BUTTER RISES ANOTHER 2s.

Evening Post, Volume 137, Issue CXI, 10 June 1926, Page 11

BUTTER RISES ANOTHER 2s.

Local brokers have received the following advices from London, dated the 9th Inst. :— New Zealand Loan and Mercantile Agency Co., Ltd.: "Dairy produce.—Butter: New Zealand choicest, 176s per cwt (172s to 1745). Cheese: 95s per cwt (925), 91s per cwt (935). Market firm." Dalgety and Company, Ltd.—i'Buttcr: Since our report of yesterday, quotations are 2s higher. AYe quote New Zealand finest salted, 1765."

Messrs. A. H. Turnbull and Co. report, under, date Sth Juno: —The following are the top weekly quotations, as received from our principals, Messrs.' W. AVeddel and Co., Ltd., London: Danish butter, 21th May, 1745; 29th -May, 1725; sth June, 178s; New Zealand salted, 2-ith May, 1745; 29th May, 1725; sth June, 170s; New Zealand uusalted, 24th May, 1725; 29th May, 170s; sth June, 1745. Cheese, white, 24th May, 945; 29th May, 935; Sth June, 935; coloured, 24th May, 945; 29th May, 935; sth June, 935. On 19th May there were no quotations owing to strike. The above quotations bear out Messrs. W. AVeddel and Co., Ltd.'s, cabled expectations that immediately following tho strike the market would be very slow, with lower values. Quotations for last week, however, show a considerable improvement. . Messrs'. AY. AVeddel -and Co., Ltd., cable us that there has been a better all-round, demand, and a certain amount of speculative buying is being indulged iv, in consequence of disparaging reports regarding Continental supplies. At the present time, owing to the fact that so much butter is being held off the market by instructions of the shippers in New Zealand, there is only a limited quantity of New Zealand butter available. It is anticipated, however, that should the demand continue and prices rise to tho vicinity of 178s to IgOs, sufficient quantities of butter will be released to meet tho demand and steady the market. Stocks of butter in store In New Zealand are considerably in excess of the quantities in store at thi3 time last year, and consequently there will be heavier arrivals during August and September, and this also will be inclined to have a steadying effect on buyers. From grading figures which are just available it is interesting to note that New Zealand butter production will be close on SOOO tons, short of last season. The cheese market Is steady at round about 935, but Canadian new season's fodder cheese is being quoted at very much lower figures, ■ and with these lower quotations for Canadian new season's .cheese, the market is somewhat depressed. Thero are close on 11,000 tons of cheese in store in New Zealand at the end of May, as compared with approximately 3000 last season, so that the .'arrivals in the next few months in! the United Kingdom will certainly be considerably in excess of the arrivals in previous years.