BUTTER AND CHEESE

Daily Telegraph (Napier), Volume 59, Issue 46, 26 March 1930, Page 10

BUTTER AND CHEESE

THE LONDON' MARKET. * REV1EW OF CONDITIONS. Througliout January the trade for almost all descriptions of provisions has been on the quiet side, states a report issued by the London house of W. Weddel and Company, Ltd. As far as butter is concerned, the slight improvement was not maintained, and, apart from one or two brief spells of activity, tlie general demand was far from satisfaetory. During the course of each week values fluctuated, and at times were inclined to be somewhat irregular, but the general trend throughoiit the month was downward, quotations at the close being 7s to 8s per ewt, for New Zealand, 4s to 6s per cwt. for Australian, and 2s to 6s per cwt. for Argentine below those last recorded. Apart from the general all-round depi'ession in trade, it was diificult to give aiiy specific reason for the present state of the butter market. Retail prices had been reduced by ld per 1b . , and for the time of year could not be considered high, although, no doubt, under present circumstances, tlie spending power of the public was somewhat curtailed. The weather had heen. mild and open, and that also, to a certain extent, militated against the consump--tive demand. Another factor had been tlie almost entire lack of demand for New Zealand and Australian butter from the Continent this season, and so far for only very small quantities of Argentine butter. During the month seven steamers arrived, carrying a total of 342,440 boxes from New Zealand. as compared with 278,260 boxes arriving during December, an increase of 64,180 boxes. During the first week the demand was almost negligible and prices fell accordingly. Since then there had been one or two slight recoveries, but, generally speaking. the demand throughout was very slow, as evidenced by the steady .easing off . in values. Unsalted was still scarce and commanded a considerable premium over salted, but not to the same extent at previously recorded. Throughout the first nalf of the month, so far as New Zealand cheeso was concerned, there was little or no change to record in the general market position Demand continued very slow and values declined. During the latter. lialf of the month. however, a good inquiry set in, and notwitlistanding fairly heavy arrivals prices advanced sharply, being at the close about 4s to 5s per cwt. above the lowest point touched during the earlier part of the month. Toward the close, however, the market quietened down considerably, and the tendency, if anythhm was slightly easier. In regard to Canadian cheese the demand throughout had remained quiet, but, with the improved general position quotations advanced about ls to 2s per cwt.