RISING TREND.

Auckland Star, Volume LXX, Issue 152, 30 June 1939, Page 4

RISING TREND.

LONDON BUTTER PRICES.

APPROACHING GUARANTEE. MARKET PI KM AND ACTIVE. Butter is firm and active on the London market, according to cabled advice forwarded by the Press Association to-day. The steady ri«e in the price of New Zealand butter has continued during the week and has brought its value on the market close to the level of the guaranteed price paid to farmers. Following an advance of 4/6 the previous week the quotation for choicest salted New Zealand butter has gone up another 1/ this week, reaching 119/ to 120/ per cwt. Australian salted and Danish butter are unchanged, while unsalted Australian has cased slightly. Unsalted New Zealand has risen by 1/ to 2/ per cwt. The Press Association message states that Danish butter is quoted at 123/ per cwt, choicest salted New Zealand from 119/ to 120/, and Australian at 114/; unsalted New Zealand 120/ to 121/, and unsalted Australian at 114/. The prices of New Zealand cheese are 64/ to 65/ per cwt for white and 67/ for coloured, while Australian white is quoted at 62/. Kuling prices are compared with those of last week and a year ago in the following table:— BUTTER. June June Tear 29. 22. ago. Per Per Per New Zealand— cwt. cwt. cwt. Salted 119/-120/ 118/-119/ 123/ Unsalted . . 120/-121/ 119/ 126/ Austral ian—Salted 113/114/ U3/-114/ 121/ Unsalted ... 114/ 114/-115' 123/6 Danish 123/ 123/ 12-V6 CHEESE. New Zealand— White ... . 64 '-05/ 64 ;.s/tj Coloured .. . 07/ 66; HB/6 Australian — White 62/ 01/ 66/ Coloured ... — 62/ 66/ The quotation for New Zeajand salted butter is now 4/3 below the level of the guaranteed price, which is equivalent to 124/3 per cwt landed in London. There is a wider margin between the market value of cheese and the return to farmers, as the guaranteed price is equivalent to 73/6 per cwt in this case.