LONDON DAIRY PRICES.

New Zealand Herald, Volume LXIV, Issue 19833, 31 December 1927, Page 7

LONDON DAIRY PRICES.

BUTTER IN BETTER DEMANDNEW ZEALAND 160s JO 1625, (Received December 30, 5,5 p.m.) . A. and N.Z.-Sun. - LONDON, Deo. 29. Butter is in slightly better demand. Danish is quoted at 180s; choicest salted New Zealand, 160s to 1625,; exceptionally fine, 1645; Australian,, 156s to 160s. The price of unsalted butter i 3 unchanged. Cheese.—The market is firm. New Zealand is quoted at 92s to 935. DAIRY BOARD ADVICES, - ft GOOD MARKET ANTICIPATED. [BX TKLEGI'.APH. —OWN ] WELLINGTON, Friday. The New Zealand Dairy Produce Board has received the following market report from its London office dated December 23, with the prices for the previous week in parentheses■ Butter. —New Zealand salted, 160s to 162s (156s to 1625); unsalted, 168s to 170s (170s to 1745). Not much business doing. Deliveries: New Zealand, last week, 2100 tons; in store, 3000 tons. Australian: Finest, salted, 154s 'to 160s ( 154s to 158s)} unsalted, 160s to 162s (160s to 1645). Argentine: Finest unsalted, 154s to 156s (156s to 160s). Danish: 182s to 184s, spot, 1725, f.o.b. (182s to 178s). Dutch: Creamery, unsdlted, 184s to 188s (190s to 1925). Siberian: Salted, 146s to 148s (146s to 1545). Retail prices unchanged. We are looking for a fairly good market after the holidays. —New Zealand, white, 90s to 91s: exceptionally, 92s (91s to 925); coloured, 88s. to 90s (90s to 91s). Market steady. Canadian: Finest white, 102s to 104s (98s to 104s); coloured, 100s to 104s (100s to 102s). English: Finest farmers', 126s to 130s (126s to 130s). Retail prices unchanged. REPORTS FROM MERCHANTS. MARKET'S UPWARD TENDENCY. A steady tone in the London butter market is reported in the. latest cablegrams received by merchants in Auckland, which quote finest New Zealand butter up to 1645. These advices confirm the impression of a healthier outlook after the holiday period, when the natural revival oi buyers' activities will receive an added impetus from the reduction in the retail price from Is 8d to Is 7d per lb. A continued steady demand for cheese is expected to be maintained, particularly as the Canadian supply will be going off the market Norden and Company, Limited, received the 'following cablegram from Andrew Clement and Sons, Limited, London, dated December 29:—Butter, salted, 162s to 1645, f.0.b., equivalent Is 3 8(1 per lb; unsalted, 1665, Is 4.11 d per 1b; market firm. Cheese: White, 945, f.0.b., equivalent 8.46 d per lb; coloured, 935, 0.36 d per lb; market very firm. Leonard and Son, Limited, received the following cablegram dated December 29 from their London representative: Butter, 160s to 1625. Cheese, 925; market has an upward tendency. Dalgety and Company, Limited, report having received the following cablegram from their London honue dated December 29:—Butter: The market is steady, but quiet. New Zealand, finest butter, salted, 160s to 1625: Danish butter, 180s to 182s; Australian, finest salted, 156s to 160s; unsalted, 164s to 1665. Cheese: The market has more inquiry. New Zealand, cheese, white and coloured, 90s to 925; Canadian, 98s to 102s. W. W. Bowker has received the following cablegram from A. J. Mills, and Company, Limited, London, dated December 29:—Butter: The market is steady, but the demand is very slow owing to the holidays; quotations, 160s to 1625. Cheese: There- is a slight improvement in the demand, and prices are steady at 92s to 93s for white and 91s to 92s for coloured. Amalgamated Dairies, Limited, report having received from their London manager the following cablegram dated December 29:—Butter: Finest, 1645; first crade, 1625; market firm, but little business passing. Danish, 1765, f.o.b. Cheese: White, 935: second grade, white, market slightly 'stronger; Canadian, 102s spot. PRODUCTION OF RUBBER. THE RESTRICTION SCHEME. While the average price secured by rubber producers during the past year is regarded as " not though much below that of the previous year, an indication of how the British-controlled Stevenson restriction schame is handicapped by the non-participation of outside interests is contained in the annual report of the Austral Malay Rubber Co., Ltd., a Sydney company. By reason of rubber falling below Is 6cl per lb., the report states, the restriction scheme again became operative toward the end of 1926, and the output of all producing companies operating in British territory was restricted by originally 10 per cent., and due to further declines in the price, the output was from time to time restricted, so that to-day companies are allowed to collect only 60 per cent, of their normal "production. ; • ■. . Companies operating outside British territory while securing any advantage to be gained by the scheme, says the Sydney Morning Herald, are not curtailing their output in any way. It is reported that this attitude 'is likely to have a ' boomerang " effect, as in some cases auxiety for maximum production has caused serious damage to the trees through over-tapping, The position of the London stocks of the world's visible supply is not regarded as satisfactory, the report adds, inasmuch as America is at present holding a very large stock of unused rubber. Nevertheless, reports received from oversea indicate a possibility of greater consumption of rubber, which should tend to higher prices in the future. CHICAGO WHEAT MARKET. A. and N.Z. CHICAGO, Dec. 29. Wheat.—December, 1 dollar 26J cents per bvr'hel; March, 1 dollar 29 cents; May, 1 dollar 30 3-8 cents.