A BRIGHT CHRISTMAS.

Shannon News, 18 December 1928, Page 1

A BRIGHT CHRISTMAS.

DAIRY PROpUCE BUOYANT. RISE IN PRICES COINCIDES WITH INCREASED PRODUCTION. BUTTER UP TO 184/- ON LONDON MARKET. e The price at present being obtained on the English market for New Zealand butter (184 s per cwt.) is extraordinary for this time of the year,, and following upon a boutedus season, will be very encouraging to dairy farmers. The past two' weeks has witnessed a very active market for forward and spot butter, the price having increased 10s per cwt., and f.o.b. offers for December, January, February and ,March shipments have readied as high ; as Is 5d per lb (ISOs per cwt.) Very heavy sales have been made throughcut the North Island, but more particularly in the northern districts, where one factoiy sold as much as 1200 tons. The recent weakness from which the market has now recovered, is stated to have been caused through the normal seasonal increase in southern hemisphere production. But when buyers set out to fill their forward requirements, it was realised stocks in hand were extremely low, and, further, that November shipments for the United Kingdom were considerably reduced by New Zealand’s exportation to Canada and the United .States.

On top of this, production in New South Wales and Queensland diminished suddenly with dry weather- conditions, practically eliminating exportation from those States. The forward market in the United Kingdom at once took an upwaid turn, and a strong buyers’ movement resulted, sale 3 commencing at Is 44d f.o.b. for December 1o March shipment, rising steadily to Is od, at which price heavy selling took place. The spot market to-day ranges up to 180 s, with an upward tendency. The cheese market, on the othnhand, declined in the earlier period of the. month, but ha,s since hardened to 995, and the. latest' cable, advice was to the effect that the market was firm at that figure and prospects looked bright. There is an absence of forward offers, however. :It- is interesting to note that quotations for butter last December . never went higher then 170 s, that figure be-, lug reached on December 11th; The following, week the price had dropped to-150s to rise to 162 s on December 25 th. CHRISTMAS CHEQUES. Thousands of pounds will be disbursed to the farmers of the ManaWatu and Ilorowhenua districts next Thunclay (December 20th) which will equip them splendidly, to meet the extra de mands made by Father Christmas upon the purse. The average payout by blitter companies will be Is, 5d per lb, and Is 7d by cheese companies. Details are as follows: — Cheltenham, £36,300 (Is 54d, buttery Kairanga, £11,500 (Is scl butter, Is 7tl cheese). Awahuri, ! £16,90C (Is sd, butter). ■Manga whata, £3BOO (Is Dd, cheese). Makowhai, £2300 (Is 7d, cheese). Tokomaru, 1 £1938 (Is 7d, cheese). Rangiotu, £1328 (Is 7d, cheese). Levin; £23,000 (Is sd, butter). The increase in output that was ex oerionced earlier in the season \vaapparent last month as well!- The recent copious fall of rain will go a long way' towards keeping up the supply but it is generally'’ recognised that tin peak has been reached. Succeeding months, however, should see increase.i produetipn over the same months ol last year.