Money and Markets

Sun (Auckland), Volume I, Issue 188, 29 October 1927, Page 13

Money and Markets

BUTTER AND CHEESE MARXETS QUIET Trade in butter circles on the London fc&rket is quiet. Only restricted business is reported, and, generally, there appears to have been a temporary easing off in th*» demand. The market for cheese contimv s quietly steady, with values unpanged.

As far as butter fs concerned, despite the temporary quietness in Home circles, the near future position appears healthy. The Argentine drought has certainly Iroken, but too late to have any great effect on this season’s production. It only stands to reason, that for the country to be parched up as it was in Argentine until this month, rains at this late hour are really too late to allow for much cropping to be done, or to bring production back to normal. Official reports to hand estimate that the 1927-28 output from that country will be little more than half that of last year. This, combined with the fact that there is a better tone, generally, in English industrial circles, should help to maintain the demand at a decent figure from the producers' point of view for some time to come. Again, it must be remembered, much of New Zealand's increased output this season will find its way to American consumers.

Even if the Home market does ease ihghtly as the peak production of Southern Hemisphere arrives there, it is hard to see that it could be substantial. Under October 28, W. Weddel and Company, Ltd., London, cabled their New Zealand agents, A. 11. Turnbull and Company, as follows: ‘Danish butter. 190 s; New Zealand united butter, lS4s to 188 s; New Zealand v l i ® d * bu , tter ’ 17L ’ 3 to 1705 : market slow. ->e\v Zealand cheese, white, 102 s to 104 s: l in,?i Ureci ’J ols to 103s '» market quiet. Canto 0-T w heese * and coloured, 102 s