DAIRY PRODUCE PRICES

Dominion, Volume 26, Issue 101, 23 January 1933, Page 12

DAIRY PRODUCE PRICES

Market for Coloured Cheese Firm

LONDON BUTTER TRADE QUIET

Finest New Zealand butter is reported by the London office of the Dairy Control Board to be selliug on the London market at 81/- per cwt., with an occasional 8-/-for lots of exceptional quality, hirst grade is quoted at SO/-. These prices, which represent a drop of a shilling on values ruling a week ago, equal approximately 9 1-Sd. per Ib. f.o.b. , The market is quiet, and the J®' 3 ! 1 price of New Zealand is unchanged at miner lb. The Danish retail price has been reduced to 1/1. Cabled advice received by the board from its agents in Canada reports that the New York price of butter is 19 cents, and the Montreal price 21 CG For white New Zealand cheese the market is steadier, and for coloured it is firm. White is quoted at 46/- to 47/- pel cwt., which is equal to 4 i-Bd._ per lb. f.0.b., and coloured at 56A to i>i/-. ® f.o.b. price of coloured is 6 l-8d„ and the retail price at Bd. is the same as that ot a week ago. For other cheeses the market is quiet. . Friday’s closing quotations are repotted by the London office of the Dairy Board as follow, those for the previous week being shown iu parentheses: — J BUTTER.

New Zealand: Salted. SO/- to SI/- : ex. 82/- (81/- to 82/-; January 19, 1932, 94/- to 96/-) ; unsalted. 81/- to 84/- (84/to 86/-) ; January 19, 1932, 110/- to 114/-). Deliveries, 2100 tons; in store, 6328 tons. , Australian: Salted, <B/- to SO/- (<9/to 82/-) ; unsalted, 80/- to 82/-, ex. 8-/-(82/- to 84/-). Deliveries. 2000 tons; in store, 4447 tons. Argentine: Unsalted, 18/- to 80/-, ex. : r/bi 84/- <B2/-1: spot. IW/Estonian: Unsalted. 90/- (90/-). Latvian: Unsalted, 92/- (90/- to 92/-). CHEESE,

New Zealand: White, 46/- to 4i/(48/- to 49/-; January. 1932, 56/- to 57/-); coloured, 56/- to 57/- (56/- to 57/-) ; January, 1932, 55/- to 56/-). Deliveries, 25,000 crates; in store, 27,000 crates (includes 7200 crates ex Matarqa). Australian : White, 46/- (47/- to 48/-) ; coloured. 55/- (54/-). Canadian: White, 60/- to 68/- (60/- to 68/-) ; coloured, 62/- to 68/- (62/- to 68/-). Deliveries, 6300 boxes; in store, 132.826 boxes. English finest farmers’, 98/- to 10a/(98/- to 105/-). Reports Received by Agents The New Zealand Producers’ ■ Cooperative Marketing Association’s weekly cabled' market report from London, dated January 20, is as follows : —Butter: Market quiet; New Zealand finest, 81/-; first grade, 80/-; Danish, 106/- to 108/-. Cheese: Market quiet. New Zealand white, 46/- to 47/-; coloured, 57/-. Mr. Thomas Gray has received the following cablegram from Mr. A. C. Rowson, London, dated January 20: —Cheese : Deliveries; New Zealand and Australian, 26,681 crates: Canadian, 6500 boxes; stock. New Zealand and Australian, 29.423 crates: Canadian, 134.16 S boxes. Price, white 47/-, coloured 57/-. The demand for cheese is steady, and the market rather slow with firm undertone. Butter: Price, first grade SO/-, finest 81/-. The demand for butter is steady, and the market is rather slow with firm undertone. A. S- Paterson and Co. adyise having received on Friday cabled advice from J. and J. Lonsdale and Co. (London). Ltd., as follows: —Butter: Market firmer, demand improving on account, reduced retail price. New Zealand, 81/-; Australian, 79/-. Cheese: White, market, stronger and more demand, 47/-; coloured, market is firm at 57/- to 58/-. in consequence ot small stocks. RAW MATERIALS Osmiridium Prices Unaltered (Received Jan. 22, 6.30 p.m.) London, Jan. 21. Friday’s closing prices for the following raw materials were as follow, those for January 14 being in parentheses: — Cotton. —Liverpool quotation, American middling, upland, spot, 5.25 d per lb (5.30 d ; February delivery, 5.02 d per lb (o.OTd). Rubber. —Para, 4ld per lb (4Jd) : plantation smoked ribbed sheet, 2 3-16<l per lb (211-32 d Jute. —January-February, £l4/7/6 per ton (£l5). Copra.—January-February shipment. South Sea, £l3/2/6 per ton £l3/10/-): plantation, Rabaul, £l3/5/- per ton (£l3 12/6). Linseed Oil. —£18 per ton (£18). Turpentine.—66/9 per cwt. Osmiridium. —Prices unchanged. STEEL MANUFACTURE Expansion in Great Britain Arrangements have been completed for (he erection at Corby, near Kettering, England, of a large-scale iron and steel plant by Stewarts and Lloyds, Limited, a company which controls some 22 iron and steel and tube-manufacturing works in England and Scotland; and produces 80 per cent, of the steel tubes made iu Great Britain. The project is stated to be the opening of a new era and a new department for the British steel industry as a whole. It is the first development of the Northampton field planned on a large scale, and it is designed to produce steel previously imported from the Continent.

Tite plan Is to erect, a’ steel works which shall cover every operation from the extraction of ore to the consignment of finished tubes to file company’s customers. The whole of that part of Stewarts and Lloyds’ tube business which is at present based on Basic Bessemer steel will lie concentrated nt the new works. Basic Bessemer steel was at one time manufactured in England on a considerable scale, but for many years it lias been loss favoured than the product of tlie open hearth process. On the Continent. however, it has been used in large volume, and in recognition of its qualities imports of that steel into England have been on a largo scale in recent years. It is proposed that Corby shall supply the demand which was formerly satisfied by such imports. The present scheme is of moderate size, tlie designed output being 300.000 tons of steel per annum. Its market in Groat Britain will bo rendered more secure by the recent tariff imposed upon iron and steel imports. The natural market will be in tlie growing engineering industries of the Midland area.

The scheme will be financed by Stewarts and Lloyds. Limited, with the help of the Bankers Industrial Development Co. A group of large banks has agreed to provide the £3.300.000 required for the all-in costs of tlie scheme. This finance will be a temporary aecommodation for tlie construetion period, and will ovontnallv be liquidated by an issue to the public of debentures or ordinary shares in Stewarts and Lloyds.

COMMERCIAL BANKING CO.

Interim Dividend of 5 Per Cent.

A cable received by the New Zealand Stock Exchange Association from the Commercial Banking Company of Sydney, Ltd., on Saturday, stated that an interim dividend had been declared for the past half-year at the rate of 5 per cent, per annum, payable at the head office, Sydney, on January 27.