FIRMING DAIRY MARKET.

New Zealand Herald, Volume LXV, Issue 19860, 2 February 1928, Page 10

FIRMING DAIRY MARKET.

IMPROVEMENT IN LONDON. BETTER DEMAND FOR BUTTER. "The butter market is improving, with a better demand," was the cheering information couveved in a cablegram from its London principal, Mr.' A. C. Rowson, received yesterday- by Leonard and Son, Ltd. Although finest butter was still quoted at 160s to 1645, which is equal to Is 3.49 d and Is 3.9 d, f.0.b., the message appears to indicate a market recovery in face of heavy arrivals and substantial consignments on the water. New York prices, it mentioned, had advanced by half a cent to 48 cents. Cheese remained steady at 91s, equal to 8.16 d, f.o.b. • Joseph Nathan and Company, Limited, yesterday received cabled quotations from London of 162s for butter, and 90s to 91s for cheese. A city exporter of dairy produce, discussing yesterday the reported improvement in the London market, said it was difficult to suggest a reason unless buyers had been influenced by reports of diminishing production in New Zealand on account of the dry spell. 'lt was all the more surprising having regard to the fact that recently heavy shipments had been landed in England and 400,000 boxes were en route to Britain. Mr. W. W. Bowker yesterday received the following cable from London, dated January 31:—Butter: The market is firm at 160s to 1625. Stocks are small and a good demand is anticipated during February and March. Cheese : The market is steady at 91s to 925.