RAW MATERIALS

Evening Post, Volume CXX, Issue 1, 1 July 1935, Page 12

RAW MATERIALS

(By Telegraph.—Press Assn.—Copyright.) LONDON, June 29. Friday's closing prices for the following raw materials were as follows, those for June 21 being in parentheses:— Cotton.—Liverpool quotation, good American middling, spot, 6.85 d a Jb (6.79 d); August delivery, 6.29 d (6.35 d). Rubber.—Para, 5d a lb (same); plantation smoked ribbed sheet, 6d a lb (6 l-16d). Jute. —July-August shipment. Indian jute, Dundee quotation, £19 17s 6d a ton (£2O 3s lid). Copra.—July-August shipment, South Sea to London or Rotterdam, £10 a ton (£lO 15s); smoked, to Marseilles or Genoa, £10 a ton (£lO 15s); plantation Rabaul, to London or Rotterdam, £10 10s a ton (£ll. ss). Linseed oil. —£23 a ton (same). Turpentine.—43s (3d a cwt .(same).

SITUATION IN LONDON

LOW-PRICED ENGLISH CHEESE

An informative review of the London butter and cheese market is contained in correspondence of Samuel Page and Son, Ltd., with Dalgety and Co., the date being May 20. It is shown how, in view of the fact that the total imports of butter in April showed an increase of 147,189c\vl upon those of the same month 1934, thai the prices of Australian and New Zealand not only showed no decrease from those ruling a month before, but were in fact about Is per cwt higher for New Zealand and 3s to 4s per cwt for Australian. This improvement, although slight, demonstrated that the consumption of Dominion and Commonwealth butter must be very good, as "prices today are on the same level as at this date last year,, notwithstanding there have been much larger supplies of these descriptions on the market. The total from Australia and New Zealand in April amounts to 553,139cwt, as against 365,438cwt in the corresponding month of 1934, an increase of 87,701cwt." Referring to the premium on Danish butter over that from New Zealand the authorities quoted state that "Another gratifying feature of the situation is that the premium for Danish in relation to Australian and New Zealand has decreased considerably. It is now (May 20) only about 12s per cwt, whereas at the date- of the issue of our last survey (April 17) Danish was. quoted at 22s per cwt premium; and what accentuates this satisfactory fact is that the supply of Danish last month dropped over 22,000cwt as compared with April, 1934. A comparative shortage of choicest grade 'Kangaroo' Australian and a good demand for the same accounts for the smaller margin that now exists between the price of this description and New Zealand, but the larger supplies of other grades have resulted in rather lower prices relatively, and these kinds, particularly pastry, sell far less readily than heretofore, meeting competition from Kussia."

Dealing with the cheese market it is shown that at May 20, "following upon a fortnight's depressing trade, more life came into the market, but the better inquiry was of very short duration, not being supported by the general trade, and the improvement has since almost entirely disappeared. "The English makers have been accusing New Zealand of undercutting the market, but the reverse seems to