BUTTER TRADE.

Auckland Star, Volume LXVI, Issue 29, 4 February 1935, Page 7

BUTTER TRADE.

PRICES HARDENING.

Continued Improvement on

London Market. CONSUMPTIVE DEMAND. i United P.A.—Electric Telegraph—Copyright! LONDON, February 3. The butter. trade continues to improve. Prices have steadily hardened until yesterday choicest salted New Zealand sold at 92/ a cwt, and Australian at 90/. These rates are 15/ higher than at the beginning- of January, and 20/ higher than at the beginning of December. Several causes contributed to this satisfactory state of affairs. The first was the continuance of the strong consumptive demand which resulted in a reduction of cold-stored stocks to about 400,000 boxes, or roughly about one week's consumption. Another "bull" factor in the market is that New Zealand is shipping considerable quantities to the Un:ted States, which also has been buying here. Then there was the news of the severe drought in New Zealand, and a consequent heavy reduction in butter production, so importers are taking a very firm attitude. The higher values will cause retailers to advance their prices by one penny or twopence a lb, but it is not expected that this will mean any serious reduction in consumption.

LATEST REPORT.

DAIRY PRODUCE BOARD. The New Zealand Dairy Produce Board has received the following market report from its London office, dated February 1:— NEW ZEALAND BUTTER. Last > Last Feb. 1, 1935. week. year. Salted 87/ to 90/ 84/ to 85/ 00/ to 07/ eq. 3 0.3 per lb, f.o.b. Unsalted 92/ to 94/ 88/ to 90/ 77/ to 74/ Tons. Tons. Tons. Deliveries 2717 2322 1787 In store 5041 4932 3750 Australian: Salted 87/ to 88/, unsalted 90/ to 91/. Deliveries: Australian 2750 tons, in store 2534 tons. South Africa: salted 84/ to 80/. Market firm. New Zealand retail price increased to lid. Danish, 98/ f.0.b., 118/, spot quiet 00/ (Inst year 110/ to 117/). Dutch: Unealted 107/ to 111/, quiet (last year 109/ to 113/). Danish: Retail price unchanged, 1/2. NEW ZEALAND CHEESE.. Last Last Fob. 1, 1035. week. year. White 47/ to 47/0 45/ to 40/ 42/ to 43 eq. 5.()5<1 per lb, f.o.b. Colo'rd 40/(! to 47/ 45/ to 40/ 44/ to 45/ Crates. Crates. Crates. Deliveries 20,002 35.914 23,000 In stoA) 94,813 82,534 31,000 Australian: White and coloured 45/ to 45/0. Canadian: White and coloured 58/ to 60/. Deliveries: Canadian 5750 boxes; in store 118,089 boxes. English: Finest formers' 82/ to 90/; factory cheese 42/ to. 45/. Market steady. New Zealand retail price unchanged, 6d. 'Pho board has also received the following advice from its agents in Canada:—Butter: New York 37} cents, Montreal 24A cents. Stocks 3128 tons (last year 1540 tone). Tho minimum f.o.b. prices for period from February 2 until further notice are:—Butter: IOJd, less 1J per cent commission (83/0 e.i.f.e.). C'heeee: 5Jd, less 11 per cent commission (45/11 e.i.f.e.).