THE STATISTICAL POSITION

Evening Post, Volume CXX, Issue 115, 11 November 1935, Page 12

THE STATISTICAL POSITION

(By Telegraph.—Press Assn.—Copyright) LONDON, November 9. The butter market has become steadier. The position is thus described by one of the leading dealers: "The beginning of the present week found the market very depressed. Desperate efforts made by speculators to cut losses, a total absence of fresh speculation, together with only hand-to-mouth buying by distributors, caused prices to sink still lower. Despite this, the statistical position is even stronger than when prices were over 20s a cwt higher 1A sudden change occurred on Thursday. Orders came from all directions and had the effect of lifting prices well above bottom. As bulk speculative butter appears to have been cleared and only small arrivals are expected during the next two weeks, an early I relapse is improbable."

A. H. Turnbull and Co., Ltd:, have received the following cable from their principals, W. Weddel and Co., Ltd., dated London, November B:—The butter market is firmer. Danish, 124s per cwt; New Zealand, finest, 104s; Kangaroo,, finest, 103s. The cheese market is firm. New Zealand, white and coloured, 53s per cwt.

Joseph Nathan and Co., Ltd., received from their principals, Trengrouse and Nathan, Ltd., London, the following cabled advice, dated November 9:—New Zealand butter, finest 106s per cwt, first 104s. New Zealand cheese. 53s per cwt. Markets very firm. The New Zealand Producers' Cooperative Marketing Association's weekly cabled market report from London dated November 8, is as follows:— Butter market has closed steady after a quiet week. New Zealand, finest grade 99s to 103s, first grade 98s to 100s; Danish, 1245. Cheese market is steady with more inquiry. New Zealand, white and coloured, 49s to 51s.