BUTTER MARKET

Dominion, Volume 32, Issue 172, 18 April 1939, Page 12

BUTTER MARKET

Sharp Decline In Danish CHEESE PRICES STEADY By Telegraph.—Press Assn.—Copyright. LONDON, April W. The Ibutter market is featureless with the exception of a sharp drop in the price of Danish. The dairy produce markets are expected to continue unsatisfactory so long as the tension on the Continent lasts. The Imperial Economic Committee estimates stocks of all butters in store in the United Kingdom at 734,551 boxes, against 629,012 boxes last year. London pj-ices for Continental butters were definitely easier last week, with a sharp decline of 6/- a ewt. for Danish and 3/- to 4/- for Dutch. New Zealand salted was a shade firmer at 11-1/- to 115/- a cwt. According to the cabled report supplied by the Primary Products Marketing Department to the Dairy Board, there was an improved demand at the end of tbe week. Friday's closing quotations, with those of the previous week in parentheses, were as follows : — New Zealand: Salted, 114/- to 115/(114/-; a year ago, 121/- to 123/-) ; unsalted, lIS/- (118/-; a year ago, 123/- to 124/-). Australian : Salted, 112/- to 113/- up to 114/- (113/-) ; unsalted, 114/- to 115/(114/- to 115/-). Danish: 105/-; 126/- to 127/- spot (111/-; 132/- to 133/-J. Dutch: Unsalted, 105/- to 107/- ex. 110/- (109/- to. 111/-). Lithuanian: Unsalted, 112/- to 114/(114/- to 115/-). Polish: Salted, 107/- (109/- to 110/-) ; unsalted, 107/- (.110/-). South Africa : 105/- to 109/-, ex. 110/(106/- to 110/-). The retail price of New Zealand butter in London is 1/2 a lb. and that of Danish 1/4. Tbe present wholesale price of 114/6 is equal to approximately 13.65 d. a lb., f.0.b.. New Zealand ports, compared with the guaranteed price of 14.89 d. a lb,, f.o.b. The London equivalent of the guaranteed price is 124/3 a cwt. The equivalent price of cheese is about 6.7 d. a lb. f.0.b., compared with the guaranteed price of 8.42 d. Deliveries of New Zealand butter from store last we.ek were 1325 tons. The quantity in store, including 375 tons ex Port Dunedin and Wairangi, was 5977 tons, as against 5335 tons a year ago. Deliveries of Australian Ibutter last week were 1337 tons, the quantity in store being 2851 tons, compared with 3586 tons a year ago. The New Zealand cheese market is unchanged at 60/- a cwt, which is 10/- a cwt. below tbe price ruling 12 months ago. Friday’s closing quotations, with those of the previous week in parentheses, .were as follows :— New Zealand: White and coloured, 60/- (60/-; a year ago, white 70/-, coloured 70/6). Australian: White, 52/- to 56/- (02/to 55/-) ; coloured, 54/- to 57/-, ex. 58/(not quoted). Canadian: White. 70/- to 74/- (71/to 73/-) ; coloured, 70/- to 73/- (71/- to English : Finest farmers, 88/- to 100/(88/- to 100/-). South African : White, 50/- to 56/-: coloured, 50/- to 54/-. The retail price of New Zealand cheese is unchanged at Sd. a' lb.

Deliveries of New Zealand cheese from store last week were 12,316 crates. The quantity in store, including 5542 crates ex the Wairangi, is 100,723 crates, compared with 70,782 crates a year ago. Deliveries of Canadian cheese last week were 4117 boxes, the quantity in store being 81,516 boxes, as against 66,074 boxes a year ago.