THE BUTTER MARKET.

Shannon News, 15 March 1927, Page 3

THE BUTTER MARKET.

LONDON MARKET REVIEWED. Messrs A. H. Turnbull and Co. report: The following are the top market quotations for the past five weeks: February March

Butter. —Although weekly sales were being maintained at only 23,000 boxes instead of the 60,000 necessary to clear arrivals, the Control Board advanced prices on February 12th by 2/ per cwt. This move did not stimulate buyers’ . interest in New Zealand butters and stocks continued to accumulate. A reduction of 8/ on the 20th February failed to increase sales and a further drop in prices of 4/ on the sth March ha 3 now been made. Although arrivals if Now Zealand, Australian and Argentine butters in the United Kingdom during January and February show a shortage on last year of approximately 12 000 tons, New Zealand controlled stocks continue to accumulate, our estimate unsold on 28th February being 350.000 boxes, whilst arrivals in March and April will be’approximately 80,000 boxes weekly. In view of the heavy ! stocks that have accumulated and the fiict that arrivals in the near future show a weeKly surplus "of about 50,000 over average weekly sales, buyers are not inclined-to stock up anti it will . probably be found that reductions to date are not sufficient to influence large sales. A reduction in unsalted quotations to 170 s is announced to-day. Cheese. —The position is disappointing and average weekly sales have declined. Instead of the anticipated iuercaes in demand, buyers are not show ing much interest and stocks are accumulating. Our estimate of controlled cheese stocks in London on 28th February is 140,000 crates, whilst 50 per cent of March and April arrivals will hav<i to go into store unless sales improve. It is to be hoped that the reduction made yesterday to So/ w»i. tempt buyers to operate mere frech In view of the heavy stocks held in Aew Zealand, which will be shipped ±ate: in the season, it is imperative that anv accumulation of stocks in London and all arrivals should be cleared du- - ring the next two or three months before Canadian early make comes on the market. , , , ~, The figures set out< below show that production of both butter and cheese to date is well above last season s. We draw particular attention to the fact that there are nearly 14,000 tons of butter still in store in New Zealand. BUTTER (Tons). 1925 1926 1927 Gradings in Feb. 8,150 7,300 8,082 Seven months to , end of Feb. 566,150 48,650 53,800 In store 28th Feb. 8,650 9,150 13,811 CHEESE (Tons). Gradings in Feb. 8,650 8,850 9,600 Seven months to ... end of Feb. 50,450 52,700 54,400 In store 28th Feb. 8,250 14,000 13,224 * . M «-ri it rr V»T» ATtTTm? T^T

ARRIVALS OF N.Z. PRODUCE IN UNITED KINGDOM IN TONS.

12th. 19th. 26th. 5th. 9th. Danish butter 186/ 192/ 194/ 192/ 186/ N.Z. unsalted 170/ 184/ 186/ 182/ 174/ N.Z. salted 164/ .174/ 176/ 168/ 164/ N Z. cheese, white 85/ 94/ 92/ 92/ 88/ N.Z. cheese, coloured 85/ 95/ 92/ 92/ 88/

1925 1926 1927 Butter — (Estimated) March . 8395 5462 82UI April May • • • . 8657 6333 8250 . 6647 4296 6280 Cheese- — [ March . ,9530 8868 9358 j April .. May ■ i . 9744 . 8039 8668 7903 f)902 6957