THE BUTTER MARKET.

Shannon News, 12 July 1927, Page 4

THE BUTTER MARKET.

LITTLE MOVEMENT BUT SHARP RISE IS EXPECTED. In their'monthly report on behalf of Messrs W. Weddel and Co., Ltd., Loudon, Messrs A. H. Turnbull and Co. state — ■ The following are the quotations for the past monjjg

Butter. —-From the above you will see that there has been little movement in prices and that the rise in values during the first half of June was quite temporary. It was anticipated that on the abandonment of compulsory con. trol that some improvement in market conditions would materialise, but this movement met with severe competition from the exceptionally heavy Northern Hemisphere production aiid sales of Colonial descriptions were sloav. Weather conditions in the North continue to be favourable to production the make is noAV nearing its peak. Further, there has been but very limited speculative buying up to the present, but our cables report that a reneAved interest is anticipated in the near future. Looking at our chart and the trend of prices during the past five years, you ably see a short drop in London values during June or early July, coinciding Avith the Northern peak of production, the ascending line then varies in grade, but records "shoAV the rate of adA r auee to depend very greatly upon Aveather conditions, and the resultant extension or curtailment o.f the season in the Northern Hemisphere. Taking these facts into consideration

and with the present strong statistical position, we are of the opinion, that prices will show marked improvement in the near future, with a possible sharp rise immediately there is any pronoun* ced decline in Northern production.

Gheese. —The season in Canada has been very backward and the absence of heavy offerings from that quarter during June, caused an upward movement late in May. This carried on till the middle of June, when the drop in butter prices not only'checked the advance but caused a sentimental fall in values. Messrs Weddel and Co. report to-day that consumption continues to be good and that they have a good opinion of the future. GRADING AND SHIPMENTS IN • TONS. Butter

June 11 18th "25th July 2 Danish butter 168/ 164/ 164/ 162/ Jf.Z.' unsalted 176/ 176/ 174/ 172/ N.Z. salted • 164/ 166/ 162/ 162/ N.Z. cheese— White 84/ 87/ 84/ 84/ Coloured _ 86/ 88/ 86/ 86/

1927 1926 Graded during June 1,360 740 11 Months ending June 71,066 62,213 In store, New Zealand 5,783 6,250 Cheese; Graded during June .. 1,548 1,362 11 Months ending June 76,113 , 73,829 In store in N.Z. .... 3,629 3,350