DAIRY PRODUCE MARKET.

Taranaki Daily News, 4 November 1922, Page 8

DAIRY PRODUCE MARKET.

BUYERS ACTING CAUTIOUSLY. DETAILS OF SHIPMENTS. The representative in London of the National Dairy Association, in his cable message dated October 28, stated that the buyers of butter were cautious owing to the large quantities afloat. There has been a scarcity of 'butter in the London market for some months, and prices have ruled high. The limited supplies were under control, and the prices could be maintained at a reasonable level. Now there are heavy shipments afloat, and no one can tell how the prices will move when butter begins to reach the market in some volume. The October-November shipments from New Zealand will ‘be very large, and the vessels that have' sailed and to sail are loaded with, or are loading the following lots of butter: —

Total 784,037 This is equal to about 19,000 tons, ana the first of the steamers, the Port Napier, is due to reach London on November 26, and the Corinthic on December 2, and' thereafter the vessels will arrive in quick succession. There is also a considerable quantity of Australian butter afloat, but it is difficult to say what is g'-ing forward from the Argentine, where a good season was anticipated. A fall in the price from the present high level is inevita.'ble, but that does not mean that the lower price will be an unprofitable one. It seems very probable that the price of butter will stabilise well a'bove the quotation ruling in the earlier part of last season. The prices for both colored and white cheese are being well maintained, and judging by the statistical position there should be no great setback in the price of cheese. Canada and New Zealand are the principal sources of supply of cheese to the British market, and in the past season the Canadian output was not very large, 'besides which some Canadian cheese was diverted to the United States. The British market will be dependent upon New’ Zealand suppies mainly, during the next four or five months, and that supply will not be equal to the demand. Brices must therefore rule steady, and later witness an advance.

Butter. Vessel. Boxes. Port Napier ... 82,410 Corinthic ... 99.627 Orari 8,000 Paparoa ... 34,000 ... 76,000 Durham ..... ... 63,000 ... 68,000 Mahia ... 100,000 . . . 40.000 Waiwera ..... ... 85,000 Port Denison .. ... 100,000 Middlesex .... ... 28,000