BUTTER AND CHEESE

Sun (Auckland), Volume I, Issue 282, 18 February 1928, Page 9

BUTTER AND CHEESE

SOUND FORWARD POSITION BUYERS OFFER 1 41 F. 0.8. Near future prospects for but ter and cheese appear sound, and all London reports indicate a healthy tone in the market. An interesting: report on the London market conditions is supplied by A. FI Turnbull and Co., who state that the following are the top London quotations for the last six weeks:

“From the above figures." the firm continues. “it will be seen that the butter market has fluctuated considerably during the month. The fact that 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 as low as 1525, speculators did not show* any interest The change was brought about by the news of continued dry weather in New Zealand, and the fact that stocks in the United Kingdom were very light, with anticipated serious decrease in Februarv manufacture. These factors have caused an active demand, and the market has firmed rapidly, present quotations being from 162 sto 166 s for salted butter. The position is now strong, and a good market throughout February is anticipated ‘There has been a good den %ml for forward shipments during Februarv and March, and buyers are prepared to pa as high as Is 4Jd per lb. fo.b. The Cheese Market

»_.,« heese P rices fluctuated two or three shillings during the month, and there hab®en » «teady demand. In spite of the fact of the very heavy shipment of cheese arriving and afloat. W. Weddel and Co., Ltd., cable that they anticipate a good market for cheese during February, and this is borne out t>y forward buyers operating freely at Sid f.0.b., equal to 93s on the market. ‘ l " he grading figures show « although there is a slight increase in both butter and cheese for January gradings, this by no means compares with the increase in production during November and December. Unless copious rain falls 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 the stocks of butter and cheese in New Zealand, as at January 31, as compared with last season:

Australian and Argentine Shipments The total shipments from Australia during January, 1928, were 201,440 boxes of butter and 599 tons of cheese, compared with 144,600 boxes of butter, and 79 tons of cheese during January, 1927, an increase of 56,840 boxes of butter, and 520 tons of cheese. The total shipments from Australia from August 1, 1927, to January 31, 1928, were 699,640 boxes of butter, and 1,501 tons of cheese, compared with 670,880 boxes of butter and 456 tons of cheese

for the corresponding period of 1926-27. an increase of 28,760 boxes of butter, and 1,045 tons of-cheese. From the Argentine 130,000 boxes of butter were exported during January, 1928. The shipments of butter for the period, August 1, 1927, to January 31, 1928, totalled 430,000 boxes, compared with 587,000 boxes for the coresponding period of 1926-27, a decrease of 157,000 boxes. Britain’s Suppliers The imports of butter into Great Britain from all sources for the month of January afford the following comparison with previous years:—

Jan. 5 Jan 13. Jan. 30 Danish butter .. 184s 176s 174>X.Z. unsalted .. 16Ss 162s 160.N.Z. salted 164s 15Ss 154s N.Z. cheese, -white . 94s 91s 91s N.Z. cheese, col. .. 94s 91s 9is Jan. 2S Feb 4. Feb 11 Danish butter .. .. 172s ISOs lS4s N.Z unsalted .. .. 2 60s l6Ss 170N.Z. salted 166s 164s 16*N.Z. cheese, white .. 90s 93s 92N.Z. cheese, col. .. 90s 93s 93.-.

1926. 1927. 1928. tons. Butter grided Jan. . Cheese graded 6 8,600 10.05S 10,368 months ending January 31 41,350 45,673 51,856 Butter in store, Jan. 31 9,050 12,500 5,388 Cheese gTaded Jan. Cheese graded 6 10,400 10,973 11,473 months ending Jan. 31 43,850 44,812 46,582 Cheese in store, Jan. 31 9,400 12,000 7,997

From 1D28. cwt. 1927. cwt. 1926. cwt. 2.0G1 — — 14,100 12,948 14,077 15,028 13,782 11,341 , 172,610 151,769 148,023 3,585 3,108 3,804 France 3,585 455 086 . 50,801 77,377 75,586 Irish Free State , 7,382 11.706 6,467 . 71,584 63,796 . 174,912 139,428 267,815 3 Other countries 3,162 625,954 1,824 475,738 672,651

The imports of cheese -into Great Britain from all sources for January were 1928. 1927. cwt. cwt. cwt. 17,936 19.050 15.358 9.917 134 57 753 1,834 3,558 187.565 3,279 31,023 Other countries . 3,512 224,177 278.3C0 347,761