BUTTER PRICES STEADY

New Zealand Herald, Volume LXIX, Issue 21249, 1 August 1932, Page 5

BUTTER PRICES STEADY

HIGHER RATES MAINTAINED ADVANCES FOR AUGUST Although prices on ihe London butter market' remain fairly steady at higher levels, activity among local agents of Tooley Street firms has eased, and last week little business was reported. The London market at tho moment is quiet as a result of the English mid-summer holidays. Owing to tho variation of the London market, agents' advances on consignment havo been readjusted for August, the following rates being announced : —Butter, 9d a lb.; cheese, a lb. Theso rates represent an advance of £d for butter, and a reduction of id a lb. in the case of cheese, in comparison with levels ruling in July. Tho rates arc adopted by all agents and arc based on 80 per cent of the approximate value of tho produce. Merchants have received tho following cablegrams from their London houses, dated July 29: Mr. H. S. Withers, from A. C. Rowson:—Butter: New Zealand, 105s to 106s. Cheese: White, 575; coloured, 555. Both markets aro steady with an improved demand. New Zealand Producers' Co-operative Marketing (Association,—Butter: New Zealand, 105s to 107s. The market is steady. Cheese: White, 56s to 575; coloured, 54s to 555. The market is firm. A. If. Turnbull and Company, Limited, from W. Weddel and Company, Limited. —Butter: Danish, 114s to 115s; New Zealand, finest salted, 105s to 106s; Australian, saltci, 100s to 103s. The market is quiet. Cheese. New Zealand, white, 56s to 575; coloured, 54s to 555. Tho market is steadier PRODUCE BOARD'S REPORT The New Zealand Dairy Produce Board has received the following market report from its London ofiicc, dated July 29, figures for the previous week being in parentheses:— Butter.—New Zealand: Salted, 105s to 106s (105s to 107s); exceptional, 107s; unsalted, 108s to 110s (106s to 110s); 105s to 106s equals approximately 10 7-8 d j f.0.1).; first whey, 93s (965) ; second, 91s j (94.--). Deliveries, New Zealand, 1290 tons; in store, 5062 tons. Australian: Salted, 100s to 103s (102s to 104s); tinsalted, 104s to 106s (106s to 108s). Deliveries, Australian, 1362 tons; in store, 5062 tons. Argentine: Unsalted, 88s to 94s (88s to 925). Danish: 955, f.0.b., 114s to 115s spot (105s to 120s). Dutch: Unsalted, 118s to 122s (120s to 1245). Estonian: 90s to 94s (945). Latvian; 90s to 93s (93s to 945). Siberian: 86s to 87s. Ukranian: 84s. Lithuanian: 90s to 92s (90s to 935). The market is quiet. New Zealand and Danish retail price, Is 3d. The Empire Marketing Board's estimated stocks of all butters, 876.218 boxes (last year, 924,712 boxes). Cheese.—New Zealand : White, 56s to 57s (58s to 58s 6d); coloured, 545, 55s to 56s (56s to 575) ; 54s to 57s equals approximately 5 3-8 d f.o.b. Deliveries, New Zealand, 20,500 crates; in store, 81,500 crates. Canadian: White and coloured, 57s to 59s (57s to 595); c.i.f., 565. Deliveries, Canadian, 7100 boxes; in store, 106,706 boxes. English: Finest farmers', 925" to 96s (92s to 945). The market is steadier. New Zealand retail price, Bd. The board has also received the following advice from its agents in Canada:— Butter: New York, 19 cents; Montreal, .17i cents. THE LONDON MARKETS FROZEN MEAT (Received July 31. 5.5 p.m.) LONDON, July 30 The weekly quotations for the undermentioned classes of frozen meat are based on actual sales of wholesale quantities of carcases of mutton or lamb, or of quarters of beef delivered to Smithfield market and'or London stores. They are compiled by the Quotations Committee, Smithfield. 'To arrive at the equivalent ex ship values, one farthing per pound should be deducted from the prices quoted below. Quotations given represent the average for the week and are not selected lines, but for parcels fairly representative of the bulk of shipments now on offer. New Zealand Frozen Sheep.—North Island crossbred wethers and maiden ewes, 651b. to 721b., 2|d; 651b. to 721b., 2£d. Australian Sheep.—First quality crossbreds, and/or Merino wethers, 401b. to 651b., 2id; 301b. to 551b., 2J>d. Argentine Sheep.—First quality crossbred wethers, 481b. to 641b., 2gd. New Zealand Lambs.—Canterbury, 361b. and under, s,|d; 37'b. to 421b., s£d; 431'0. to 501b., 4gd; second quality, average 301b., sd; other South Island brands. 361b. and under, sd; 371b. to 421b., sd; 431b. to 501b., s£d; selected North Island brands, including Downs, 361b. and under, s^d; 371b. to 421b., sid; 431b. to 501b., 4sd; second quality, average 301b., sfl; other North Island* brands, first quality, 361b. and under, sd; 371b. to 421b., 4f d; second quality, average 301b., 4§d. Australian Lambs.—Victorian, first quality, 361b. and under, 4§d; 371b. to 421b., 4jjd; other States, first quality, 361b. and under, 4^d; 371b. to 421b., 4|d; other States, second qualitv, 361b. and under, 4|d. Australian Fro/.en Beef.—Ox cro|is, over 1001b., 2^cl; ox hinds, under 1601b., 5Jd. COTTON, RUBBER, JUTE, ETC. (Quotations on July 22 in parentheses.) . Cotton.—Spot,.4.67d (4.56 d) a lb.; September delivery, 4.52 d (4.38 d, August). Rubber. —Para, 3jd ((3£d) a lb.; plantation and smoked, 23-32 d (1 15-16 d). Jute. —August-September shipments, £ls 7s 6d (£l4 13s 9d) a ton. Copra.—July-August shipments, South Sea, £l3 15s (£l3 7s 6d). a ton; plantation, Rabaul. £l3 17s 6<l (£l3 10s). Linseed Oil.—£ls (£l4 15s) a ton. Turpentine.—6os 3d (60s 3d) a cwt. NEW ZEALAND APPLES Tho demand for apples is maintained. New Zealand, ex store, are quoted as follows: —Sturmers, Brightens and Yates, lis to 12s; Delicious and Ballarat, 10s to lis; Rokewood, 12s to 13s; Granny Smith, 14s to 18s. The Bank of New Zealand has received the following ndvico from its London oflico as at the close of business last week Wethers: The market is steady; no material chango expected. Ewes: There is a moderate demand; prices aro a shade lower Lambs: There is a fair demand : larger supplies have caused prices to weaken. Quotations are:—Wethers, light, 3d to 4 18d a lb.; heavy, 2?d to 3d; ewes, 2d to 2|d; lambs, twos, 5d to s^d; eights, 5d to 51<1; fours, 5d to s|d; seconds, 4gd to sd. SYDNEY STOCK EXCHANGE SATURDAY'S BUSINESS SYDNEY. July 30 On the Sydney Stock Exchange this morning sales were:—Commonwealth 4 per cent bonds. 1938, £9B ss; 1941, £9B ss; 1944, £9B 2s 6c!; 1953, £96 17s 6d; 1955, £97; £lO bonds, 1938, £9 15s 6d; 1944, £9 15s ; 1955, £9 13s; 1957, £9 13s; 1959, £9 13s; 1961, £9 13s 6d. Commercial Bfuik of Sydney (ex dividend), £ls 10s; Bank of New South Wales, £29.