BUTTER AND CHEESE

Sun (Auckland), Volume IV, Issue 997, 13 June 1930, Page 11

BUTTER AND CHEESE

REVIEW OF THE MARKET LITTLE FORWARD BUYING An interesting review of the dairyproduce position as it effects New Zealand is contained in the monthly report of Messrs. A. IT. Turnbull and Co., New Zealand agents for W. Weddei and Co., Ltd., London. The butter market has been disappointing throughout the whole ill on th, states the review, the slowness of the market being largely due to the cessation of Canadian buying. Another fact that has kept prices on the low level has been that the Danes are freely offering their full grass butter below the price which they- have been asking for their mixed feed butters, a thing that has never occurred before. Although the market has apparentlyreached bottom, any* material rise is not anticipated meantime. The statistical position of butter is certainly a little better, in spite of the fact that the estimated arrivals of New Zealand butter for May, June, July and August show an increase of approximately- 6,000 tons over the same period fast year. However, the stocks in New Zealand have been considerably' reduced during the month, and the Maytradings are only on a par with last season. AMERICAN STOCKS The position of storks in America shows a slight improvement, although they- still have a surplus over and above their usual stocks at this period of the year from 6.000 to 8,000 tons. There has been a slightly better demand for butter during the month, and it is to be hoped that this will he maintained.

Quite a fair interest was shorn in forward butter for Canada during the first half of May, and a number of sales were made, but just when the business seemed to be getting On to n steady footing, the buying suddenlyceased.

The cheese market has weakened throughout the month, chiefly’ on account of unfavourable weather conditions. However, since the beginning of June the consumptive demand ha.-- increased, and the position looks a little brighter. The statistical position of cheese is sound, but with the general bad trading conditions one must not be too optimistic. THE STATISTICAL POSITION

Below is a summary’ of arivals of butter and cheese in the United Kingdom in May, and the estimated arrivals in June. July and August, compared with the last two seasons: Butter

May June July August . . 192*. 3,224 3.085 2.1 iZ . 3.828 lTHo 1 929. 6,702 3.221 2.450 2.152 J 920. 5,943 5.045 4.630 4.720 14.525 20,340 Cheese May July August . . 10,299 7.631 4,272 5.35 6 9.571 7.504 5,329 6,238 7.530 7,220 7.877 5.464 27,558 28,542 “ 28,211 Gradings and Stocks in New Zea and

(in tens) 1928. 1929. 1930. Butter graded during May 3.200 Butter graded 10 3,400 3,500 months to May CO 72,350 Butter in store at 7?,606 93,450 May SO 4,400 Cheese graded during 6,600 11,437 May 4,750 Cheese graded 10 5,200 5,274 month to May 30 73,600 Cheese in store at 84,0S0 54,224 May 30 4,300 9,550 13,SSI