COMMERCIAL.

Taranaki Daily News, Volume LV, Issue 233, 20 February 1913, Page 7

COMMERCIAL.

LONDON DAIRY PRODUCE REPOKT. Messrs E. Griffiths and Co. are in receipt of the following market report from their London principals, Messrs , Mills and Sparrow, dated London, January 10:BUTTER. The heavy tone experienced in the | market last week, owing to the accuinuI lations over Christmas, has not quite passed away, and the demand has not been sufficient to clear up the arrears | and take care of the large quantities of | colonial that have arrived this week, consisting of—Australian: s.s. Otranto 32,000 boxes, s.s. Themistocles 11.000 boxes is.s. Ballarat 3000 boxes; New Zealand: I s.s. Tainni 52,000 boxes. There are manv : reasons put forward as to the cause of j the great difference in price between last season and ''his season, hut it must be borne in mind that last season's high range of prices was entirely owin" to the severe drought that was'experienced in the United Kingdom and the butterproducing countries north of the equator in the summer of 1011, whereas, dm-in« the summer of 1012 the conditions have been exactly the reverse. AH the but-ter-producing countries have had increased rainfall, magnificent pastures, and up to now a winter with hardly any trace of frost. This week flowers are beinnpicked in English gardens that usually appear at the end of March or April, and some fruit trees are in which will give our colonial friends an idea of the mildness of our season.

Foreign imports show a slight increase of about 4000cwt weekly (mainlv from Denmark and Argentina), but the total quantity of all imports, including colonial, for the past two months, are less than for the same period last year. During the period of high-priced butter there is no "doubt that margarine has received a very considerable' stimulus, and the retail consumption ha.s increased by leaps and bounds. The improved manufacture and quickness in marketing have also helped to improve the position of this article. Tt is generally retailed at (id and Sd per lb. and we must admit that it is a serious competitor with butter when prices for the latter commodity exceed 120s per cwt.

There was considerable apprehension prior to the arrival of the Otranto as to the condition in which the butter on board would rrrive, owing to the reported break-down of machinery whilst at sea. The owners state T,bat, although one msrchine broke down, the other was able to satisfactorily keep the temperature of the butter down to its proper level, and that no damage whalevel was done to the cargo. Danish is 3 kroner (3s Od) lower, owing to the demand not being sufficient to absorb the supply at the previous price. Argentine is showing an improved quality over that of last season, and imports are steadily increasing. Other descriptions of foreign butter are now arriving in very small quantities. CHEESE. The market continues easy, notwithstanding the efforts made by agents to maintain prices. The quantity of English cheese in the country shows a wonderful increase over last'year, owing to the change in weather conditions referred to above, whilst the stocks of Canadian on January 1 in the three leading centres in England were 309,000 boxe°s (Tolbs average), as against 202,000 boxes for 1.912. Tt is hoped that present prices, which are fully 10s per cwt. below the corresponding period of last year, will enable the retail demand to be stimui lated and steady the market. We hear that some retailers are reducing their | price, which will materially assist mati ters.