PRICES ADVANCE

New Zealand Herald, Volume LXX, Issue 21467, 15 April 1933, Page 10

PRICES ADVANCE

STEADY RISE IN WEEK GOOD DEMAND REPORTED CHEESE ALSO FIRMER Firmer conditions have developed on tho London butter market during the past week. New Zealand butter is in good demand and is quoted at 69s to 71s per'ewt., compared with 60s to 67s a week ago. Earlier in tho month quotations were as low as 61s. Jn a market report A. S. Paterson and Company, Limited, states tho latest advico is tho most favourable received for some time, and it was hoped tho improvement would bo sustained, resulting in prices rising to a truer and more reasonable level. There had been nothing to really justify tho disastrous prices which had been ruling durum the first three months of tho year. While supplies to tho United Kingdom were, and had been, ample, and perhaps a little more than ample, there had been no real glut and no justification for tho fall of 30s per cwt. since the end of last year. "It is very difficult to gauge to what extent tho markets for New Zealand butter and clieeso would bo affected by a real improvement in world economic conditions," continues tho report. "Such an improvement must react favourably on the prices of our | dairy produce, and a satisfactory settloj niont of international financial obliI gations, followed and combined with ' a sensible adjustment of tariff condii tions, would probably very quickly ! change the whole lace of world conditions. "The holding of preliminary international conversations in America in preparation for the World Economic ! Conference, is a very hopeful sign, and provided America realises the necessity for making comprehensive concessions, and actually does make them, favourable results may follow very qi ickly." Comparison of Prices Tho Press Association message from London dated April' 13 states that the butter market is firmer. Danish is quoted at 90s to 925; choicest salted New Zealand, 69s to 71s; Australian. 67s to 695. The cheese market also is firmer. New Zealand vvhue is quoted at 40s; coloured, 4.65; Australian, 38s to 445. Tho following comparative table shows tho mean closing quotations in cwts. on the London market for the last two weeks:— Apl. 7 Apl. 13 Rise Fall Butter— s d s d b d a d New Zealand .. Mi <> 70 0 3 0 Australian .. (11 (i (IS 0 3 0 Danish . . . . 91 0 91 0 Cheese—New Zealand White . . . . 38 6 40 0 1 6 Coloured .. .. 40 0 4Ci 0 Canadian— White .. . . 04 0 G4 0 Coloured .. .. 05 0 05 0 A month ago Danish butter was quoted at 98s per cwt. Colonial butter was in good demand. Choicest salted New Zealand was quoted at 78s to 80s; Australian, 76s to 78s; unsalted, tho same. The cheese market was steady. New Zealand white was quoted at 4!a to 455; coloured, 50s to 51s; Australian, white, 425; coloured, 48. Market conditions were described n* slow a year ago. Danish butter was quoted at 118s to 120s per cwt.; choicest salted New Zealand, 107s to 108s; Australian, 105s to 106s; unsalted New Zealand, 113s to lies; Australian, 105s to 106s. New Zealand cheese, white, was quoted at 625; coloured, 635; Australian, 61s to 625. Reports from Merchants - Merchants have received the following cablegrams from their London houses, dated April 12: A. li. Turnbull and Company, Limited, from W. Weddel and Company, Limited: —Butter: Danish, 90s to 91s; New Zealand, salted, 68s to 70s; Australian, 65s to 68s. Cheese: New Zealand, white, 38s to 40s; coloured, 45s to 465. Both markets are firm. Joseph Nathan and Company. Limited, from Trongrouso-and Nathan. Limited.—Butter: New Zealand, 71s. Cheese: White, 40s; coloured, 17s. Botli markets are firm. The New Zealand Loan and Mercantile Agency Company, Limited.—Butter: New Zealand, 69s to 70s. The market is active. Last two days advanced. Further information rumoured restriction foreign imports awaited. Cheese: White, 395; coloured, 465. The market is steady. A. S. Paterson and Company. Limited, from J. and J. Lonsdale and Company (London), Limited. —Butter: Danish, 695, f.o.b. (90s landed); New Zealand, 70s to 71s; Australian, 68s. The market is firm with an upward tendency. Demand is good and the outlook favourable. Clieeso: White, 40s; coloured, 46s to 475. Tho market is firm. Mr. W. W. Bowkor, from A. J. Mills and Company, Limited. —Butter: New Zealand, finest, 70s; first, 695; unsalted, 70s to 725; Danish, 88s to 89s; Australian, 66s to 68s, Cheese: New Zealand, white, 39s to 40s; coloured, 46s to 475; Canadian, white, 645; coloured, 6is to 665. Both markets are firm. Dalgety and Company, Limited, lrom Samuel Pago and. Son. —Butter: New Zealand, finest, 68s to 70s; Danish, 89s to 91s; Australian, finest unsalted. 60s to 68s; salted, 65s to 68s; general average quality, 62s to 645. Cheese: New Zealand, white, 38s to 40s; coloured, 45s to 475; Australian, white. 37s to 38s; coloured, 42s to 445; Canadian white and coloured, 60s to 68s. Both markets are firm.