GOOD FOR FARMERS.

Auckland Star, Volume LXVI, Issue 121, 24 May 1935, Page 7

GOOD FOR FARMERS.

BUTTER IMPROVES.

FORWARD CONTRACTS MADE.

UP TO IOD A POUND,

Latest cables from London indicate a welcome improvement in the butter market. After semi-stagnation at low prices in recent months values have at last moved up. Quotations to-day vary from 80/ to SI/, compared with. 77/ a week ago. Cheese unfortunately has not joined in the improvement. Stocks are very heavy at present, and until these have been substantially reduced values are likely to continue low. The weekly Press Association cable from London reads as follow: — Butter is in good demand. Danish 90/ per cwt, choicest salted New Zealand 80/, Australian 79/, unsalted New Zealand 80/ to 81/, Australian 78/. Cheese is slow. New Zealand white 43/, coloured 44/, Australian 41/ to 42/. Cause of the Rise. Messrs. A. S. Paterson and Co. are in receipt of the following cable from their principals, Messrs. J. and J. Lonsdale and Co. (London), Ltd., London:— Butter.—Unseasonable weather, which has retarded European production, and the fact of American buying of Latvian and Dutch butters, is accentuating the usual seasonal appreciation of prices for Danish full grass butter. Danish, 100/ (last week 91/); colonial firm on reduced Australian production; New Zealand, 81/ (last week 77/); Australian, 79/ (last week 75/6). Cheese. —Market slow owing present large stocks. White, 43/, 43/0; coloured, 44/, 44/0. The report continues: — The combination of circumstances — severe weather, American buying, and the Danes passing out of the intermediate period between winter and summer, and feeding their cows on full grass instead of grass plus artificial foods — these three, added to the more marked falling away in Australian late season production as a result of unfavourable weather conditions, have brought about a welcome improvement in London prices for Continental and Empire butters. It is to be hoped that spot prices will continue to appreciate, and that United Kingdom buyers will continue ta take a lively interest in forward business. | A considerable quantity of butter has recently been eold for May, June and July shipment, prices having reached 10d, and a fraction over for July shipment. Tenpence is equal to a spot London price, all selling expenses paid, of S6/2. Merchants' Cables. Other cables received by local produce dealers from their principals in Tooley Street, London, arc as follow:— Mr. L. McCartney (Messrs. Henry A. Lane and Co.): New Zealand cheese, white 43/, coloured 43/0, 44/; market quiet but steady. New Zealand butter, 80/; market firm. Messrs. Dalgety and Company, Limited (Messrs. Samuel Page and Son). —Butter: The market is firm. New Zealand, finest salted at 7!>/G to SO/; Danish f.0.b., 70/ to 78/; Australian, finest.salted 78/ to 79/, finest unsalted 78/ to 79/; g.a.q. 73/ to 74/. Choose: The market is slow. New Zealand, white 43/ to 43/(1, coloured 44/ to 44/0; Canadian, white 54/ to 02/, coloured 54/ to 02/.