PRICE OF BUTTER

Nelson Evening Mail, Volume LXXII, 17 January 1939, Page 10

PRICE OF BUTTER

FURTHER ADVANCE LAST WEEK The price of New Zealand finest salted butter in London advanced last week to 123 s to l?’s, a gain of 7s a cwt since 6th January. The market is now 11s to 12s a cwt. above the level of a year ago, the higher prices being largely due to decreased Australian production. The prer- it quotation is the closest to the guaranteed price equivalent of 124 s 3d a cwt. since the price was announced in September. The present price of 123 s is equal to approximately 14.74 d a lb f.o.b. New Zealand ports, compared with the guaranteed price of 14.89 d a lb f.o.b. The London equivalent of the guaranteed price is 124 s 3d a cwt. The equivalent price of cheese is about 8d a lb f.0.b., compared with the guaranteed price of 8.42 d. The market was firm at the close after a good demand at advancing prices, says the report supplied by the Primary Products Marketing Department through the Dairy Board. Friday’s closing quotations, with those of the previous week in parentheses, were as follows: New eZaland, salted, 123 sto 124 s (116 s to 117 s; a year ago, 112 s); unsalted, 126 s (119 s to 120 s; a year ago, 114 s). Australian: Salted, 122 s to 123 s (115 s to 116 s); unsalted, 123 s to 124 s (116 s to 117 s). Argentine, unsalted, 116 s to 118 s (106 s to 112 s). Danish: 122 s f.0.b.: 144 s to 145 s spot (1225; 144 s to 1455). Market quiet. Dutch: Unsalted. 1245. ex. 127 s (1275). Lithuanian: Unsalted, 120 s (120 s to 1225). South Africa: 118 s to 120 s. Deliveries of New Zealand butter from store last week were 2230 tons and of Australian butter 2919 tons. The quantity of New Zealand butter in store on Friday was 4676 tons, as against 3918 tons a year ago. Australian butter in store totalled 5270 tons, compared with 2707 tons a year ago. The market for cheese is steady. Friday’s closing quotations, with those of a year ago in parentheses, were as follows : New Zealand: White, 70s (69s to 70s; a year ago, 68s to 68s 6d); coloured, 70s (69s to 70s; a year ago, 69s to 69s 6d). Australian: White, 65s to 67s (62s to 645; coloured, 64s to 66s (62s to 655). Canadian: White, 71s to 74s (71s to 735); coloured, 71s to 73s (71s to 735); old season’s white and coloured, 80s (80s). English: Finest farmers’, 84s to 96s (86s to 965). English: Factory cheese, 64s to 66s (635). Deliveries of New Zealand cheese last week were 12,939 crates. The quantity in store on Friday totalled 50,181 crates as against 45,390 crates a year ago. Deliveries of Canadian cheese, totalled 7295 boxes, the quantity in store being 143,199 boxes, as against 126,484 boxes a year ago. HIGH COMMISSIONER’S RETORT The Department of Agriculture has received the following cablegram from the High Commissioner for New Zealand. London, dated 13th January, 1939: Tallow. Market continues quiet. Present spot quotations are:—Mutton, fine 24s 6d to 255, good 21s to 21s 6d. fair 17s; beef, fine 21s to 225, good 18s, fair 16s 6d; mixed, good 18s, fair 16s 6d, gut 1 4s 6d to 15s 6d; mutton, dark to dull, 15s 6d to 16s 6d; beef, dark to dull, 14s 6d to 15s 6d. Hemp.—Manila: Market firm early this week, easier at the close, with sellers January-March shipment £l9 ss. Sisal: Market steady. NovemberJanuary shipment sold £l7.