LONDON DAIRY MARKET.

New Zealand Herald, Volume LXV, Issue 19940, 8 May 1928, Page 7

LONDON DAIRY MARKET.

CHEESE REPORTED FIRM. the storage position. Little business is passing on the London butter market, according to advice bv cable received by Amalgamated Dairies, Limited, under date London, April 5. Nominal quotations are 162s to 164s per cwt., with 166s for finest and 168s for Anchor brand. Danish is quoted at, 180s for spot supplies and 171s f.o.b.

Estimated stocks in the public stores on April 30 totalled 10,000 tons (about two weeks' normal supply), against 7550 tons stored at the end of April last year. Stocks of New Zealand were 4800 tons, against 5500 tons. Deliveries of New Zealand during last week totalled 900 tons. Arrivals include the steamers Mataroa, Matatua, Mahana and Port Bowen. The cheese market is reported firm. The quotation for finest and first grade, white or coloured, is 975. Estimated stocks are 91,350 crates of New Zealand and Australian and 6500 boxes of Canadian, compared with 119,850 crates and 22,800 boxes at this time last year. Retail prices are unchanged.

The Bank of New Zealand has received the following advice from its London office as at the close of business last week: — Butter, quiet, 162s to 166s per cwt. Cheese, quiet, 96s to 98s.

Joseph Nathan and Company, Limited, have received the following cablegram from their London house. Trengrouse and Nathan, Limited: —Butter, 1645, market quiet; finest Australian, Very plentiful, 152s to 1545. Cheese, 975, market quiet. Liverpool prices are the subject of advice by cable received by Mr. C. R. Spragg, from Bannatyne and Company, Limited, of Liverpool. Tho butter market is reported weak. Finest New Zealand salted, 165s to 1675. Cheese is firmer at 97s to 98s. DAIRY BOARD'S REPORT. A SUMMARY OF PRICES. [BY TELEGRAPH. OWN CORRESPONDENT. ] WELLINGTON. Monday. The New Zealand Dairy Control Board has received the following market report from its London oflicc, giving prices up to May 4, the previous week's prices being in parentheses : Butter.—New Zealand: Finest salted, 162s to 166s (164s to 1665); unsalted, 166s to 1725, up to 176s (166s to 1765). Australian : Salted, 150s to 1545, up to 156s (152s to 1565); unsalted, 152s to 156s (152s to 1565). Argentine: Finest unsalted, 152s .to 156s (152s to 1565). Irish creamery: Salted, 162s to 164s (164s to 168s); unsalted, 164s to 166s (166s to 170s). Danish: Spot, 179s to 180s (180s to 182s); f.0.b., 168s to 169s (1725). Dutch creamery: Unsalted, 170s to 174s (168s to 1725). Estonian: Salted, 166s to 168s (168s to 170s); unsalted, 168s to 170s (168s to 170s). Latvian: Not quoted (168s to 170s). Siberian: 150s to 152s (152s to 1545). Polish: Salted, 146s to 148s (not quoted); unsalted, 156s (not quoted). The market is quiet. Estimated stocks of all butters in public stores at May 1, 10.035 tons, compared with 7556 tons last year. Deliveries of New Zealand this week were 890 tons. New Zealand butter in store this week is 4700 tons.

Cheese—New Zealand: White and coloured, 96s to 98s (96s to 975). Canadian: Finest coloured, 108s to 110se(108s to 112s) ; white, 110s to 114s (110s to 114s). Stocks are very low. Australian: Finest coloured, 94s to 955, (93s to 945) Market firm. Retail prices are unchanged. Estimated stocks in public stores at May 1, at London, Liverpool and Bristol, is 91.350 crates of New Zealand and Australian, and 6500 boxes of Canadian, compared with 119,850 crates and 22,800 boxes last year. Steamers arrived this week and commenced to discharge as follows : —Mataroa: Cheese, April 30; butter, May 1; completed discharge, May 3. Matatua: Cheese, May 2; butter, May 1; completed, May 3. Port Bowen, London: Cheese and butter, May 2; completed, May 3. Mahana: Cheese, May 3; butter discharge not commenced. The board has also received the following advice from its agents in Canada: — Butter: New York, 44£ cents (Is lO^d); Montreal, 34^-cents (Is s£d); San Francisco, 41 cents (Is B^d). INSURANCE COMPANIES. MERGER ANNOUNCED. It is announced the New Zealand business of the Southern Union General Insurance Company, Limited, has been purchased by the Royal Exchange Assurance Corporation. The former company's business has been transacted by the Royal Exchange Corporation since May 1. CALCUTTA TEA SEASON. DROUGHT'S ADVERSE EFFECT. Australian and N.Z. Press Association. CALCUTTA. May 6. The Indian Tea Association has cabled to London stating that the weather is abnormally drv in all districts and that rain is badly "wanted. All the garden managers are complaining of the drought, which is likely to make this a very late tea season. FROZEN MEAT PRICES. LONDON MARKET VALUES. The Bank of New Zealand has received the following cablegram from its Loudon office as at the close of business last week :—Frozen meat. —The wether market is quiet, but firm. There is ft good demand for ewes. It is thought that p.-ices for lamb will remain steady at last quotations. The beef market is firm. Wethers, light, 6Jd to 7,' d per lb; heavy, 5d to 5Jd; owes, 4i,d to lambs, twos, 9£d to lOd; eights, 9d to 9^l; fours, 3£d to Bijd; seconds, 9d to 9^d; ox hinds, 4Jd i.o s>l; fores, 3Jd to 3gd; cow hinds, 4Jjd to 4Jd; fores, 3{d to 3£d. The New Zealand Loan and Mercantile Agency Company, Limited, has received the following cablegram from its London house, dated May 4: —New Zealand Frozen Meat.—Lamb, 9§d per lb; mutton, wether and maiden ewe, light, 6§d per lb j heavy, s|d; ewe, light, sjjd; heavy, sgd.

SOUTHERN EXCHANGES. [BY TELEGRAPH. — PRESS. ASSOCIATION.] WELLINGTON. Monday. The following 6alo was made on the Stock Exchange to-day:—Bank of Australasia (fractions), 9s 3d (two parcels). CHRISTCHURCH. Monday. The following sales took place on the Stock Exchange to-day:—Wcstport Goal, 50s Id; Tooths Brewery, 43s 3d (two); Now Zealand Guarantee Corporation, 8s 4d; Mtthakipawa, Is 6d (two), Is 7d: Carlton Brewery, 45s lOd. DUNEDIN, Monday. Tho following sales took place on the Stock Exchange to-davMil burn Lime and Cement, 32s 3d; New Zealand Refrigerating (con.), 8s 2d; Westport Coal, 30s 3d.