170 s to 1725); salted 162 s to 164 s (164 s to 168 s). Cheese.—Market quiet. We quote New Zealand Dairy Board minimum price "finest" white 92s (925); coloured 92s (925); New Zealand Daiiy Board minimum price first grade cheese, white 91s (91s); coloured 91s (91s); Canadian spot cheese white 94s to 100 s (90s to 100 s); coloured 94s to 100 s (96s to 100 s).