BUTTER MARKET QUIET

New Zealand Herald, Volume LXXI, Issue 21763, 31 March 1934, Page 14

BUTTER MARKET QUIET

PRICES A SHADE FIRMER

DANISH SHOWS DECLINE IMPROVEMENT IN CHEESE The improvement in the London butter market lias been maintained and prices for New 'Zealand are a shade firmer at 73s to 74s per cwt. Owing to the holidays the market is quiet, but according to one report received there is a strong undertone. Over the week Now Zealand butter is Gd higher and' Australian has also gained that amount, selling now at 71s 6d. A feature has been the decline in Danish prices over the period from 92s to 88s. This is attributed to competition from other cask butters. The cheese market also shows a "holiday" tone, but prices have moved in sympathy with butter and the market is firm. Now Zealand white and coloured arc selling at 44s per cwt, a rise of 6d over the week. The Press Association message sent from London on Thursday states the butter market is quiet. Danish is quoted at 88s; choicest salted New Zealand, 73s to 745; Australian, 71s to 725. Unsalted the same. The cheese market is quiet. Now Zealand, white and coloured, are -quoted at 41s; Austrail an 7 42s 6(1 to 455. The following comparative table shows the mean closiifg quotations on the London market for the last two weeks: —

A month ago the butter market was quiet after an active week. Danish was quoted at loos per cwt.; choicest saltcrl New Zealand, 7ls to 725; Australian, 69s to 70s; unsalted, -about Is per cwt. premium. The cheese market was slow. New Zealand, white, 435; coloured, 45s Gd; Australian, none offering. The market was depressed a year ago. Danish was quoted at 925; choicest salted New Zealand, G7s to 695; Australian, 66s to 675; unsalted the same. New Zealand white cheese was quoted at, 40s; coloured, 47s to 48s; Australian, white, 395; coloured, 465.

OUTLOOK TOR PRICES EXTENT OK PRODUCTION Unchanged to slightly higher prices for butter are expected in the near future, according to a cablegram received by A. S. Paterson and Company, Limited, from its London principals, •T. and J. Lonsdale and Company (London), Limited. The messags states: — "The-extent of any increase in prices depends upon whether New Zealand and Australian production is such as to reduce supplies to tho United Kingdom market to the extent of necessitating and justifying higher retail prices. Production in England is likely to show a large increase as the result of the Government milk scheme. The imports of Continental butter are also expected to increase owing to the natural increased production and the practical closing of the German market." REPORTS FROM MERCHANTS i DETAILS OF QUOTATIONS

Merchants have received the following cablegrams, dated March 28, from their London principals: — - A. S. Paterson and Company, Limited, from J. and J. Lonsdale and Company (London), Limited: —Butter: New Zealand, 72s 6d; Australian, 71s 6d; Danish, 65s f.o.b. (86s landed). The market is quiet and buyers are inactive owing to the holidays. There is a firm undertone. The Danish market is weak owing to the retail price of other cask butters reducing the demand. Cheese: Whito and coloured, 445. The market is quiet, but there is a firm undertone and a price decline is not anticipated. Dalget.v and Company, Limited, from Samuel Page and Son. —Butter: New Zealand finest, 72s to 735; Danish, 90s; Australian finest unsalted, 70s to 725; finest salted, 70s to 725; general average quality, 68s to 695. The market is of a "holiday" character. Cheese: New Zealand white, 445; coloured, 445; Australian coloured, 42s to 435; Canadian white and coloured, 50s to 5Gs. A. H. Turnbull and Company, Limited, from W. Weddel and Company, Limited. —Butter: Danish, 925; New Zealand salted, 72s to 735; Australian, 70s to 725. Cheese: White, 44s to 44s 6d; coloured, 445. Both markets are quiet but steady. Mr. L. McCartney, from Henry A. Lane and Company, Limited.—Butter: 735. Cheese: White and coloured, 445. I3oth markets are steady and are likely to remain so. New Zealand Loan and Mercantile Agency Company, Limited. —Butter: 735. the market is quiet. Cheese: Whito, 445; coloured, 44s to 44s 6d. Tho market is slow.

Mar. 23 Mnr. 30 .Rise Fall Butter— s A R (I s d s d New Zonland 73 0 73 6 0 6 — Australian . . 71 0 71 6 0 C — Danish . . 0i> 0 88 0 — I 0 Cheese: New Zealand— White . 43 r> 44 n 0 P, — Coloured 43 r» U 0 0 6 — CanadianWhite . 63 o 53 n — — Coloured . . 53 0 53 0 — —