NEW ZEALAND BUTTER

Northern Advocate, 23 October 1935, Page 6

NEW ZEALAND BUTTER

DECLINE IN MARKET PRICE DROPS SUDDENLY. business at a standstill. [Special to “Northern Advocate .”] AUCKLAND, This Day. There is no business in either the butter or the cheese markets in London at present. Yesterday Joseph Nathan and Co., Ltd., received a cable from London stating that New Zealand butter was quoted at 118/- to 120/- per cwt. This is a reduction of 4/- since the end of last week, A. S. Patersoh and Co., Ltd., has been advised by J. and J. Lonsdale and Co, (London), Ltd., that the butter market is weak, owing to a slow demand, following the higher retail prices. The message states that the Continental shortage on German activity should result ultimately in Steadying the market, bud the future level depended on the effect on consumption of the high retail

price. The firm states that the trend of the market was -in line with previous cablegrams received, which indicated the danger of advanced retail prices detrimentally affecting the high level of butter consumption, achieved partly at the expense of margarine. Export Rates.

The minimum f.o.b. rates fixed by the Dairy Produce Board for the period from October 19 are as follows: Butter, 13£d per lb (a rise of a Id), and cheese, 5Jd (unchanged). These rates are equivalent to 108/- and 47/10 per cwt., c.ii.e., and are'less 1| per cent, commission.

MERCHANTS’ CABLES. The New Zealand Producers’ Co-op. Marketing Association, Ltd., have received the following cable from London' dated October 22. reading as follows: —Butter -depressed. Cheese quiet. Butter: New Zealand finest, 116/ to 117/. Danish, 134/. Cheese. White and coloured, 59/. Messrs A. H. Turnbull and Co., Ltd., received a cable today from London dated October 22, stating that Danish butter was selling at 136/, and N.Z. salted at 118/ and Australian at 118/. Market irregular. Last year’s figures are as follows: —Danish, 116/; New Zealand, 69/ to 71/; Australian, 69/ to 70/. Market firm. The cable states that New Zealand cheese, white and coloured, is selling at 59/. The market is quiet. Last year white cheese sold at 52/ and coloured at 50/. The market was firm.

Messrs Joseph Nathan and Co., Ltd., also received a cable from London this morning, concerning NeW Zealand butter. The cable reads as follows: Butter nominal., No business doing. Finest 116/ to 117/; first, 114/ to 115/. Cheese is selling at 59/.