BUTTER MARKET QUIET.

New Zealand Herald, Volume LXIX, Issue 21130, 12 March 1932, Page 14

BUTTER MARKET QUIET.

recent increased activity. ADVANCE OF 2s IN WEEK. GERMANY RESTRICTS IMPORTS. Following an active demand over thieo days, the London market for New Zealand butter is -quiet, with prices 2s a cwt. higher than last week, at 110s to 112s. The cheeso market is steady, New Zealand prices showing an advance of Is a cwt. for both white and coloured. Latest quotations of Danish are 124s to 1255, not including the 10 per cent. duty. According to the market survey of A. b. f'atcrson and Company, the straight-out Danish quotation without the addition of duly indicates that quoting a price plus duty is considered undesirable from a sales point of view. The survey draws attention to the effect which restricted imports to Germany of Danish butter will liavo oil tho London market. It states that, owing to the German import duties in 1931, the Danish butter trade with Germany declined by 12,950 tons, the figures for 1931 and 1930 being 28,000 tons, and 40,950 tons respectively. This reduction will materially affect quantities of Danish butter available tor shipment lo Britain. West Coast Shipments. The report refers to the close arrival at Liverpool of two produce steamers from New Zealand and suggests that this may weaken the northern market, adversely affecting London "Shipments to the west coast of England ports still require careful regulation," states tho report. "While the west coast ports have become improved channels for distribution to certain parts of the United Kingdom, any overloading will result in congestion. There has been considerable activity on the cheese market during tho week. Australian is cleared temporarily, while Canadian production is largely at a standstill. The 1932 Canadian season will commence in May. The Press Association message from London states that tho butter market is quiet after an active period. Danish is quoted at 1245, plus duty; choicest salted New Zealand, Ills to 112s: Australian, 106s to 107s; unsalted New Zealand, 114s to 118s; Australian. lC6s to 112s. The cheese market is slow. New Zealand white is quoted at 625; coloured, 635. In tho corresponding week of February the market was- firm and an im« proved demand was being shown. Danish was quoted at 140s; choicest salted New Zealand, 102s to 104s; Australian, 100s to 102s; unsalted New Zealand. 112s to 115s; Australian, 108s to Ills. The market for cheese was firm. New Zealand white was quoted at 625, and coloured at 635. Australian was quoted at 60s to 61s. Reports from Merchants. Merchants have received the following cablegrams from their London houses, given in parentheses, dated March 10: A. S. Paterson and Company, Limited (J. and J. Lonsdale, Limited): —Butter: Danish, 1255, not including duty; New Zealand, 110s to Ills; Australian, 105s to 106s. Cheese: White, 61s to 625; coloured, 62s to 635. Both markets are slow. W. W. Bowker (A. J. Mills and Company, Limited): —Butter: New Zealand, finest, Ills to 112s; firsts, 110s; unsalted, 117s to 118s; Danish, 130s; Australian, 105s to 107s. The market is slow. Cheese: New Zealand, white, 61s to 625; coloured, 62s to 635. * The market is steady. Dalgetv and Company, Limited (Samuel Page and Son, Limited): —Butter: New Zealand, finest salted, ]o9s to 112s; Danish, 132s to 1345; Australian, finest unsalted, 108s to 110s; finest salted, 106s to 108s: general average quality, 102s to 104s. The market is firm. Cheese: New Zealand, white, 60s to 61s; coloured, 61s to 635; Canadian, white, *6Bs to 745. The market is quiet following an active demand. Norden and Company, Limited (R. and W. Davidson, from Glasgow):—Butter: 110s to 112s, equivalent to 11.49 d a lb., f.0.b., Auckland. Cheese: White, 61s to 625: coloured, 62s to 635, equivalent to 5.75 d a lb. and 5.86 d a lb., f.0.b., Auckland respectively. The markets are quiet.