BUTTER STOCKS LOWER

New Zealand Herald, Volume LXX, Issue 21457, 3 April 1933, Page 5

BUTTER STOCKS LOWER

LONDON POSITION REVIEWED LAST WEEK'S MOVEMENTS The stock position of New Zealand butter in London, as disclosed by tha Dairy Produce Board's weekly circular, was better at the close of business on Friday. Although deliveries Were 295 tons -greater at 1879 tons than in the previous week, the quantity in store was reduced by 1750 tons to 5800 tons. At this level London stocks of New Zealand butter in store are only 1100 tons greater than in the corresponding week of last year. The New Zealand Dairy Produce Board has received the following market report from its London office, • dated March 31, the previous week's prices being given in parentheses:^— Butter.—New Zealand, salted, 67s to 695, exceptional 70s (71s to 725); unsalted, 68s to 72s (7.4s to 765); 67s to 69s equals 7|d f.o.b. Deliveries: New Zealand, 1879 tons (last year,- 1468 tons); in store, 5800 tons (last year, 4700 tons). First whey, 645; second, 625. Australian: Salted, 65s to 675, exceptional 68s (70s to 725); unsalted, 66s to 68s, exceptional 70s (71s to 745). Deliveries: Australia, 1931 tons (last year, 2338 tons); in store, 3975 tons (last year, 2450 tons). The market is irregular. New Zealand retail price unchanged, lOd. Argentine: Unsalted, 665, 68s to 70s (70s to 745). South African, 62s to 64s (66s to 70s). Danish, 69s f.0.b., 90s to 91s spot (725, 92s to 955). Dutch: Unsalted, 80s to 86s (■ —). Lithuanian: Unsalted, 68s to 70s (765). The gnarket is slow. Danish retail price unchanged, Is. Cheese. —New Zealand, white, 40s, exceptional 41s, 4.08 d f.o.b. (40s to 41s; coloured, 47s to 48s, 5.03 d f.o.b. (48s to 495)". - Deliveries: New Zealand, 20,000 crates (last year, 17,500 cwt.); in store, 89,500 (last year, 86,000 cwt.). Australian: White, 38s to 39s ( —); coloured, 45s to 46s (48s). Canadian: "White and coloured, 60s to 68s (60s to 68s). Deliveries: Canadian, 2850 boxes (last year, 2900 boxes); in store, 89,000 (last year, 107,J95 boxes). English: Finest farmers', 84s to 102s (84s to 102s). The market is quiet. New Zealand retail price, 6d. The board has also received the following advice from its agents in Canada: —Butter: New York, 17£ cents; Montreal, 22| cents. Canadian stocks, 16,750 boxes (last year, 31,500 boxes). Merchants have received the following cablegrams from their London houses, dated Maxell 31: — New Zealand Producers' Co-opera-tive Marketing Asspciation, Limited. — Butter: New Zealand, 67s to 68s; Danish, 90s to 9ls. Cheese: White, 40s; coloured, 47s to 48s. The butter market is dull and there is very little doing. Cheese is slow. A. H. Turnbull and Company, Limited, from W. Weddel and Company, Limited. —Butter: Danish, 90s to 91s; New Zealand, salted, 67s to 695; Australian, 65s to 675. The market is irregular, Cheese: New Zealand, white, 40s; coloured, 47s to 48s. The market is quiet. 4 Mr. H. S. Withers, from Mr. A. C. Finest, 68s; first grade, 675. There is a moderate demand, but the market is weak. Cheese: White, 40s; coloured, 48s. The demand is slow, hut the market is steady. Allen and Findlay, Limited, from Armour and Company, Limited. —New Zealand, salted, 67s to 695; unsalted, 6Ss to 725; Australian, 67s to 68s; unsalted, 67s to 68s; Danish, 90s to 925. The market is quieter. Cheese: New Zealand, white, 40s; coloured, 47s to 48s; Canadian, white, 645; coloured, 64s to 665. The market is slow. FORWARD SALES RESTRICTED AUSTRALIAN CURTAILMENT In Australia restrictions are now in operation on free on board, ahd cost, insurance, freight