DAIRY PRODUCE

Dominion, Volume 29, Issue 98, 20 January 1936, Page 12

DAIRY PRODUCE

Prices Again Decline BOTH MARKETS SLOW . The London butter market continued quiet and slow last week, prices showing a further decline to ‘JI/- to 92/- for New Zealand finest. Deliveries of New Zealand butter last week totalled 1832 tons, against 2311 tons for the previous week, and 2022 tons a year ago. Australian deliveries were 2202 tons, compared with 2726 tons a year ago. New Zealand butter in store now totals 2338 tons, compared witii 3118 tons for the previous week, and 5285 tons a year ago. Australian stored butter amounts to 3651 tons, compared with 3317 tons a year ago. The cheese market also was very quie: last week, New Zealand white dropping to 53/-, and coloured to 57/-, Deliveries of New Zealand cheese last week totalled 15,157 crates, against 20,501 crates a year ago, while the quantity in store lias fallen to 38,847 crates, against 76.040 crates a year ago. Canadian deliveries were 4645 boxes, compared with 6952 boxes a year ago. while the quantity in store is 132,343 boxes, compared with 131.381 boxes a year ago. The Dairy Board’s Loudon oiliee reports last week’s closing quotations as follow, those for the previous week beine shown in parentheses:— Butter. New Zealand, salted, 91/92/- to 93/ (equals approximately 10.67 d. f.0.b.) (96/- to 97/-; January 17, 1935, 79/- to 82/-); unsalted, 102/- to 104/- (102/- i<> 104/-; January 17. 1935, 84/- to 86/-). Australian, salted, 90/- to 92/- (95/- to 96/-); unsalted. 98/- to 100/- (101/- to 102/-). South Africa, 86/- to 91/-. Argentine, unsalted, 96/- to 98/- (91/ to 100/-). Danish. 94/- f.0.b., 115/- to 116/- spot (100/-, 122/-). Danish spot market weaker. Polish, ealted, 88/- to 90/-: unsalted 92/- to 93/-. Dutch, unsalted. 94/- to 10u/- (96/- 1" 109/-). Cheese. New Zealand, white (5.9 d. f.0.b.). 5-1/-(56/- to 57/-; January 17, 1935, 45/- to 46/6) ; coloured (6.35 d. f.0.b.), 57/- to 58/- (60/- to 61/-: January 17, 1935. 45/to 46/6). Australian, white, 52/- to 53/-_(53/- t<> 55/-) : coloured. 54/- to 57/- (57/- to 59/-). Canadian, white. 59/- to 62/- (;>!)/- to 62/-); coloured, 60/- to 64/- (61/- to 64/-) ; old season’s, white, 64/- to 68/(64/- to 68/-). English, finest farmers’. 96/- to 106/(96/- to 106/-). English factory cheese. 48/- to 52/(48/- to 50/-). Minimum f.o.b. Prices. The New Zealand Dairy Board has fixed the minimum prices for f.o.b. and c.i.f. sales on the basis of:—Butter, lid.; cheese, s|d. Minimum prices are subject to agents’ selling commission of 1-} per cent. The prices are equivalent to 89/1 e.i.f.e. for butter and 49/7 c.i.f.e. for cheese. War Risk. Tlie Dairy Board lias been advised by its London oflice that a war risk of 1/per cent, has been arranged for the following vessels: —Ilangitane. Port Wyndham. Norfolk. Cornwall and Coptic. Agents’ Reports. Mr. Thomas Gray has received the following cable from Rowson and Co., Ltd., dated London, January 17 : —Cheese, 53/6 per cwt., white; 57/6 per cwt. coloured. Butter. 90/- per cwt. first grade; 91/- per cwt. finest grade. Both markets rather weak. : .

Joseph Nathan ami Company, Ltd., have received from their principals, Tron~ grouse and Nathan,_ Ltd., London, the following cabled advice, dated January 17-New Zealand butter, 90/- to 91/-; market firmer. New Zealand cheese, white -53/-.- coloured 57/-; market very quiet. The New Zealand Producers’ Co-opera-tive Marketing Association’s weekly cabled market report from London, dated January .17. .is. as follows :—Butter : Market slow.. ■ New- Zealand, finest grade, 90/to 92/-; first grade, 90/-. Danish, 115/to 116/-. Cheese: Market quiet. New Zealand, white, 53/6 to 54/-; coloured, 57/- to 58/-. A. H. Turnbull and Co., Ltd., have received the following cable from their principals, W. Weddel and Co., Ltd., dated London, January 17: —Both markets slow. Butter: Danish, 115/-. New Zealand finest, 91/-. Kangaroo finest, 90/-. Cheese: New Zealand white, 53/-; New Zealand coloured, 57/-. Overseas Produce Markets Melbourne, January 17. Wheat, 3/10 a bushel. Elour, £l2/10/a ton. Bran, £5/10/-. Pollard, £6. Oats, 2/2 to 3/2 a bushel. Barley, English. 2/10 to 2/10J. Maize, 5/2 to 5/3. Potatoes, £6/15/- to £7. Onions, £6 5/-. London, January 16. Wheat cargoes are 3d. to 6d. dearer, and parcels are firmer. Futures: London —January, 31/6 per quarter; July, 31/1. Liverpool—March, 6/7 3-Bd, per cental; May. 6/41; July, 6/4J. ■ Spot trade is quiet. Australian, ex ship. 33/-. Flour is steadv. Australian, ex store. 23/- fo 23/3. New York, January 16. Chicago wheat futures: May, 100 3-8 cents per bushel; July. 88 7-8: September. .87 3-8.

Bryant and May Profits Bryant and May. Ltd., the British match manufacturers, made for tlie company’s last trading year net profit amounting to £571.249. against £561.722 for tlie preced iug year. The sum brought forward was £65.248 Interim dividends absorbed £121.107. For the second half of (he year dividends ami distribution under _the comirlnersbin scheme took £335.935, leaving £82.455 to carry forward. A bonus dividend of £250.000 also was paid, and carried by the British Match Corporation. Ltd., owner of all tlie ordinary capital. to its reserve account. Of tlie £250.000. £150.000 will come from the reserve fund of Bryant and May. Ltd., which with transfer fo it of £lOO.OOO. will then be £700.000. Investments in British and Dominion Government securities liad a market value of £858.300. Paid-up capita] is £1.961.451. The company is controlled by the British Match Corporation, Ltd., mid owns interests in factories in Groat Britain. Australia. New Zealand. South Africa. South America, and Canida. Paid-up capital of tlie British Match ('orporation is £6.712.500