DAIRY ACCOUNT

Waikato Times, Volume 122, Issue 20508, 26 May 1938, Page 10

DAIRY ACCOUNT

LARGE SURPLUS FORECAST FUTURE MARKET TENDENCIES INFLUENCE OF NORTHERN SPRING Leading authorities In the dairying Industry, while disinclined through past experience to place too much reliance upon estimates of future overseas price movements for butter and cheese, are of the opinion that the Dairy Industry Account at the end of the season will show a surplus of from £2,500,000 to £3,000,000. The more conservative estimates envisage a credit of £1,800,000 for butter and £310,000 for cheese, making over £2,500,000 In New Zealand currency. The opinion was expressed in Hamilton to-day that probably rather more than half the butter produced had already been sold, leaving about 60,000 tons to be disposed of on a market which is estimated to touch 140 s about July, while the average price forecast for unsold stocks from the middle of May was 1355. This would yield a surplus of £1.380,000 sterling over the guaranteed price and to this £550,000 (New Zealand currency; was to be added. It was estimated that unsold chepse would realise a credit of £252,000, making a total profit of £310,000 sterling. It was also pointed out, however, that the possibility of a favourable spring in the Northern Hemisphere would have to be taken into consideration as a factor which might materially affect the yield from New Zealand produce from now on.