BUTTER AND CHEESE

Sun (Auckland), Volume III, Issue 636, 12 April 1929, Page 10

BUTTER AND CHEESE

AN INTERESTING REVIEW > "PRICES SHOULD HOLD" An interesting resume c*f the butter and cheese position is given by A. IT. Turnbull and Company, in their review of the four-weekly period ended April 9. •'During March,” states the report, "we experienced another very disappointing month as far as prices for New Zealand butter were concerned. Quotations at the beginning of the month were down to 171 s, and each week has shown a further decline. Messrs. W. Weddel and Company, Ltd., cable us that the fall in prices has been due to the collapse of the continental markets. There has been a great lack of German buying, which has caused the Danes to press extra quantities for sale in the United Kingdom. Danish quotations have, therefore, been very rauclv' reduced and considerable quantities were sold as low as 150 s f.o.b. Denmark last week. "Other factors that have caused the drop, in prices have been the heavy quantities of New Zealand butter afloat, and due to arrive during the next few weeks. The Australian production has also been maintained and the heavy gradings in Aus***alia have tended to increase buyers’ ner . uusness. Buyers generally have been adopting the policy of operating very sparingly, but on the other hand it is reported that stocks in store, Loudon, are only 5,000 tons, against 11,000 tons this time last year. Messrs. W. Weddel and Co., Ltd., advise us that they think the market is likely to remain steady in the meantime. "With the somewhat improved market at the beginning of March it was hoped that prices for cheese would be maintained, but, again quotations have fallen slightly and, whereas white and coloured New Zealand cheese was quoted at 91s at the beginning of the month, present prices are down to S7s. Messrs. W Weddel and Co., Ltd. cable us that the cold weather is still retarding consumption and stocks of cheese are heavy. They also are inclined to think that cheese prices will remain fairly steady in the meantime with an improvement as warmer weather is experienced.” AUSTRALIAN PRODUCE lAustralian and N. 7.. Press Association) SYDNEY, Thursday. The following are to-day’s quotations on the bydney produce market: Wheat—At Country stations, 4s ex truck Sydney, 4s 7d. Flour—ill 1 0s. Bran—£6 ss. Pollard—£6 10s Oats—Algerian. 3s 9d; white. 4s 6d. Potatoes— £22. Onions—Victorian, £l2; New £lO 10s to £ll is. iynJ ’ Adelaide prices Wheat—Growers’ lots. Is fid Flour—Bakers’ lots, to £lO 12s fid. Bran—£6 7s 6d. Barley—Bs 3d. oats—2s lOd.