BUTTER AND CHEESE.

Shannon News, 17 February 1928, Page 3

BUTTER AND CHEESE.

FLUCTUATIONS DURING MONTH. BETTER DEMAND AND FIRMER MARKET. Messrs A. H. Turnbull and Co., representatives of Messrs Weddel and Co., in their seventh report for the dairy produce season, say: Tile folio ving are the top London quotations since our last report: January February sth. 13th. 20th. 28th. 4th. 11th. Danish butter — 184/ 176/ 174/ 172/ 180/ 184/ N.Z. unsalted — 168/ 162/ 100/ 160/ 168/ 170/ N.Z. salted—

164/ 158/ 154/ 156/ 164/ 166/ N.Z. Cheese, white — 94/ 91/ 91/ 90/ 93/ 93/ N.Z. Cheese, coloured — 94/ 91/ 91/ ,90/ 93/ 93/

From the figures above it will b-3 seen that the butter market has fluctuated rather considerably during the month. The fact that such heavy shipments were afloat and the report of increased gradings in New Zealand and Australia had the effect of depressing the market very considerably and although finest butter was sold at as low. as 1525, speculators did not show any interest. The change was brought about by the news of continued dry weather in Neiv Zealand, and the face that stocks in the United Kingdom were very light, with anticipated serious decrease in February manufaetuie. These' factors have caused an active demand and the market has firmed rapidly, piesent quotations being from 1(52s to 166 s for salted butter. The position 3s now strong and we anticipate | a good market throughout February. Forward Buying. —There has been, a good demand for forward shipments during February and March, and buyers are prepared to pay as high as Is 4|d per lb f.o.b. Cheese. —Cheese prices fluctuated two or three shillings during the month and there has been a steady demand, in spite of.the fact of the very heavy iliirimcnts of chjese arriving and afloat, j Messrs AV. Weddel and Co., Ltd. cable j that they anticipate a good market for cheese during February and this is borne out by forward buyers operating freely at Bfd f.0.b., equal to 93s on the market We would draw your attention to the grading figures which show that although there is a slight increase ,n both butter and cheese for January gradings, this by no means compares with the increase in production during November and December.. Unless copious rains fall very soon in the dairying districts, it »is apparent that our February gradings will be very much lower and our production from now on will probably fall far below last season's figures. Most interesting, however, are the figures showing tlie stocks of butter and cheese in New Zealand as at the 31st January, as compared with last season.

BUTTER GRADINGS. 1926. 1927. 1928, In January .. 8,600 10,058 10,308 Six months .. 41,350 45.673 51,856 in store 9,050 12,500 5,388

CHEESE GRADINGS. In January .. 10,400 10,973 11,473 Six months .. 43,850 44,812 46,582 in store 9,400 12,000 7,997

The quantities are in tons and the i\o last lines in the cheese and buttc. tables refer to the position at January 31st.