London Butter Market

Northland Age, Volume 2, Issue 26, 31 March 1933, Page 4

London Butter Market

Deliveries of New Zealand butter ex store in London during the past week dropped sharply, the total, 1584 tons, comparing with 1941 tons in the previous week. The New Zealand Dairy Produce Board reports, under date March 24, that the market was quiet and irregular. The quantity of butter remaining in store at the end of the week was 7550 tons, the highest amount since February 10, when there were 7900 tons in store. The Australian deliveries increased by 79 tpns to 2262 tons for the week, compared with the previous period. The total in store at the end of the month was 4704 tons, an increase of 203 tons.

The New Zealand Dairy Produce Board received the following market report from its London office, dated March 24, the previous week’s prices being given in parentheses : New Zealand—Salted, 71/, 72/ to 74/ (77/ to 80/); unsalted, 74/ to 76/ (76/ to 78/). Deliveries, 1584 tons (last year, 1364 tons); in store, 7550 tons (last year, 4376 tons). Australian—Salted, 70/, 72/ to 73/ (72/ to 74/); unsalted, 71/ to 74/ (75/ to 76/). Deliveries, 2262 tons (last year, 2714 tons); in store, 4704 tons (last year, 3301 tons). Argentine Unsalted, 70/ to 74/ (72/ to 74/). South Africa—66/ to 70/ (69/ to 72/). Latvian—Unsalted, 78/ (78/ to 80/) Lithuanian—76/. Siberian—72/.

The market is quiet and irregular. Retail prices unchanged, New Zealand lOd, Danish 1/. The Empire Marketing Board’s estimated stocks of all butters, 810,580 boxes (compared, last year, 381,898 boxes).

Mr. H. S. Withers has received the following advice from Mr. A. C. Rowson :

Butter First, 72/; finest, 73/. Small demand ; market steadier. Cheese—White, 41/; coloured, 49/. Small demand; market slightly steadier.

There was an improved demand for finer grades of Merino at the Sydney wool sales last week.

New regulations restricting free on board and cost, insurance, freight and exchange sales of butter came into operation in Australia last week. Under the regulations, the Australian

Dairy Produce Board will meet every Friday in Melbourne, and will fix a price, based on London market quotations, at which sales on the terms stated will be permitted. The price determined will apply to all butter held in cool store on the day of the fixation.