DAIRY PRODUCE

Dominion, Volume 28, Issue 111, 4 February 1935, Page 12

DAIRY PRODUCE

Butter Firm at 90/-

OPAWA FOR NEW YORK After a quiet period in the middle of last week, the London butter market firmed again at the end of the week under a good demand, and closed firm at 87/- to 90/- for New Zealand finest salted, unsalted being quoted at 92/- to 94/-. The New Zealand retail price has now been increased Id. to lid. a lb. New York inquiry continues to stimulate the market and a further vessel, the New Zealand Shipping Company’s motorship Opawa, has now been fixed to load butter for New York. The vessel is scheduled to leave Wellington on February 28 for New York and London via the Panama Canal. It is reported that 5000 boxes of butter have already been booked for shipment in the Opawa. which brings the total either left New Zealand or booked to leave shortly to over 50.000 boxes. Butter prices are still rising in New York and are now 37:} cents, compared with 353 cents a week ago. Deliveries of New Zealand butter last week totalled 2717 tons, compared with 2322 tons for the previous week and 1787 tons a year ago. The quantity of New Zealand butter in store is 5644 tons, compared with 4932 tons for the previous week and 3750 tons a year ago. The cheese market improved last week and closed steady at 46/6 to 47/6. Deliveries of New Zealand cheese last week were 20,602 crates, while the quantity in store is 94,513 Crates, compared with 31.000 crates a year ago. The Dairy Board’s London office reports Friday’s official closing quotations as follows, those for the previous week being shown in parentheses:— Butter. New Zealand, salted, 87/- to 90/(84/- to 85/-; February 1, 1934, 66/- to 67/-) (90/- equals approximately 10.3 d. f.o.b.J unsalted, 92/- to 94/- (88/- to 90/-; February 1, 1934, 72/- to 74/-). Deliveries, New Zealand, 2717 -tons; in store, 5644 tons. Australian, salted, 87/- to 88/- (82/- to' 83/-)'; unsaltetl, 90/- to 91/- (85/- to 86/-).. Deliveries, Australian, 2750 tons; in store, 2534 tons. .South Africa, salted, 84/- to 86/-. Danish, 98/- f.0.b., 118/- spot (quiet) (96/-; 116/- to 117/-). Dutch, upsalted, 107/- to 111/- (quiet) (109/- to 113/-). The board has also received the following advice from its agents in Canada: — Butter: New York, 37i cents; Montreal, 243 cents. Canadian stocks, 3128 tons, compared with 1540 tons last year. Cheese. New Zealand, white, 47/- to 47/6 (5.05 d. f.o.b. (45/- to 46/-; February 1, 1934, 42/- to 43/-) ; coloured, 40/6 to 47/- (sd. f.0.b.) (45/- to 46/-; February 1, 1934, 44/- to 45/-). Deliveries, New Zealand, 20,602 crates; in store, 94,813 crates. Australian, white and coloured, 45/- to 45/6 (44/- to 45/-). Canadian, white and coloured,' 58/- to 60/- (56/6 to 59/-). Deliveries, Canadian, 5750 boxes; in store, 118,089 boxes. English finest farmers, S2/- to 90/(8.2/- to 90/-). English factory cheese, 42/- to 45/(43/- to 44/-). Agents’ Reports. Mr. Thomas Gray has received the following cable from Mr. A. C. Rowson, dated London, February 1: —Cheese: New Zealand, white and coloured, 47/-; demand steady. Butter: Nov Zealand, finest grade, 90/-’; demand good. The New Zealand Producers’ Cooperative Marketing Association’s weekly cabled market report. London, dated Feb. ruary 2: —Butter: Market firm; New Zealand, finest, 89/- to 90/-; first grade, 87/- to 88/-; Danish. 118/-. Cheese: Market steady ; New Zealand, white, 46/6 to 47/-; coloured, 46/- to 47/-. Joseph Nathan and Company, Ltd., have received, from their principals, Trengrouse an 4 Nathan. Ltd., London, the following cabled advice, dated February I: —New Zealand butter., 90/-; vyry firm. New Zealand cheese, white 47/- to 47/6; coloured, 46/6; firm. Minimum F. 0.8. Prices' 1 The New Zealand Dairy Produce Board has fixed the minimum prices for f.o.b. and c.i.f. sales on the basis of: — Butter, 101 d.; cheese, 5?,d. Minimum prices are subject to agent’s selling commission of 13 per cent. These prices are equivalent to: —Butter, 83/6 c.i.f.c.; cheese, 45/11 c.i.f.e. GRAIN AND PRODUCE Canterbury Markets By Telegraph.—fress Association. Christchurch, February 1. Milling wheat is coming forward in large quantities. A few good yields have been reported, but generally the returns are disappointing. Some under-grade wheat has been sold to the North Island as fowl feed at 4/- for prompt. This market is very firm, the quotation for April-September being 4/3 f.0.b., s.e. There is very little doing in the oats market, farmers being busy with their wheat threshing. Inquiries continue from the North Island for forward potatoes, the price offered for April-June delivery being £5/5/a ton. f.0.b.. s.i., equal to £4 to farmers. There is no rush by growers to accept this price, the general attitude being one of waiting until the yield prospects are more definite. Reports from South Canterbury are that yields will be good, rains there having been well distributed. Crops in North Canterbury vary, but the larger proportion is likely to yield lower, particularly the earlieissown crops. Onions arc worth from £6/15/- to £7 a ton for the main crop and £7 is being paid for prompt on trucks. Some deliveries of cocksfoot have been made and there is a wide variation in quality. The seed from the sunny faces and higher tops of Banks, Peninsula is light, but on the shady sides some excellent samples have been nroduUed. For good heavy seed 7-}d. to 7Jd. on trucks is available. The Plains crop is turning out well and threshing is now in progress in this locality. Like cocksfoot, the ryegrass sample is varied. There has been a substantial clearance of last season’s carried-over stocks for shipment to England and some new season’s is included. For the new crop from 4/- to 4/3 a bushel f.0.b., s.e.. has been paid for machine-dressed seed for export. The quantity involved in the export approximates 4000 sacks. Good seed is wortli 2/3 on trucks, instances being reported of up to 2/6 for specially good samples. Overseas Wheat Markets Bv Telegraph -Press Assn. —Copyright (Received February 3. 6.30 p.m.) London, February 2. Wheat cargoes are in steady demand, but quiet. Manitobas are held for full prices l . Australians occasionally 3d. lower. La Platas are occasionally easier on lower Plate cables. Parcels are mostly at lid. a 11). to 3(1. decline. Futures: London, February-April. 20/1 a quarter; June, 20/10. Liverpool, March. 4/9} a cental; May. 5/03; July. 5/2 1-8. Bv Telegraph.—Press Assn.—Copyright New York, February 2. Chicago wheat futures: May, 90} cents a bushel; July, 88 7-Sd.; September, 873. New York, cash, 115 5-8 cents.

