BUTTER IMPROVES

New Zealand Herald, Volume LXXI, Issue 21396, 20 October 1934, Page 9

BUTTER IMPROVES

MORE INQUIRY BEPOKTED f I 1 ' FINEST SELLING ABOUT 65/< FORWARD BUYING RESUMED Improvement is shown in the London butter market and there is a steadier tone. New Zealand, which is in better demand, is selling a shade dearer at 64s to 66s per cwt. The cheese market is firmer owing to short supplies. For the first time for about two months, the f.o.b. market shows some activity. Sales were made in Auckland yesterday at 8d per lb. f.o.b. for November shipment, which is equivalent to 70s per cwt., London. The Dairy Board's minimum price is B£d per lb., but the board is now allowing factories to deduct selling commission of 1J per cent from this price. Over the past week, both New Zealand and Australian butters show a fall of Is 6d per cwt. Danish is selling 3s dearer at 110s per cwt. For the period, white and coloured cheese at 49s per cwt. show rises of Is and 6d respectively. The Press Association message sent from London on Thursday states that tho market for Danish butter is firm and for others steadier after the weakness early in the week. Danish is quoted at 110s; choicest salted Australian and New Zealand, 64s to 665; unsalted Australian, 68s to 70s; New Zealand, none offering. The cheese market is. firmer. New Zealand, white and coloured, 495; Australian, 475. The following comparative tabla shows the mean closing quotations on the London market for the last two weeks:— Oct. 12 Oct. 13 Rise Fall Butter: s. <3. s. d. b. d. s. d. New Zealand .. 66 6 65 0 1 8 Australian .. 6G 6 65 0 1 6 Duniah . . . . 107 0 110 0 3 0 Cheese—New Zealand: White .. .. 4S 0 49 0 10 Coloured .. 48 6 49 0 06 —» Canadian: White .. .. 50 6 51 0 0 0 Coloured .. 51 0 51 0 The butter market was dull a month, ago. Danish was quoted at 105s; choicest salted New Zealand, 72s to 735; Australian, 71s to 725; unsalted New Zealand, 86s to 87s; Australian, 74s to 765. The cheese market was quiet. New Zealand, coloured, 455; white, 465. A year ago the market was steady. Danish was quoted at 118s per cwt.; choicest salted New Zealand, 99s to 100s; Australian, 98s to 995; unsalted New Zealand, 104s to 108s;; Australian, 102s to 106s. The cheese market was dull, New Zealand coloured was quoted at 48s; white, 495; Australian, 46s 6d and 48s, respectively. REPORTS FROM MERCHANTS "BOTH MARKETS ACTIVE" Merchants have received the following cablegrams, dated October 18, from their London principals:— Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited:—Butter: Finest, 65s to 665; first, 63s to 645. Cheese: White, 48s 6d to 495; coloured, 49s to 49s 6d. The markets are active. A. S. Paterson and Company, Limited, from J. and J. Lonsdale and Company (London), Limited.—Butter:. The market is steadier, with more inquiry for New Zealand. New Zealand, 65s to 665; Australian, 65. Cheese:; The market is firm on short supplies. White, 495; coloured, 48s; 6d. Mr. W. W. Bowker, from A. J. Mills ■and Company, Limited.-—Butter: New. Zealand, finest, 665; firsts., 645; Danish, 104s to 106s; f.0.b., 90s; Australian, 655. Cheese: New Zealand, white and coloured, 48s to 48s 6dj x Canadian, c.i.f., white, 48s; coloured, 525. Both markets are firm. Dalgetv and Company, Limited, from Samuel Page and Son, Limited.—Butter: The market is steadier. New Zealand, finest salted, 62s to 655; Danish, 107s to 109s; -Australian, finest salted, 62s to 655; finest unsalted, 64s to 68s; general average quality, 60s to 61s. Cheese: The market is steady at present prices. New Zealand, white, 48s to 48s 6d; coloured, 48s 6d to 495; Canadian, white and coloured., 50s to 525. Sir. L. McCartney, from Henry A. Lane and Company, Limited.—Butter: 65s to 665. The market is steadier. Cheese: White, 48s 6d; coloured, 49a. The market is firm. THE WOOL MARKET

GOOD ADELAIDE SALE ADELAIDE, Oct. 19 At the Adelaide wool sales to-day bidding was brisk, and competition more animated than at the previous sales in September. Good to best fleece and pieces were' about 5 per cent dearer, and inferior types firm. Of 14,513 bales offered 13,256 were sold, and of these 4937 realised lOd a lb. or more. Japan bought freely. Two German firms also operated. BRADFORD TOPS LONDON, Oct. It The Bradford tops market is firm following the harder tendency in Australia. Following are to-day's quotations and those for the three previous weeks:— Sept. 27 Oct. 4 Oct. 11 Oct. 18 1 Per lb. Per lb. Per lb. Per lb. d d d d i Seventies .. 27% 27% 27% 27% Sixty-fours .. 25% 26 26 26 Sixties .. 23% 24 24 " 24 Fifty-sixes .. '19% 19% 19% 19% Fifties ..14 14 14 14 Forty-sixes .. 11 11 11 11 Forties . . 9% 9% 9% 9%