A HOPEFUL FEATURE

Manawatu Standard, Volume LIII, Issue 17, 17 December 1932, Page 6

A HOPEFUL FEATURE

dairy produce market. SOME FORWARD ACTIVITY. Forward activity which is regarded as a hopeful feature, particularly m view of the fact that it represented a substantial advance on ruhng quotations, is reported in the butter market in the Manawatu district. It is stated that offers of 9fd f.o.b. have been made for January-February shipment, compared with an occasional offer of 9 l-15d prior to December This is accepted as indicating that some activity, may be expected in future on the London market, possibly under the influence of the Ottava a^The 01 latest London quotations for New Zealand salted butter have been 81s to 82s. With the market at 80s, tho approximate return m the payment to suppliers for butterfat is 8d Offers equal to 9.40 d f.o.b. at New Zealand ports represent a market value of 100 s, with exchange at par, so that an offer of 9Jd may be appreciated at the present market levels. DAIRY ADVANCES. PAYMENTS THIS MONTH. Dairy production continues to be good in the Manawatu, and increased figures are recorded at each factory compared with the returns for the corresponding period of last season. The Shannon Company has fixed its advance at BJd for butter, and the Rangitikei Company will make its payments on the basis of 7d for November T?io Cheltenham, Kairanga, Awahuri, Rongotea and New Zealand Farmers Dairv Union factories are each advancing it the rate of 8d for butter. The Kairanga Company has fixed its payment for cheese at 10}d.