THE BUTTER MARKET

Evening Post, Volume CXXVI, Issue 9, 11 July 1938, Page 14

THE BUTTER MARKET

LACK OF DEMAND

TOOLEY STREET HOPEFUL

(.By Telegraph—Press Assn. —Copyright.) (Received July 11, 9 a.m.) LONDON, July 10. The butter market is rather featureless, due to lack of demand. This condition has especially affected Danish and other Continental descriptions of butter. The trade in Tooley Streetttakes the hopeful view that better prices will rule in the near future. The cheese market is quiet, in sympathy with butter, and some buyers fear that prices will rule lower, and therefore they are not anxious to operate at the moment. The Dairy Board by arrangement with the Primary Products Marketing Board reports business in London on Saturday, as follows: —New Zealand butter market quiet after some activity! in the middle of the week Prices at close of business and for the week before were: — July 0. July 2. Butter, salt. Per e.wt. Per cwt. New Zealand 121s-122s 323s Australian H9s-120s . 121s Danish, spot 1225-123s 1245-125s Lithuanian ... H2s-114s — Unsalted butter prices: New Zealand, 122s to 1235; Australian, 120s to 121s up to 122s for extra lines; Dutch, 110s to 113s; Lithuanian, 112s to 114s. The retail prices of New Zealand and Danish butters are unchanged at Is 3d per lb. The Imperial Economic Committee's estimated stocks of all butters in store are shown at 1,109,826 boxes, against 949,813 boxes at this time last year. The cheese market is described as "steady and New Zealand being 68s 6d per cwt for white and coloured, against | 68s to 68s 6d for the week before.." j Canadian cheese is quoted at 78s to 80s or 69s per cwt c.i.f. for white and coloured. Australian cheese, 65s to 675; English factory cheese, 65s to 665. | New Zealand cheese is selling retail at 9d per lb. ' The basic rates fixed under the New Zealand guaranteed price scheme, subject to quality differentials, are 123s 8d per cwt for butter and 70s 4£d for cheese per cwt, f.0.b., New Zealand currency. The equivalent landed price for butter in London is 112s and for cheese 675. The guaranteed price for butter is equal to 13.25 d per lb, f.o.b.