BUTTER ADVANCING

New Zealand Herald, Volume LXX, Issue 21554, 27 July 1933, Page 5

BUTTER ADVANCING

NEW ZEALAND AT 82s IMPROVED STOCK POSITION AUSTRALIAN SUPPLY DECLINES The improved tone which developed in the London dairy produce market at the opening of this week is being maintained. Latest reports received by agents in Auckland announce a further rise of Is per cwt. in finest New Zealand butter, which is now being quoted at 82s per cwt. The market is active and has an upward tendency. It is contended the market hj! being influenced by the improved stock position in London. Compared with a month ago there are now over 2000 tons less Australian and New Zealand butter in store. The movements of stocks in store at the third week in each of tho last three months is shown ip tho following table:— May June July Tons Tons Tons New Zealand . . 9,400 10,767 9,700 , Australian . . 4,800 5.050 3.97G Totals . . . . 1-1.200 15,817 13,678 Deliveries in the third week of the same three months compare as follows; May June July Tons - Tons Tons New Zealand . . 1.482 1,300 2,050 Australian . . 1,900 938 1,050 Totals . .. 3,382 2,238 . 3,100 In comparison with stocks at the corresponding date of July, 3932, the present quantity in store is 6440 tons greater, but the increased New Zealand deliveries are offset to some extent by the reduction in Australian shipments as a result of recent drought conditions in Victoria. Values oil the London market declined in June as stocks increased and the present stock reduction, * in spite of larger deliveries, is regarded as a most favourable factor. Low prices have greatly stimulated consumption and it is believed the market is at present reflecting the improved demand, apart from quota considerations. Merchants have received the following cablegrams from their London houses, dated July 25: Mr. H. S. Withers, from Air. A. C« Rowson. —Butter: New Zealand, 82s, Market has an upward tendency. Cheese: Prices are unchanged at:— White, 495; coloured, 525. Joseph Nathan and t Company, Limited, from Trengrouse and Nathan, Limited. —Butter, 82s. Cheese: White, 495; coloured, 51s. Both markets' are more active. New Zealrnd Producers' Co-operative Marketing Association, Limited. —■ Butter: New Zealand, 80s to 82s; Danish, 965. Cheese: White, 495; coloured, 51s to 525. Both markets ara firm.