BUTTER STEADIER

New Zealand Herald, Volume LXX, Issue 21640, 4 November 1933, Page 7

BUTTER STEADIER

DANISH PRICES RISE

LARGER GERMAN BUYING

LONDON DECLINE CHECKED

There is every indication in the London butter market at the close of business this week that the sharp deolino in prices that has occurred during tho last two weeks has been arrested. While prices of New Zealand liavo eased a further "s per cwt. over tho week to 88s to 90s, representing a decline of 12s per cwt. in the last tlireo weeks, Danish have; advanced Cs per cwt. on additional "German buying. This has had a steadying effect on other butters, large quantities of which have been selling at the lower prices. ! The market, however, remains extremely sensitive to reports of increased production, and the much lower advances against consignment announced by agents for November reflect the weaker position, liates for butter have been reduced ljd to 9'd per lb. f.0.b., and for cheese Jd to 4d per lb. f.0.b., compared with thoso ruling in October. The Press Association message despatched from London on Thursday states that Danish butter is firm at 118s to 120s. Others are steadier at a lower level. Choicest salted New Zealand, 88s to 90s; Australian, 86s to 87s; uusalted are not quoted. Tho cheese market is steady. New Zealarid, coloured, 48s; white, 495; Australian, white and coloured, 465. The following comparative tablo shows the mean closing quotations for finest butter and cheese in cwts. on the London market for the last two weeks: Oct. 27 Xov. 3 Ri»e Fail Butler— s <1 s d s d s d Xew Zealand 90 0 89 0 Australian . . 95 0 SO G 8 0 Danish . . 113 0 119 0 GO Cheese—New Zealand: White . . 48 0 49 0 1 0 Coloured . . 47 0 4S 0 10 Canadian: White . . 5- 0 510 Coloured . . 52 0 51 0 A month ago the butter market was slow. Danish was quoted at 106s . to 108s per cwt.; choicest salted Ne\V_ Zealand, 98s to 101s; Australian tho same. Unsalted was scarce. New Zealand was quoted at 106s to 108s; Austialian, 104s to 106s. The cheese market was dull. New Zealand, white and coloured were quoted at 49s to 50s. A year ago the market for Danish butter was firm and active at . 1243 per cwt. Others were slow. New Zealand choicest salted was quoted nominally at I03s; first grade, 95s to 965; Australian choicest. 945; New Zealand, unsalted, 108s to 109s; Australian, 98a to 100s. The cheese market was dull. New Zealand, coloured, was quoted at 60s; white, 665. REPORTS FROM MERCHANTS DETAILS OF QUOTATIONS Merchants have received the following cablegrams from their London houses, dated November 2: — A. S, Paterson and Company,Limited, from J. and J. Lonsdale and Company, Limited.—Butter: Market is steadier in sympathy with higher prices of Danish, owing to Germany buying. Danish, 98s, f.o.b. (119s landed); New Zealand, finest salted, 89s; first, 82s; Australian, 80s and 82s. Tendency colonial easier. Cheese: Market is firm on short stock. White and coloured, 48s; Canadian, 48s 6d, c.i.f.

Joseph Nathan and Company,, Limited, from Trengrouse and Nathan, Limited.—Butter: Finest, 87s; first, 82s.

Dalgety and Company, Limited, from Samuel Page and Son.—Butter: New Zealand, finest salted, 83s to 88s; Danish, 116s to 118s; Australian, finest unsalted, 102s to 106s; finest salted. 80s to 87s; general average quality, 76s to 78s. Cheese: New Zealand, white, 48s to 495; coloured, 47s to 48s; Canadian, white and coloured, 50s to 535. Both markets are steadier. .Large quantities sold this week —butter at 82s, cheese afc 45s per cwt. . Mr. W. W. Bowker, from A. J. Mills and Company, Limited. —Butter: New Zealand, finest. 88s to 90s; first, 82s to 83s; Danish. 115s to 116s; f.0.b., 965; Australian, 82s to 86s. The market is quiet. Cheese: New Zealand, white and coloured, 48s to 495; Canadian, white and coloured, 50s to 525. The market is steady.

Mr. L. McCartney, from Henry A. Lane and Company, Limited. —Butter: New Zealand, finest, 89s; first, 82s. The market is steadier. Cheese: White and coloured, 48s. The market advanced suddenly.

Mr. M. O. Stewart, from R. and W. Davidson. Limited, Glasgow.—Butter: New Zealand, salted, 83s to 90s; unsalted, 106s to 114s. The market is a shade qiyeter. Cheese: White, 48s; coloured, 47s to 48s. The market is quiet but steady.