LONDON BUTTER TRADE.

New Zealand Herald, Volume LXIII, Issue 19502, 4 December 1926, Page 9

LONDON BUTTER TRADE.

NEW ZEALAND PRICES UP. NEW SUPPLIES NEARLY GONE. Australian and N.Z. Cable Association. (Recti. 7.5 p.m.) LONDON. Disc. 2. The butter trado continues active. Australian, choicest, is quoted at 162s to 1645; unsalted, 1665. New Zealand stored butter is quoted at 160s to 1625. Tho Dairy Produce Board has raided the price for new supplies to 164s to 1665. Tho market is practicsilly bare of new supplies until the lonic arrives. Danish is quoted at 186s. Cheese is firm. Australian, 90s; New Zealand (board's prices}, 93s to 945. Last week's report stated there has been a remarkable improvement in the butter trade during the last three days, following on the better industrial outlook and reports that dry weather in New South Wales and Queensland is likely to retSuce shipments. A good demand has sprung up in London and the provinces and there have also been some sales for America and the Continent, where there is a shortage. One broker says he sold more butter on Tuesday, Wednesday. and Thursday than during the previous four months. It is reported that New Zealand's new season s supplies have been practically cleared at from 148s to ISOs. The control price has been raised to 156s to 158s, Danish is firm at 170s. Australian, choicest salted, is quoted at 146s to 148s; exceptionally fine, 150s; unsalted, 160s to 1625. AUSTRALIAN PROSPECTS. HEAVY RAIN REQUIRED. * There is a possibility that Australian exports of butter may show a considerable decrease this year owing to lack of rain. Mr. W. Good fellow, managing director of the New Zealand Co-operative Dairy Company, who has returned from a visit to Australia, stated yesterday that Queensland and New South Wales were having a bad time at present ho far as butter was concerned, and really heavy rains would be required within the next few weeks to prevent a considerable decrease in their exports. Mr. Goodfellow added that in consequence of this he expected a fairly rapid recovery of the London butter market. REPORTS FROM MERCHANTS. FIRMNESS OF THE MARKET. DaJgety and Company. Limited, report having received the following cablegram , from their London house, dated December 2; —Butter: The market is firm. Mew . Zealand Control price, finest 1665, first 1645, stored 156s to 160s; Danish, 182s; finest Australian unsalted, 168s, salted 160s to 162s Cheese: The market is firm. New Zealand Control price, finest 945, first 935; Canadian, 90s to 965; New Zealand last season, 90s to 945. W. W. Bowker has received tho follow.big cablegram from A. «T. Mills and Company, Ltd., London, elated December 2:~~ Butter.—The market is firm. Them is good demand for New Zealand new season's butter at 164s to 1665, stocks being practically cleared. Cheese.—The market has advanced; now quoted at 93s to 945. Norolen and Co., Ltd., have been advised by their London principals, Andrew Clement and Sons, Ltd., that the butter market is firm at 166s for finest, 164s for first grade and 158s for stored. The cheese market is advancing, with quotations at 94s for finest and 93s Tor first grade. The prices arc thoso fixed by the Control Board. CANTERBURY MARKETS. POSITION OF POTATOES. [BY roLEGRAPH.-PB.BSS ASSOCIATION.] CBItISTCHURCH. Friday. Trade talk centres around the effects of the extraordinarily prolonged spell of midwinter weather. Wheat is now appearing in flower in isorno of the earlier districts, and the inevitable aftermath of a snowfall on the ranges is a frost which is likely to affect crops at the stage mentioned. On thei other hand a warm " nor,.wester " is as likely to deivelop rust, which has already made its appearance on the heavier lands. The rough burns have " laid" h«iavy roots, and there is a general expectatiop that potatoes will be affected by frosts. They «ro just at the stage when they can be effectively nipped back. At all events, this possibility is not being ignored by the more venturesome of, the speculative element in the trade, and quotations for forward business wero somewhat freer to-day. Buyers were lacking last week at £3 10s on trucks for April-June delivery. To-day there are plenty of buyers at that figure. The cold burst, is likely to have an effect on ryegrass crops. Oats are still not inquired for. Ideas for Gartons range about 3s 8d to 3s lOd, f.0.b., 8.i., or 3s to 3s 2d on tracks. The influx of Australian Algerians is probably : the cause of the lack of Northern inquiry for this class, which is not wanted at 2s 6d a bushel on trucks. There is very little cocksfoot about, but very little is being asked for. Until North Island growers realise the inferiority of the imported cocksfoot compared with local, the Peninsula output seetns destined to shrink still further. AUCKLAND COMPANIES. TWO NEW REGISTRATIONS, * Two private companies were regiaterec in Auckland yesterday. Details are as follow • E. Lichtenstein and Company, Ltd. hides, skins, wool and genera! merchant! and exporters. Capital, £12,000 in 12,00< £1 shares. Subscribers; Eric Lichten stein, 3000 shares; Max Lichtenstein Frederick Horatio Palmer, Hilda Violetti Lichtenstein and Hubert Joseph Lichten stein, 2250 share:; each. Colonial Patent Cheese Hoop Company Ltd. Objects; To acquire patents o! cer tain inventions for the manufacture o cheese hoops and to manufacture cheesi hoom. Capital, £6OO in 600 shares. Sub scribers; William L. Luxford, 225 shares Alexander Howey Walker, 189 shares John Hector Luxford, 186 shares. MELBOURNE PRODUCE. A. and N.Z, MELBOURNE. Dec. 3 The following are to-day's quotations oi the Melbourne produce market:— Wheat.—Fair inquiry. Prompt delivery 5s s|d; January, 5s sd. Floor.—Old, £l4 10s to £l3 10s, casl: 5s concession. Oats—Milling, 2s lOd, feed, 2s 8d to 2; Bjd. * Barley.—English, 4s 3d to 4s Potatoes.—£l6 to £l7. Onions.-—£B 10s. CHICAGO WHEAT MARKET. A. aad N:Z. CHICAGO. Dec. 2, Wheat.—December, 1 dollar 3S| cents per bushel; May, 1 dollar 41£ cents; Jul}. 1 dollar 33J cents.