RISING PRICES

Evening Post, Volume CXVII, Issue 111, 12 May 1934, Page 16

RISING PRICES

BUTTER AND CHEESE

IMPROVED PROSPECTS

A comparatively sharp advance has been made this week in the price of Xciv .Zealand butter and cheese in the London markets. The cause is obscure except it be due to decreased production. Sales free' on board New Zealand have been reported this week of butter at 9Vid to 9>,&d and cheese at sd. The price for butter relates to June and July shipments: for cheese for balance of the season.

Estimated arrivals of New Zealand butter in the United Kingdom for May. June, and July this year will amount to 33,485 tons, of which 14,532 tons arrive in May. For the corresponding period of last year the arrivals totalled 27.55.3 tons, and-for the same three months of 1932 the quantity was 22,929 tons. Stocks of dairy produce iv London and the provinces as at May 1 last were 30,000 tons of all butters, compared with 29,500 tons at May 1, 1933; and of 11.000 tons Xew Zealand and Australian clieese and 4500 tons of Canadian cheese, compared with 10,300 tons of New Zealand and Australian and 3500 tons of Canadian cheese at May 1 of last year. "WEEK OF GOOD BUSINESS." The New Zealand Producers' Co-opera-tive Marketing Association today received a cablegram from London, May 11,'reading:—"'Butter market closed firm after a week of good business. New Zealand, 75s to 70s per cwt; Danish, 83s to 84s. The cheese market also closed firm and prices have been maintained for Xew Zealand white at 44s Gd and coloured at 44s to 45s per ewt." ; The Dairy Board's cabled advices from London, received today, state:—Butter market firm. . Retail prices unchanged with Danish selling lOd to lid and Xew Zealand at 9d. "Wholesale prices are as follows:— Butter. p er C wt. New Zealand 75s to 70? Danish, spot 83s to 84s Australian 73s to 74s Siberian 70s Lithuanian C9s to 72s Above are salted butters. Unsalted butter prices are: Australian, 73s to 745; Argentine, 725;. Dutch, 68s to 775; Estonian, 70s tp 71s. CHEESE PRICES FIRM. The Dairy Board is also' advised that the cheese market is firm but the retail price for New Zealand is unchanged at Sd per lb. Wholesale prices are "as follows:— • ; Cheese. ' Per ewt. New Zealand white 44s Gd to 45s New Zealand coloured .... 44s Canadian white 50s to sfis Canadian coloured 50s to s(js Cheese gradings for the week ended May 5 were 24,504 crates. FORWARD BUSINESS. Referring to free on board -transactions, A. H. Xurnbull and Co. report considerable activity by forward buyers of butter and prices as high as 9>/ 2 d have been paid tor June and July shipment. "It is interesting to note that with the rise in the spot market, buyers immediately increased their limits, still maintaining the lorward market at from 7s to 9s per ewt above spot quotations. The cheese market has to a certain extent followed uutter, but. has not mode quite such a strong rise. The market, however, today is quoted as firm at approximately Is per cwt higher than prices ruling a month aso. ... A few sales have been made ot limited quantities up to 5d per lb."