BUTTER AND CHEESE

Sun (Auckland), Volume II, Issue 330, 16 April 1928, Page 10

BUTTER AND CHEESE

MARKETS REVIEWED CHEESE POSITION SOUND A comprehensive review of the conditions effecting the London dairy produce market is given by A. H. Turnbull and Co., New Zealand agents for W. Weddel and Co., Ltd., at date April 12. “A review of top London quotations for the past month,” states the report, ‘‘shows that the market for New Zealand salted butter has steadily weakened, showing a fall from 176 s to 170 s. The apparent reasons for this decline are, first, the rapid recovery of the Australian pastures and production with anxiety on the part of holders to realise their stocks; secondly, the diminished consumption owing to higher retail prices. Many of the larger buyers in the United Kingdom having filled their immediate requirements are now inclined to hold off. *‘W. Weddel and Co., Ltd., cabled that they consider the market will depend very much on the Northern Hemisphere production; that is to say, if there is an early and flush spring they do not anticipate any great firming in the market, but on the other hand, should there be a late spring there is every prospect of a general improvement in the butter position. We particularly wish to draw your attention to the fact that at the end of March there was only 6,000 tons of butter in store in New Zealand, compared with nearly 14,000 at the same period last year. This shows that much less butter will be shipped during the latter part of the season than was the case last year, and this should have a considerable effect in keeping prices up to a high level in London.

“With the weakening in spot quotations, forward buyers have shown much less interest and, although a few sales were made during the month at Is 5d for finest March shipment, London buyers have now retired altogether. “The market for cheese has remained at a high level throughout the month, but there is a slight weakening in spot quotations. The position, however, we think is sound, and although we may find that prices recede a little, we still think that the balance of our season’s make will reach a strong market. “These cheese stocks in store in New Zealand are only about half the quantity in store at this time last year. Considerable quantities of cheese were sold at from Bid to 9d for end of season's make from January onward, but buyers now seem to have filled their requirements and there is no further inquiry in the meantime.” Under date April 14 the London office of the Amalgamated Dairies cabled as follows: , , “.Butter: 166 s to 168 s: unsalted, 1745; buyers not yet\ responding, but consider not far off bottom. Danish, 162 s spot, 172 s f.o.b. Deliveries: New Zealand, 1,018 tons: 1 stock, 6,490 tons. Retail prices unchanged. Cheese: 96s to 975; exceptional, 9Ss; market quiet. Retail unchanged. HIGH-PRODUCING COWS PUKEKOHE PERFORMANCES An official certificate of record for tile season of 813.4211) of butter-fat gained the Franklin Jersey Club’s Chamrlon. Producers’ Cup for G. E. Yelchich’s cow Keston Flower. There were eight entries for the competition, and the animals produced records ranging from 486.11 b of butter-fat to 813.421 b. Mr. Lelchich’s heifer Marairohio Fancy was second. She produced 651.421 b of butter-fat. a margin of 410.921 b above the required standard. W. T. cow Ashley’s Bud was third, with a record of 682.751 b, a margin of 400.351 b. SOUTHERN EXCHANGES TO-DAY’S SALES Wellington. —Reported: 4i per cent. Inscribed Stock, 1939 and 1938, £97 12s 6d. MINING NEWS OHINEMURI. —The superintendent reports: The north drive is at a point 792 feet from the main crosscut. The hanging Avail section is composed of sulphide veins, evidently branches of the main reef. A crosscut is being put out to intersect the Camoola reef and has been extended 41 feet. Tlie new development exposed at 550 feet north is striking underfoot going northward. For the distance driven, 30 feet, high grade ore is showing. The Tellur ides Level, which was driven some time ago a distance of 2,060 feet, Is situated 50 feet below No. 3 level and its extension another 190 feet will intersect the Queen, Julia and a 40ft. lode exposed in the SilA'erstream crosscut, Avhich will drain this section and enable the expeditious opening up of milling ore. The Camoola reef and the new sulphide reef will also be intersected by this crosscut. The level has been reconditioned and driving will be commenced during the ensuing week. The north drive at No. 3 level is 308 feet south of the course of this crosscut. In the south section, the “E“ cross cut to intersect the main reef is out 112 feet in highly mineralised country. The reef should be in hand in a few days. The experiments in progress at the Thames School of Mines, which will determine the methods to be adopted for the treatment of the ore ; from all -pai'ts of the mine, will be completed during the ensuing week, and the design for the plant will then be decided upon.