BUTTER ACTIVE

New Zealand Herald, Volume LXXII, Issue 22166, 20 July 1935, Page 9

BUTTER ACTIVE

LONDON MARKET FIRM

DANISH PRICE ADVANCES NEW CANADIAN CHEESE The London butter market, which was quiet earlier in the week, is firm and active. Tho price of choicest salted New Zealand is unchanged at 89s to 90s, but Danish has advanced by from 3s to 4s to 102s per cwt. The cheese position is quiet and declining. Prices for New Zealand have fallen by from 6d to Is to 44s per cwt. for white and 43s 6d for coloured. Thy average price of Canadian cheese has fallen on account of offerings of new season's make. The Press Association message sent from London on Thursday states that the butter market is firm and active. Danish is quoted at 102s per cAvt.; choicest salted New Zealand, 89s to 90s; Australian, 86s to 87s; unsalted, New Zealand, 94s to 965; Australian, 88s. Cheese is quiet. New Zealand, coloured, 43s 6d; white, 445; Australian, white and coloured, 41s to 425; exceptionally, 'l2s 6d. The following comparative table shows the mean closing quotations on the London market for the past two weeks:— July 12 July 19 T?ise Fall Butter— s d s d s d s d Now Zealand. 89 0 89 G Australian . . 80 0 80 0 ' Danish . . OR 0 102 0 3 6 Choose—New Zealand : White . . .. 44 9 44 0 0 9 Coloured .. 41 3 43 6 0 9 Canadian: White . . .. 01 0 58 0 Coloured .. 01 0 58 0 A month ago butter was firm and was selling well. Danish was quoted at 102s per cwt.; choicest salted and unsalted New Zealand, 89s to 90s; Australian, 86s. Cheese was steady. New Zealand, white, 44s 6d; coloured, 44s to 44s 6d; Australian, white, 42s to 435; coloured, 42s to 42s 6d. The butter market was steadier after a slow period a year ago. Danish was quoted at 965; choicest salted New Zea-land,-78s to 795; Australian, 73s to 745; unsalted New Zealand, 84s; Australian. 7C.H The cheese market was steady. New Zealand, white, 49s 6d; coloured, 46s 6d; Australian was cleared.

REPORTS OF MERCHANTS CHEESE POSITION DECLINING Merchants have received the following cablegrams, dated July 18, from their London principals: A. S. Paterson and Company, Limited, from J. and J. Lonsdale and Company (London), Limited.—Butter: The market is firm. New Zealand, 89s to 90s; Danish, 103s; Australian, 87s. Cheese: The market is dull and declining. White, 43s 6d; coloured, 435. Mr. L. McCartney, from Henry A. Lane and Company, Limited. —Butter, 89s to 90s. The market is steady. Cheese: White, 44s to 44s 6d; coloured, 43s 6d to 445. The market is quiet.

Dalgoty and Company, Limited, from Samuel Page and Son, Limited.—Butter: The market is firm. New Zealand, finest salted, 89s to 90s; Danish, f.0.b., 80s; Australian, finest unsalted, 87s; salted, 87s; general average quality, 83s to 84s. Cheese: The market is slow. New Zealand, white, 43s 6d to 445; coloured, 43s to 43s 6(1; Canadian, white and coloured, 52s to 645; c.i.f., 49s to 50s.

Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited. —Butter, 90s. The market is very firm.

TREND OF VALUES UPWARD MOVE PROBABLE ENGLISH MILK PRODUCTION A dairy produce review issued by A. S. Paterson and Company, Limited, agents for J. and J. Lonsdale and Company (London), Limited, states that it is considered there will be no decline in butter prices before September, but on the contrary, prices may appreciate. The trend from September onward may be influenced by special world conditions, but as far as can be seen at the moment, will be dependent principally on the progress or production in those countries which are mainly responsible for supplying the needs of the British market.

Cheese prospects are unfavourable. It is reported that the Milk Marketing Board shipped a consignment of. goodclass English Cheddar cheese to Newcastle, where it was offered at 36s to 38s per cwt.

" The increase in production of liquid milk in the United Kingdom is, of course, an increasingly vital factor, and it remains to be seen to what extent it will in future affect the market for imported butter and cheese," the review concludes. " At present the increase in milk production is affecting the importations of tinned milk and cream and milk powders, mostly from the Continent, to a greater extent than it is affecting butter and cheese, but the latter are being influenced, and the extent in the future will depend upon the trend of British agriculture and world conditions, both productive and consumptive." GOLD AND SILVER QUOTATIONS IN LONDON (Received July 19,. 7.35 p.m.) LONDON, July 18 Fine gold is quoted to-day at £7 Os 11 dd an oz., compared with £7 Os l.jd yesterday. Silver is quoted at 30 3-16 d an oz. spot, and 30jjd forward, compared with 30 3-16 d and 30 5-1 (Jd yesterday. The quotation for silver at por fine oz. is 32 9-lGd, same as yesterday. The following is a summary of the fluctuation in the price per ounce of line gold in ]93f>: £ s d Highest price, March 6 .. 7 9 4 Lowest, price, July 17 .. 7 0 11 July 12 7 0 11 July 13 7 0 11 July 15 . . .. .. 7 0 91 July IG 7 0 111 July 17 7 0 U July 18 7 0 111 PRICES OF METALS SHARP RISE IN TIN (.Received July 19, 7.35 p.m.) LONDON, July 18 Following are to-day's quotations on the London metal market compared with those of July 17:— July 18 July 17 Per toil Per ton £Bd £ s d Copper, stall., spot . . 31 8 9 31 14 4} Copper, stnn., 3mo 9. 31 16 10J 32 3 U Copper, electrolytic . . 35 0 0 35 5 0 to to 35 5 0 35 10 0 Copper, elec., wire bars 35 5 0 35 10 0 Lead, soft, spot 14 17 R 14 7 6 Lead, soft, forward .. 14 18 9 14 8 9 Spelter, spot . . 14 2 6 13 16 3 Spelter, forward . . 14 7 6 14 0 0 Tin, B tan„ spot .. 234 17 6 232 17 6 Tin; stan., S men. ~ 224 18 9 224 7 6