DAIRY PRODUCE.

Manawatu Standard, Volume LVIII, Issue 178, 28 June 1938, Page 4

DAIRY PRODUCE.

A FIRMER MARKET.

The price of New Zealand butter on the London market advanced 4s to 5s a cwt. last week, closing on Friday at 1245. According to the report received by the Primary Produce Marketing Department the market closed firm, Friday’s quotations, with those for the previous week in parentheses, being as follow:

New Zealand. —Salted, 124 s (119 s to 120 s; a year ago, 109 s); unsalted, 124 s to 125 s (120 sto 1225; a year ago 110 s to Ills).

Australian. —Salted, 121 s to 122 s (116 s to 118 s); unsalted, 123 s (118 sto 120 s). Danish.—loss f.o.b. ; 125 sto 126 s spot (102 s; 122 sto 1235). Dutch. —Unsalted, 114 s to 115 s, ex, 117 s (110 s). Lithuanian.—Unsalted, -117 s to 118» (114 s).

The basic rates fixed under the New Zealand guaranteed price scheme, subject to quality differentials, are 123 sßd for butter and 70s 4jd for cheese, nor cwt. f.0.b., New Zealand currency. The equivalent landed prico for butter in London is 112 s and for Cheese 675. The guaranteed price for butter is equal to 13.25 c! per lb f.0.b., and the current London quotation is equal to 14.811 d, New Zealand ports. The equivalent price for cheese is around 7.81 d per Ih f.0.b., compared with the guaranteed price of 7.54 d. Deliveries of New Zealand butter last week were 1498 tons. The quantity in store, including 502 tons ex Rang'itane and Ruahine, was 4352 tons, as compared with 6392 tons a year ago. Deliveries of Australian butter were 1186 tons, the quantity remaining in etore being 5182 tons, as against 6312 tons a year ago.

The Imperial Economio G’ommittee’s estimate of all butter in store was 1,033,004 boxes, as against 857,453. boxes a year ago.

The cheese market was firmer. New Zealand, at 68s 6d to 695, showing an advance of Is 6d to 3s 6d a cwt. on the week. Friday’s closing . prices, with those of the previous week in parentheses, were as follow: New Zealand.—White, 68s 6d to 69s (67s to 67s 6d: a year ago, 745); coloured, 68s 6d to 69s (65i to 665; a year ago, 735). Australian.—White and coloured, 65s to 67s 6d (64s 6d to 665). Canadian.—White and coloured, 78s to 80s (78s to 80s) ; c.i.f., 67s to 68s (675).English factory cheese.—66s (665). Deliveries of New Zealand cheese last week totalled 20.585 crates. The quantity in store, including 22,700 crates ex Rangitane and Ruahine, was 61,005 crates, as against 72,781 crates a year ago. Canadian chese in store totalled 65,715 boxes, as against 56,592 boxes a year ago.