DAIRY PRODUCE

Dominion, Volume 29, Issue 257, 27 July 1936, Page 12

DAIRY PRODUCE

Butter Market Firm CHEESE STEADY The London butter market showed little change last week, New Zealand finest salted remaining steady nt about 118/-, and closing firm at that iigure. Deliveries of New Zealand butter last week totalled 1147 tone), compared with 2163 tons for the previous week, and 172 S tons a year ago. Australian deliveries were 1691 tons against 1547 tons n year ago. The Imperial Economic Committee's estimate of stocks of all butters in store is 983.674 boxes, compared witli 1,255,442 boxes a year ago. New Zealand butter in store amounts to 4057 tons, compared with 5174 tons for the previous week and "145 tons a year ago. Australian stored butter totals 3261 tons against 8122 tons a year ago. The cheese market also remained steady last week, with a slight rise in values. Deliveries of New Zealand cheese last week totalled 18,383 crates, compared with 20,563 crates a year ago. while the quantity in store is now 50,123 crates, against'l6s,l64 crates a year ago. Canadian deliveries were 4980 boxes against 4057 boxes a year ago, the quantity in store being 59,163 boxes compared with 45.704 boxes a year ago. The Dairy Board’s London office reports last week’s closing quotations as follows, those for the previous week being shown in parentheses: —

New Zealand salted (equals approx. 14.11 d. f.0.b.). 118/- to 119/- (115/- to 117/-; July 24, 1935, 92/- to 93/-) ; unsalted. 118/- to 120/- (117/- to 118/-; July 24. 1935, 96/- to 98/-). Australian, salted, 116/- to 117/- (114/to 116/-) ; unsalted, 116/- to 117/- (115/to 116/-). Argentine, unsalted, 104/- to 110/-(105/-to 106/-). _ Danish, 106/- f.0.b., 127/- to 1-8/-spot (107/- and 127/- to 12S). Dutch, unsalted, 109/- to 112/- (108/Estonian, salted and unsalted, 112/(112/-). Siberian, salted. 110/- to 112/-. Ukranian, salted, 110/- to 112/- (110/to 112/-). Polish, salted, 106/- to 108/-; unsalted, 105/- to 107/-.

New Zealand, white (equals approx. 7.01 d. f.0.b.). 62/6 to 63/- (62/- to 62/6; Julv 24, 1935. 44/- to 44/6) ; coloured, 61/6 to 62/- (61/6 to 62/-; July 24, 1935, 43./- to 44/-). Canadian, white. 70/- to 72/- (68/- to 71/-) : coloured. 70/- (70/-) ; c.i.f. white, 64/- (64/-) ; c.i.f. coloured, 63/- (64/-) ; new season’s white. 64/- to 65/- (64/-). English factory cheese, 58/-. Minimum f.o.b. Prices. The Dairy Board has fixed the minimum prices for f.o.b. and c.i.f. sales on the basis of: Butter, 14d.; cheese, 6Jd. Thi minimum prices are subject to agentsi' selling commission of li per cent. The prices are equivalent to 111/9, c.i.f.e. for butter and 57/2 c.i.f.e. for cheese. Agents’ Reports. The New Zealand Producers’ Co-opera-tive Marketing Association's weekly cabled market report from London, dated July 24, is as follows: —Butter: Market steady. New Zealand, 118/- Danish, 127/-'to 128/-. Cheese: Market steady. New Zealand white, 62/6 to 63/-; coloured. 61/6 to 62/-. Mr. Thomas Gray has received by cable from Rowson and Co., Ltd., London, dated July 24, the following: —Cheese: New Zealand, white, 63/- per cwt.; coloured, 62/- per cwt. Butter: New Zealand, finest grade, 118/- per cwt. Both markets steady.

A. H. Turnbull mid Co., Ltd., have received the following cable from their principals. W. Weddel and Co., Ltd., dated London. July 24:—Market steady. Butter: Danish, 128/-: New Zealand finest, 118/-: Kangaroo finest, 117/-. Cheese: New Zealand, white. 63/-: coloured, 62/-. Mercantile Mutual Insurance Tlie directors of the Mercantile Mutual Insurance Company, Ltd., have decided to recommend payment of a final dividend of 4 per cent., making with the interim dividend 8 per cent, per annum, for the financial year ended June 30. 1936. Last year the company's dividend was 7 per cent.