BUTTER MARKET

Evening Post, Volume CXVIII, Issue 96, 20 October 1934, Page 12

BUTTER MARKET

WEEKEND RECOVERY

FORWARD BUYING

'■Evening' Post," October 20.

A welcome change has taken place in the New Zealand butter market in London. During the week prices were as low as 625. Recovery came on Thursday, when Press and private cablegrams reported a"firm' 'market and a slight advance on prices at the close of business. lu-ee on board sales are reported _ at about S 1-Sd per lb this week for November shipments. This would indicate a return of confidence in the future of the market. Incidentally lor this season at latest returns, f.o.b. sales of butter only amounted to 2 per cent. o£ the quantity shipped, as against 27 per cent, for the corresponding two months of last season. Although the stocks of all butters held in the United Kingdom as on October 1 were higher by 13,000 tons when compared with stocks at the same time last year, they showed a substantial reduction on the returns as at August 31 last when 45,700 tons were in store. It was 6tated in this column at the time that from forecasts made of the butter position ahead it would appear that it will not be woree, but possibly better, than that of last rear. Taking into account British imports of butter to the end of this calendar year with the present rate of consumption, the position in December next should compare favourably with, that ot total arrivals of Australian and New Zealand at the end of last year. From present indications it would appear that at the end of the year stocks of all butters will have materially declined, as not only are British imports; from Denmark and New Zealand likely to be less—as they were during last month— but consumption has materially expanded, due no doubt to the attractive price ol butter and ite extended use-in households j where margarine was in general (jrae. British consumption of butter is now running at a level of 800 to 1000 tons a week higher than at'this time last year. Estimates of British imports for the month of December are in the direction of about the same as those for laat year, it not lower. Deliveries of New Zealand butter only for the month o£ September averaged 1457 tons a week. OFFICIAL REPORT.

The Dairy Board's weekly Londoti cablegram received to day states: "Improved demand for butter at lower price. New Zealand salted is quoted at 64s To ti6s and extra lines 70s. •• Unsalted, 74s to 765. Deliveries of New Zealand butter this week were 2582 tons, compared with 1967 tons for the corresponding period ot last year. N.Z. butter in store was 347S tons, compared with 675 tons at this time Danish' butter is quoted at 112s per cwt spot and on a firm market, compared with 107s last week. ' • Retail priee9 are unchanged at Is Hi per lb for Danish and 9d for New Zea> The Imperial Economic Committee's report (the board is advised) is that eshmated stocks of all butters are 1,218,414 boxes, compared with 795,842 boxes at this time last yeai\ ~ Reports received by local firms by cable"ram from London today are as follows:— The New Zealand Producers Co-opera-tive Marketing Association is advised by its London office by cable, October 19, as follows:—Butter market is . better New Zealand, finest, 64s to 66s per cwt; first, 63s to 64a. New Zealand cheese market is firm. White and coloured, 4Ss to 4JjSi CNathan and Company, Ltd., have received from Trengrouse and Nathan, Ltd., London, the following cabled advice dated October 19.—New Zealand butter market .firm. New Zealand cheese market firm; white, 50s per'cwt. _ ■ A. J. Milk and Co., London, advise the following market prices as Ruling a£the Hose of ■ business on Thursday last. Better: Market is firm. New Zealandfinest 66s per cwt, firsts 64e (cold stored 2s less); Australian,, choicest Oos, first grade 64^; Daßish, spot 104s to 106s fo£ <W Siberian, 61s to 625;. Baltic States, 62s'to 64? Cheeae: Marketis firm. New Zealand,-white 48s to '4§b 6d...coloured .4te to 48s 6dl.Canadian, c.i.f. white 48s. c.i.f. "Wto.bull and Co.. Ltd, from W. Weddel and Co., Ltd.:-There is a better demand for butter. Danish, 112s per cwt; New Zealand, finest, 63s to 665; Ivanga-wo.finit.-e28.t0 655. Chee ? e market is iirm. New -Zealand, white 4Ss to 4y o , coloured 4Ss to 48s 6d. F. 0.8. QUOTATION. The Dairy Board has .fixed the minimum prices for f.o.b. and e.i.f. sales on Se basis of:-Butter, 8 l-8d; Minimum prices are subject to agents' selling commission of, Vk per cent. Llgety and Co. have received the following from Samuel Page and Son, Ltd , London, October 18 :-Butter: Market "Steadier. Danish, 107s to 109s; New Zealand? finest salted, 62s to 655; Australian finest unsalted 64 3 to 68s, salted 62s to «te; G.A.Q., 60s to 61s. Cheese: Market steady at present prices: New Zeal'ißd, white 48s to 48s 6d, coloured *»6d to 495; spot price for Canadian, white jOs to 02s, coloured 50s to 525: WHEAT AND FLOUR. (By lelegraph — Press Assn.—Copyright.) LONDON, October 18. Wheat cargoes are inactive, and lower Parcels are in small request at 3d to pa London, February, 22s 5d per quarter, April, 22s lid; Liverpool, October, 4s ll%d per cental; December, os 2/scl, March, 5s 6Vsd; May, 5s 7%d. . Spot trade is slow with easier tendency. Australian, ex-sliip, 27s 6d to 2Ss 6d. Flour is quietly steady, and Australian ex-store, 20s Cd to 21s. Oats are slightly easier. Peas and beans are quiet and unchanged!: DIVIDENDS DUE. \ Due. South British Insurance—final. Is 4d per share, at rate of 13 1-3 per cent, per annum " Oct. Sa lianlc of Adelaide—interim at the rate of 4 per cent, per annum Oct. 31 Amalgamated Wireless—final, 6 petDrliK Houses of Australia—final. 2 per cent., making 3Vs per cent, per annum Oet- 31 rrestlec,' Ltd., Australia—lialf -yearly, prefv'S per cent, per annum: ord., .at rate of S per cent, per annum 'Nor. 1 tvailii—interim, Is -per share. Nov. 1 Imperial Chemical Industries—half- ■-. yearly. 2>,4'per cent Ko''- "■ D.1.C., Dunedin—final prcf., at rate of 5 percent, per annum; ordinary 5 pct1 cent per nrinum Nov. 1 Sjiarlan'] and Co.—filial on ord. and pref. at rate of "i \>er cent, per ' . annum ' ..: -vot. S Perpetual Executors and Trustees' Association of Australia—lialfysarly'at 6 per cent, per annum Nov. 14 Tattersfleid, Ltd.. Auckland—G per cent, per annum Nov. la Broken Hill Proprietary, half-yearly —Is per share Australian currency "Sor, -I National .Bank of Australasia —interim at rato of 5 f).fi. per an- ' num on £5 and £10 shares .. Nov. 28 Aiistralian Class—pref., 4V= per cent.; ord. Interim, 5<4 per cent Dec. 1