BUTTER PRICES STEADY

Press, Volume XCIV, Issue 28155, 19 December 1956, Page 19

BUTTER PRICES STEADY

BRITISH MARKET FOR CHEESE WEAK (New Zealand Press Association) WELLINGTON, December 18. The ex-store price of New Zealand butter in London was unchanged yesterday at 276 s per cwt—the level at which it "has stayed since the end of November—but cheese prices have continued to weaken. The undertone of both markets is weak. _ „ , The chairman of the New Zealand Dairy Products Marketing Commission, Mr W. Marshall, said today that the demand for New Zealand butter last week was better than for some weeks, partly because of the pre-holiday trade, but the undertone of the market was weak because stocks of butter in cold stores in the United Kingdom were at a high level and large quantities were afloat from New Zealand and Australia. The ex-store price of finest New Zealand waxed cheese fell by 9s per cwt to 259 s per cwt in the week ended yesterday. Coloured New Zealand cheese yesterday was bringing 2605. A fall of approximately 39s per cwt in the ex-store price of New Zealand cheese has occurred in the last month. Australian choicest Cheddar is selling nominally at 10s less than New Zealand. Prices of United Kingdom Cheddar and Cheshire have also dropped. Mr Marshall said the weakness in the cheese market was chiefly the result of an extraordinarily large increase in domestic production in the United Kingdom. For the calendar year, 1956, the British cheese make would probably be more than 100,000 tons, or about 60 per cent, more than in 1955.