BUTTER STILL SLOW

New Zealand Herald, Volume LXIX, Issue 21326, 29 October 1932, Page 12

BUTTER STILL SLOW

' DECLINE IN PRICES AUSTRALIAN COMPETITION UNSETTLED STATE OF TRADE The general position of the London market for New Zealand butter continues Co be unsatisfactory and during the past week prices have fallen still lower. Choicest New Zealand, which is stated to bo very scarce, is bringing 4s less than a week ago, and from 6s to 8s less than a month ago. Danish is firmer, being quoted at 116s to 118s, compared with 116s last week. Values for New Zealand cheese have risen Is and the market is firm- ' A Press Association message from London states that the butter market is still slow. Danish is quoted at 116k to 118s; New Zealand, choicest salted, very scarce, 106s; first grade, 975; unsalted, 106s to 110s; Australian, choicest salted, 96s to 975; unsalted, 97s to 100s. The cheese market is firm. New Zealand, white, 665; coloured, 60s. In the corresponding week of September the butter market was slow. Danish was quoted at 115s; choicest salted New Zealand, in small supply, 112s to 114s; exceptional lots, 115s; Australian, 105s to 106s; unsalted New Zealand, 112s to 115s; Australian, 106s to 107s. The cheese market was quiet. Now Zealand, white, was quoted at 645; coloured, 60s. A year ago the butter market was steady. Danish was quoted at 130s; choicest salted New Zealand, 118s to 120s; Australian, 112s to 113s; unsalted sorts, the same. The cheese market was quietly firm. New Zealand white and coloured were quoted at 68s to 695. In a market survey A. S- Paterson and Company, Limited, states that Australian production and Australian competition is becoming more and more a factor of tho United Kingdom market. The Patterson scheme working in Australia for some years past had assisted in the establishment and growth of the dairy industry there, and in addition Australian producers had had heavy exchange advantages.

REPORTS FROM MERCHANTS

DETAILS OF QUOTATIONS merchants have received the following cablegrams from their London houses, dated October 27 : . A. S. Paterson and Company, Limited, from. J. and J. Lonsdale and Company (London), Limited.—Butter: Danish, 101s f.0.b.; New Zealand, 96s to 105s; Australian, 94s to 965. The market is demoralised. There is no demand owing to the general unsettled state of trade, together with low Australian c.i.f.e. offers. Cheese: White, 675; coloured, 60s. The market is firm on account of small stocks. . • , Dalgety and Company, Limited, from Samuel Page and Son. —Butter: New Zealand, finest salted, 96s to 104s; Danish, 116s to 118s; Australian, finest unsalted, 98s to 104s; finest salted, 94s to 965; geneurd average cjuality, 90s to 925. The market is weak. Cheese: New Zealand, white, 65s to 665; coloured, 59s to 60s; Canadian, white, 66s to 695; coloured, 66s to 68s. The market is firm- _ Newdick Brothers, from Whiteley, Muir and Zwanenberg, Limited.—Butter: New Zealand, finest, 104s r Australian, finest, 965. Cheese: New Zealand, white, 675; coloured, 60s. Mr. L. McCartney, from Henry A. Lane and Company, Limited.—Butter: New Zealand, 104s to 965; Australian, 96s to 945. Danish, 105s f.o.b. The market is steadier. Cheese: New Zealand white, 665; coloured, 60s; Canadian, 66s 6d c.i.i. The market lis firm. Norden and Company, Limited, from R. and W. Davidson, Limited, Glasgow.— Butter: New Zealand, salted, 96s to 106s; unsalted, 106s to 110s; equivalent to 10.42 d and 11.17 d a lb., f.0.b., Auckland, respectively. The market is quiet. Cheese: White, 665; coloured, 59s to 60s; equivalent to 6.24 d and 5.54 d a lb., f.0.b., Auckland, respectively. The market is firm. Mr. W. W. Bowker, from A. J. Mills and Company, Limited:—Butter: Now Zealand, finest, 103s to 109s; firsts, 96s to 975; unsalted, 108s to 112s; Danish. 118s; Australian, 94s to 965. The market is slow. Cheese: New Zealand, white, 65s to 665; coloured, 59s to 60s; Canadian, white and coloured, 67s to 68s; c.i.f., 66s 6d. The market is firm.