BUTTER GOING UP

Northern Advocate, 10 July 1935, Page 6

BUTTER GOING UP

NEW ZEALAND 89/- TO 90/.; LONDON QUOTATIONS. BOTH markets FIRM r Special to "Northern Advocate ”] LSpeciai tO AUCKLAND , This Day. A cablegram received from London, dated July 8, by Messrs Joseph Nathan and Co, Ltd., quotes New Zealand salted butter at 89/ to 90/ per cwt. New Zealand white cheese is quoted at 45/, and cqloured at 44/6. Both markets are firm. , The New Zealand Producers’ Cooperative Marketing Association today received a cable from London, dated July 9, reading as follows:—Butter market firm. New Zealand, 89/ to 90/; Danish, 100/. Cheese; New Zealand, white, 44/6 to 45/; coloured, 44/. Messrs A. H. Turnbull and Co., Ltd., have received the following cable from Messrs W. Weddel and Co., Ltd., dated London, July 9, reading:—Danish butter, 98/ (last year 82/). New Zealand salted butter, 89/ (72/ to 74/). Australian, 86/ (66/ to 68/) Market quiet, but unchanged (Market steady). TEN PER CENT. INCREASE kaikohe output. PAST SEASON’S OPERATIONS. A ten per cent increase in butter production is shown in the annual report of the Kaikohe Dairy Company. Thte total manufactured amounted to 401 tons. , , , . , The report adds that a deferred payment of id for August supplies, 24d for supplies from September to December inclusive, and Id for January to May supplies is to while the directors recommend a b per cent payment on dry shares and a3i per cent on wet shares. With these payments made, there will be a small balance which is to be carried forward and will be dealt with later when the "output has been fully disposed of. . The average advance made for finest grade, with deferred payment, and less cream cartage and dividend, amounted to 9.01 d, the cost of cream cartage being .481 d per lb butterfat. The cost of making a pound of butter was .443 d and the total manufacturing costs..7B3d. The average grade of but-, ter was 93.654. A successful season is reported, in spite of the English market fluctuations, and the report states that the company has again shown that progress which has been manifest since its inception. The belief is expressed that the new-season will be as good, if not better, than the past season. ; The report records the attempt made to overcome overlapping and states that the only area in which the prob-. ' lem has been satisfactorily settled is ‘ at Taheke where a boundary has been ! fixed with the Hokianga Company. The question of amalgamation was J discussed with the Bay of Islands : Company, but, after several meetings, ] no finality was reached. It was felt, however, that the negotiations had rer suited in a better feeling between the [ two companies. [ Reference is made to the floods ' which, occurred during the season, , and it is stated that extensive damage ' was done to bridges, fences and pas- ? tures, while there were some instances of stock losses. For some weeks cream f collection had been disorganised, f Messrs Edwards, Guy and Hatrick are the retiring directors who again - offer their services.