POUND AND DOLLAR DAIRY PRODUCE PRICES BACON AND EGG TRADES

Evening Post, Volume CXIV, Issue 26, 30 July 1932, Page 16

POUND AND DOLLAR

DAIRY PRODUCE PRICES

BACON AND EGG TRADES

The following are still the current ex change rates New. Zealand ,on London, oj the basis of £100, London:— Buying. £ s! ( Demand '. 108 10 ( 30 days' ....i......;v......... 108 3 1 60 days ......;.:..,...... 107 17 ( CO day ...., 107 11 ', 120 days 107 5 ( Selling. T.T. .'. 110 0 ( Demand ......V 109 10 ( 80 days 109 6 . 60 days ...,'...;; ." 109 2 ( 90 dayg 108 18 !

The '£1 sterling-went to 'a very lov point in relation to the United State dollar on' Thursday, ' Exchange Unitec States on London being quoted 'at 3.50 5-S This jg not the lowest rate since Englam ■went off gold, for on 4th March lasfttn £l fell t0'3.50 3-S. When, the gol< standard was departed from on 21st Sep tember last par exchange had stood. a 4.86 dollars; on '23rd. September. it' fel to 4.10% dollars, and on 25th Septembe to' 3.75 dollars.

Messis. Dalgety and Co. are advised by jj- Messrs. Samuel Page and Son, London, as *« follows: —"Butter. —Market slow. Danish, I, .-116* to 120s (116s to 118s); New Zealand, • finest ealted, 105s to 106s (105s to 107s); ( " Australian, ' finest unsalted, 10js to 107s :"' (106s to 108s), finest salted, 100s to 102s » (102s to '104s), average, 96a to 98s (98s to 4 ,100s). Cheese.—Market slow. New ZeaJ" land, -white, 55s to 56s (58s to 595). New J; Zealand, coloured, 54s to 55a (57s to 58s); •,> spot price for Canadian white, 56s to 57s J; '(57s to 595), coloured, 55s to 56s (57s to • 58s); c.i.f. price for Canadian, 53s to 56s H, ■ (56s to 575). (Last week's quotations are 5" shown in parentheses)." 2' Messrs. A. J. Mills, London, advise:— • • "Butter market slow, cheese market J H steady." Messrs. A. S. Patersftn are ad- *' vised by Messrs. J. J. Lonsdale, London: •a. "Butter quiet, cheese weak."

J Supplies of bacon to the United Kingdom ,*• were, according to the Empire Market-" " • ing Board, on an unprecedented scale in *'„ 1931. i Imports rose by 1,950,000cwt or «. ;,21 per cent, compared with 1930, which was !." in itself a record year. Compared with *t the^ average b£ the five years 1925-29, im- *. ,pdrts showed an increase of 37 per cent. Z'* The board suggests that the peak of the » . European "pig-cycle" was reached last 5/, year. British imports . from Denmark J Irose by 21 per cent., and accounted for r - 'nearly two-thirds of. the total' bacon imports. Poland doubled her exports'to the United Kingdom, - and displaced the Netherlands as the next most important source of supply. Imports from the Netherlands, Sweden, and Lithuania also " lose. Russian exports .to England dechn- , cd. " i Empire supplies represented only a small part—3 per cent.—of total imports. The pig population of the United Kingdom increased by 19 per .cent." in 1931. In Denmark', ■"theie aie signs," states the boaid, "that breeding has become relatively unprofitable. „ . supplies, therefore, may deJf cline" towards the^end of 1932." In other «. countries the,same tendency towards re-, J"."' d«cing/_breeding .-.stocks is at- work, and j- ,the boardjs re'port| suggests that a i matelial *l 'decline in foieign bacon supplies may »* < Over 3,100,000,000 eggs, i cached ,the .il y United Kingdom last year. This was a £ .decline* of 2 per "cent."'compared with Jhe v 1.1930 record.' Home.production of- eggs *? nmounted to-about half the total consump- ; .tion between 1 1024 and'l929. Since then, » home production has been increasing at **~ the rate of about 4 per cent, a year. "Sinco ;• their introduction m the spring of 1929, r. National Mark eggs have been cbnsistentj, ]y higher in price than the highest grade '-viniported, and'this premium was mnintain- .- Ed during 1931," states the Empire Mar- ; keting Board's report. Per capita con ; sumption of eggs last year was about 140.