BUTTER MARKET FIRM

Dominion, Volume 32, Issue 260, 1 August 1939, Page 12

BUTTER MARKET FIRM

New Zealand At 120/“ CHEESE PRICES LOWER The price of New Zealand butter in Loudon on Friday stood at 120/- a cwt., compared with 122/- to 124/- for the preceding week. According to the cabled report supplied by the Primary Products Marketing Department to the Dairy Board the market was firm at the close after active buying in the middle of the week at lower prices. Friday's closing quotations, with those of the preceding week in parentheses, were as follows: —• , , New Zealand, salted, 120/- (122/- to 124/-; a year ago, 121/-) ; unsalled, 120/(123/-; a year ago, 122/-). Australian, failed, 110/- to 111/(112/- to 114/-) ; unsalted, 110/- (112/lO6- f,0.b.; 127/- to 128/- spot (108/-; 129/-to 130/-). Dutch, salted and unsalted, IOG/- to 108/- (108/-). Irish. cream., salted, 1-0/- (1-1/-). Lithuanian, unsalled, 108/- to 110/(112/-). Market quiet. . Polish salted and unsalted, 104/- to 106/- (106/- to 108/-). Market steady.

South African, JOO/-. Market slew. Jtetail prices were unchanged, New Zealand al 1/3, and Danish at 1/4 a lb. Deliveries of New Zealand butter from store last week were 1120 tons, as against 1083 tons for the previous week. The quantity in store was 4374 tons, as against 5486 tons a week earlier, and 6440 tons a year ago. Deliveries of Australian butter. last week were 1189 tons, as against .1346 tons for the preceding week. The quantity in store was 7719 tons, compared with 5936 tons a week earlier, and 4.119 tons a year ago. After exceeding the London equivalent of the guaranteed price of 124/3 about a fortnighit ago. the price of New Zealand butter has again fallen below-the guarantee. Prices are now slightly lower than those at the same time last year. A feature of the market is still the large premium enjoyed by New Zealand butter over Australian.

The present price of 120/- is equal_ to approximately 14.35 d. per lb., f.0.b., New Zealand ports, compared with the guaranteed price of 14.8Vd. per lb., f.o.b. The London equivalent of the guaranteed price is 124/3 per cwt.- The equivalent price of eheene is about 6.83 d. per lb. f.0.b., compared with the guaranteed price of 8.42<i. The cheese market was quiet last week, and prices- declined further, New Zealand white being 3/- down at 63/-, and coloured 3/- lower at 62/-. Friday's closing quotations, with thosie of the previous week in parentheses, ivere as follows: — New Zealand, white, 60/- (63/-; a year ago, 6S/6) ; coloured, 62/- (65/-; a year ago, 68/6 to 69/-). Australian, white, 56/- to 58/- (59/- to 62/-) ; coloured, 58/- to 60/- (61/- to 63/-). Canadian, white and coloured, 62/- to 63/. (_) ; e.i.f., 60/- to Gl/- (59/- to 60/-); old, season’s, white and coloured, 73/- to 76/- (74/- to 75/-). English, finest farmers’, 78/- to 84/-; factory cheese, 56/- to 64/-. The retail price of New Zealand cheese was unchanged' at Sd. a lb. Deliveries of New Zealnnd cheese front store last week were 11,045 crates, as against 13,121 crates a week earlier. The quantity in store was 76,761 crates, compared with 81,670 crates a year ago. Deliveries of Canadian cheese last week were 5482 boxes, as against 4771 boxes for the preceding week. The quantity in store was 99,924 boxes, compared with 7’7.462 boxes a year ago.

Gradings of New Zealand cheese for the week ended July 22 were 314 crates of white, and 132 crates of coloured, a total of 466 crates.