and exchange sales of butter with the object of preventing speculative forward operations. The regulations came into force on March 16 and under these the Commonwealth Dairy Produce Export Board has been given power to fis a price for butter, based on London market values, below which these classes of sales' may not be negotiated. The price' is to be determined weekly. At the first meeting Pf the board on March 17 it fixed the price at 72s per cwt. The price applied to ■ butter for export already in co}d storage, or to supplies conveyed to cold storage during the following seven,days. GOLD AND SILVER , QUOTATIONS IN LONDON LONDON, M|rch 31 .Fine gold is quoted to-day at £6 0s 7id an ounce, compared with £6 0s 4d yesterday and £6 0s sid on Thursday. Silver was quoted yesterday at 17fd an oz. spot and 17 7-16 d forward, compared with 17 9-16 d and 17 5-S& on Thursday. STOCK SALES MORRJNSVILLE QUOTATIONS The Farmers' Co-operative Auctioneering Company. Limited, reports having held its usual fortnightly sale in the Morrinsvilie yards on Friday. There was a good yarding of sheej), comprising chiefly store lambs, for which competition wna not quite as good as at previous sales, most of those yarded changed hands at satisfactory prices, when compared with tho rates (or fat lambs. Breeding ewes were again in good demand, and sold at prices up to recent quotations. Fat sheep maintained lute rates. There was a large yarding of cattle, including an entry of station-bred cattle from the East Coast. The whole entry landed in good order and was of excellent quality. There was a good attendance of buyers, and with the exception of a few pens of tfereford cows _ the whole yarding changed hands at prices up. to recont ealea t young cattle especially beitis sought after. A full yarding of fat pigs met with good competition, prime quality baconers especially being in demand. An average yarding of stores and weaners was slow of side, and sold at recent low rates. Values were Sheep: Fat ewes, 7s 3d to 8s Id; light 5s Od to fis fid: fat; lambs. 10s Sd to lils; lighter, 0s to 10s Bd; store lamhs, fis 8d to 7s 9d; poorer sorts, 5s 6d to fis fid: store wethers, lis to 12s; poorer sorts, lis to 12s; four-tooth to four-year ewes, Us; five-year ewes, 8s to 9d; sound mouth ewes, 5s 7d to fis sd; cull ewes, 2s 8d to 4s Id. Cattle: Heavy fat steers. 2s; medium fat steers, £i 12s 6d to £5: " g ht fat steers, ins to £B.ss; fat heifers. £3 to £3 15s; fat cows, medium, 12 *2s 6rt to £3 Is; light, £1 10s to #3 8s; forward conditioned cows, £1 12s fid to £1 17s t.d; fresh store cows, £1 7s to 13a; boners, 12s fid to £1 2s fid; Jersey heifer calves, £1 13s to £2; others, 10s to £1 10s; potter hulls, heavy. -£3 4s to £4 10s; light potter bulls. £2 5s to £3 4s; 4}-year Hereford and Polled Angus steers, £3 3s to 13s; 3-1-year Polled Angus. £3 Is to £3 9s 21 year Pollen Angus, £2 12s to £3 6s j PoHod Angus and Hereford cows and heifers, £1 17s to £3 ss; Polled Annus and Hereford heifers, £2 to £2 12s. Pigs; Choppers, 24s to £ k 2; prime heavy bacnriers, J-2 7® tcv £2 109: heavy harnners. £2 3s to £2 7s; medium. 80s to £2 2s; light. 35s to 38b; heavy porkers, 30s to 345; medium porkers. 26g to 2&s; light,, 22s to 255; stores. 12s to IBs Bd: slips, 8s to 113; weaners. 3s Bd to 7s Bd. PRICES AT OHAUPO Dalgety and Company. Limited, Hamilton, report having held the usual stock sale at, Oliaupo on Friday. There was a fair yarding of stock. Fat cows and heifers made from 39s to £2 14s; boner cows. 17s to 30s: yearling heifers, 255; bulls, £2 ss. Store pigs made 12s fid to 16s 6d.