BUTTER FOR LONDON.

New Zealand Herald, Volume LXVIII, Issue 20991, 30 September 1931, Page 10

BUTTER FOR LONDON.

SEASON'S LARGEST SHIPMENT. MOST SENT FROM AUCKLAND. ESTIMATED VALUE £271,000. CONSIGNMENT LEAVING TO-DAY. The largest consignment of dairy produce to be shipped so far this season will be carried by the Remuera, which will leave Atickland to-day and is due ?t London on November 7. The vessel will take 86,000 boxes of butter, of which 67,000 are from the Auckland Province, and 1500 crates of cheese, 273 of which are from the Auckland Province. Recent large shipments of produce were 60,000 boxes of butter and 5100 crates of cheese by the Rangitata on August 15, and 60,000 boxes of butter and 16,000 crates of cheeso by tho Rangitan© on September 12. The next shipment will bo by the Mahia on October 8 and from then on all consignments will be large oi.os. Calculating tho value of tho Remuera's shipment on present Loudon prices and the exchango in favour of the New Zealand exporter, the consignment is worth over £271.000. This estimate is on the basis of 120s a cwt. for butter and 70s a cwt. for cheese, plus exchange at £8 10s per cent. However, it is estimated that somewhat less than a quarter of the consignment has already been sold at Is f.o.b. Owing to the uncertain conditions prevailing, exporters cannot gain any definite indication of the future movements on the London market. The latest report states that the market is quiet but. firm. Yesterday Joseph Nathan and Company, Limited, received the following advice from London:—Butter: Finest, 120s to 1225. Cheeso: White and coloured, 71s to 725. Both markets are quiet and firm.

"MARKET VERY ENCOURAGING." CONFIDENCE IN THE FUTURE. [BT TELEGRAPH. —PRESS ASSOCIATION.] WELLINGTON, Tuesday. Mr. W. H. Kent, New Zealand representative of the Tooley Street firm of dairy produce merchants, Andrew Clement and Sons, Limited, was greatly surprised when answering a telephone call at his private residence, Eastbourne, to hear London calling and have a conversation with Sir Thomas Clement, head of the firm. Transmission was remarkably clear, every word being heard. In tho course of a business talk Sir Thomas Clement told Mr. Kent that the tono of the butter market was very encouraging and that he thought prices would remain firm until Christmas at least. He also said there was every indication that Britain would adopt a tariff, but its operation would be aimed at foreign countries, not at the Dominions.