THE MARKET POSITION

Evening Post, Volume CX, Issue 12, 14 July 1930, Page 12

THE MARKET POSITION

I'he Dairy -Board reports prices, London. 11th July, as follows:—

Butter:1 New Zealand, salted, 134s to 1365, up'to 1375; unsaltcd, 146s to 150s; first' whey, 126s;■ (Second whey, 121s. Australian, salted, 131s' to 1345; unsalted, 130s to 1345.. Argentine, .unsalted, 121s to 130s. Irish, salted, 1365; unsalted, 140s. Danish; 142s f.0.b., 137s to 14Ss. Esthonian, 138s. Siberian, 130s. Ukranian, 1325. Polish, 110s to 1265. French baskets, salted, 138s to 140s. Retail' prices, New Zealand salted butter is 5d per 1b; Danish, Is 6d. Cheese: New Zealand, white, 75s to /7s; Coloured,' 81s to 83s. Canadian, white 80s to 83s; coloured, 81s to 81s. English, finest farmers, 90s to 945. Retail price, New Zealand cheese, lid per pound. The New Zealand Producers' Co-opera-tive Marketing Association's weekly cabled market report from London gives the same prices,: describing the butter market "steady," and the cheese market "quiet." Messrs. A. J. Mills, London, advise "butted slow," "cheese quiet." Messrs. Dalgety (from Samuel Pago and Son, London) report "butter rather more doing"; "cheese market quiet." Messrs. Joseph Nathan report that, although the market is a little weaker as compared with late ruling rates, there appears to be a quiet confidence abroad which has'not been in evidence Kince the phenomenal elide in values. "Deliveries during the last month or so show a decided increase as compared with the same period last year, and we hope the raising of.the retail price in London to Is 0d per IK, will, not tend to check consumption.' Stocks in store, London, have continually; fluctuated between 1500 tons to 2000 tons

in excess of last year's figures, and we are afraid any real and definite improvement in values cannot be looked for until these surplus stocks have been liquidated, or at least in considerably lower compass than they are at present." The firm reports f.o.b. business in butter dining thfe past few-days'as done at If 2cl per pound, and even as high as Is 2%d per pound." HIGH AUSTRALIAN PRICES. Current rates for Australian salted butter in London (Dairy Board's cablegram) and iv Australia compare as follow: — Per cwt. ■ London 131/- to 134/Sydney 184/Melbourne 18(3/8 Adelaide 203/Brisbane 205/4 The great disparity between prices of Australian butter in London (from which have to be deducted shipping freights, marine insurance rates, commissions, and other charges incidental to export), and the price of the same butter in the chief centres of Australia is- accounted for by the operation of the Paterson plan in Australia, by which the local price is raised to anything from 53s to 74s per cwt above, the price obtained for it in London, all charges of transport and handling being deducted from the market return.