Gold Mining Returns By Telegraph—Press Association. Dunedin. February 3. The Paddy’s Point Company reports a return of 340 z. for the six weeks ended January 31. The Brian Born dredge return for the week ending February 2 was 20oz. 16dwt. for 108 hours from 11,080 yards. The dredge is now in the vicinity of No. 7 bore. Waihi Gold Mine The following information has been cabled to the London office of the Waihi Gold Mining Company, Limited :• — For the period ended January 19, comprising 13 crushing days, 10,797 tons of ore were crushed for a result of 3043 fine ounces of gold, and 18.675 fine ounces of silver. This included 1016 tons from the Grand Junction area which yielded 246 ounces of gold and 667 dunces of silver. < T» 1 Surface. —The north-east crosscut from School drive has been stopped. No. 2 Level.—Edward lode south: We are now ta'osscutting to the north-east. No. 5 Level. —Martha lode: The north-west crosscut at 800 ft. west has been discontinued at 375 ft. as the No. 7 level crosscut will traverse the same ground. North branch of Martha lode: For the next 29ft. west the reef is broken up and of little or no value. No. 7 Level. —North branch of Martha lode: Driving is suspended at 634 ft. west, and we are now’ opening out west on a vein at 555 ft. No. 12 Level.—Edward lode: Driving south the next 29ft. assays 27/6 a ton and the next lift. 3/6 a ton. Junction No. 6 Level. —We have commenced a crosscut to the south-east at a point 365 ft. west of N«- 1 shaft southeast. crosscut and nt 31ft. in have intersected quartz Bft. wide assaying 10/9 a ton. 'Phis is the south part of the Boyal lode. Big River Report Big Uiver GohpMiiiing Ltd. report for week” ending January 31:—No. 4 north drive: Advanced 5 feet. No stone yet to hand. Appearances favourable. Stope progressing satisfactorily. Rise up 33 feet from Hour of level. Two feet stone in face. No. 4 south drive: Advanced 7 feet on footwall leader. Shows signs of increasing in width. Lending stope producing good stone and looking well. Main shaft: GSootl progress is being made repairing shaft No. 4 level downwards. Battery: Supply of stone to buttery restricted owing to the horizontal spur wheel of aerial tramway breaking. Cleaning up for mouth of January.

RAW MATERIALS

Last Week’s Closing Rates By Telegraph.—Press Assn. —Copyright. (Received February 3, 6.30 p.m.) London, February 2. Friday's closing prices for the following raw materials were as follow, those for January 25 being in parentheses:— Cotton: Liverpool quotation. good American middling, spot, 7.07 d. a lb. (7.08 d. ; March delivery, 6.83 d. a lb. (6.52 d. Rubber: Para, 4 7-Sd. a lb. (same); plantation smoked ribbed sheet. 6 1-Sd. a lb. (6 3-Sd.). Jute: Februnry-March shipment. Indian jute, Dundee quotation. £l7/10/- a ton (£l7/12/6). Copra: Febrnary-Marcli shipment. Squill Sea. £ll/12/6 a ton (£ll/10/-): smoked. £ll/12/6 a ton (£ll/10/-): plantation Rabaul. £l2/2/6 a tou (£l2 5/-). Linseed oil: £2l/10/- a tou (£22 10/-). Turpentine; 47/6 a cwt. (same).

London Rabbit Market

By Telegraph.--Press Assn. —Copyright (Received February 3, 6.30 p.m.) London. February 2. Rabbits: First large, ex store, 16/6 to 17/-.

AUCTION DIARY' TO-DAY. Oriental Parade. "Crnigsidc.” 1 p.m.— House furnishings (Johnston). Upper Hutt. 3 p.m.—Racehorses. TO-MORROW. Taiiuiarunui ewe fair, in a.m. 8 Willcston St.. 1 p.m.—Furnishings (Johnston). Tory St., 10.30 a.m.—Timber (Johnston). Levin sale. 11.30 a.m. WEDNESDAY. Brandon Si., 1.30 pin.—Furniture (J. H. Bcthuncf. Johnsonville fat stock sale. 1 p.m.