LOW BUTTER PRICES

Hawke's Bay Tribune, Volume XXII, Issue 36, 26 January 1932, Page 9

LOW BUTTER PRICES

LONDON RATE DOWN TO 95/-. CHEESE QUIET AT 56/-. Heavy arrivals of butter from all producing countries and the uncertainty created by the German tariff changes, caused the market for New Zealand butter in London to fall last week to 94/96/- a cwt. This is the lowest level reached for many years, and is approximately equal to 9jd a lb., f.o.b. The wholesale price for Danish “spot” butter is down to 111/-. The retail price m London of New Zealand butter is unchanged at 1/1 a lb., and Danish has now been reduced to 1/2. The market is quiet, but the Dairy Board’s London office reports that there is an improved demand at the lower prices. The market for New Zealand cheese is quiet at 55/57/-, a decline of 1/- on the week. The retail price in London is 8d a lb. The Dairy Board is advised that Friday’s official market quotations an. as follow, those for the previous week being shown in parenthesis:— BUTTER. New Zealand: Salted, 95/96/-; ex 97/- (97/99/-; January 23, 1931, 114/ 116/-); unsalted, 110/114/- (114/116/-; January 23. 1931, 116/118/-); first whey, 90/- (92/-); second whey, 88/(90/-); 94/96/- equals approximately 9>d per lb., f.o.b. Australian: Salted, 92/95/- (96/98/-); unsalted, 104/108/- (106/110/-). Argentine: Unsalted, 94/98/- (96/ 98/-). South Africa; 87/90/- ( —). Danish: 111/- f.0.b., 118/- spot (110/-; 118/120/-)'. The board has also received the following advice from its agents in Canada:—Butter: New York, 2.3) cents ; Montreal, 20 cents. CHEESE. New Zealand: White, 56/57/- (57/ 58/-; January 23, 1931. 54/56/-); coloured, 55/56/-; ex. 57/- (56/57/-; January 23, 1931, 54/56/-; 55/57/equuls approximately fl 3-8 d f.o.b. Australian: Coloured, 53/55/- (54' 55/-). Canadian: White and coloured, 58/ 70/- (67/70/-). English finest farmers’: 100/108/-.