BUTTER MARKET QUIET

New Zealand Herald, Volume LXXII, Issue 22149, 1 July 1935, Page 5

BUTTER MARKET QUIET

FIRM TONE CONTINUES NO CHANGE IN PRICES ADVANCES TO FACTORIES Prices for New Zealand butter on the London market are unchanged at 89s to 90s per cwt. The market is quiet, but a firm tone has been maintained. The cheese market is steady, with prices unchanged at 45s to 45s 6d per cAvt. Advances to factories against consignment in July have been fixed for butter Id higher at BJd per lb. and for cheese unchanged at 4d per lb. For July last year the rates respectively were 7}d and 4d. Recent reports from Australia indicate that weather conditions thero have remained unfavourable for production. The output of the chief producing States, New South Wales, Queensland and Victoria, has been affected considerably. Merchants have received tho following cablegrams, dated June 28, from their London principals:— Mr. H. S. Witliei •s, from A. C. Rowson. —Butter: First, BSs to 89s; finest, 89s to 90s. Cheese: White, 45s Gd; coloured, 455. The markets are slow, but firm. Allen and Findlay, Limited, from Armour and Company, Limited.— Butter: The market is quiet, but firm. New Zealand, salted, 88s to 89s; unsalted, 88s to 89s; Australian, 87s to Danish, 102s. Cheese: The market is steady. New Zealand, white, 45s to 465; coloured, 44s to 455; Canadian, 61s. A. H. Ttirnbull and Company, Limited, from W. Weddel and Company, Limited. —Butter: Danish, 102s; New Zealand, salted, 89s; Australian, 86s. Cheese: White and coloured, 455. There is rather less demand. New Zealand Producers' Co-operative Marketing Association, Limited. —Butter: New- Zealand, 89s to 90s; Danish, 102s. The market is firm. Cheese: "White, 45s to 45s 6d; coloured, 44s Gd to 455. The market is steady.

DAIRY BOARD'S REPORT The Now- Zealand Dairy Board lias received the following market report from its London office, under date June 28, the previous week's figures being given in parentheses:— Butter. —New Zealand, salted, equals approximately 10.42 d, f.0.h., 89s to 90s (88s to 90s); unsalted, 88s to 92s (86s to 90s). Deliveries: New Zealand, 137S tons (last week, 1447 tons; last year, 1372 tons); in store, 7430 tons (last week, 617.5 tons; last year 11,750 tons. Australian, salted, 86s to 87s (86s, ex 87s); unsalted, 86s to 87s (85s to 80s). Deliveries: Australian, 1943 tons (last week, 1377 tons; last year, 1450 tons); in store, 9170 tons (last week, 8440 tons; last year, 9436 tons). The market is quiet, but firm. New Zealand retail price, lid. South Africa. Sis (82s); Irish, cream, salted, SBs (88s); unsalted, S9s (90s); Danish, 102s spot, 80s, f.o.b. (101s to 102s, 78s); Dutch, unsalted, 80s to 84s (80s, ex 87s); Estonian, salted, 84s; unsalted. 84s (80s); Siberian, salted, 83s to 85s (82s to 84s); Ukrainian, salted, 82s to 83s (81s to 82s); Polish, salted. 75s to 77s (74s to 78s); Lithuanian, salted, 82s to 84s (78s to 80s); Lithuanian, unsalted, 82s to 84s 78s to 82s). Danish retail price, unchanged, Is. The market is quiet. The Imperial Economic Committee estimate of stocks of all butters in store, 1,047,995 boxes (last rear, 1,638,275 boxes). Cheese. —New Zealand, white, 45s 6d (44s 6d to 455); coloured, 45s (44s to 44s 6d). Deliveries: New Zealand, 20,056 crates (last year, 20,370 crates); in store, 173,162 crates (last vear, 143,944 crates). Canadian, white, 62s to 64s (62s to 645); coloured, 64s (61s to 645). Deliveries: Canadian. 3087 boxes (last year, 7521 boxes); in store, 43,269 boxes (last year, 58.705 boxes). Tho market is steadier. New Zealand retail price, unchanged, 6d. English finest farmers, 82s to 90s (82s to 90s); English factory cheese. 34s to 44s (34s to 425). The market is quiet.

MINIMUM F. 0.8. RATES w NO CHANGE IN SCHEDULE The Dairy Produce Board has fixed the minimum f.o.b. prices for the period from June 29 on the basis of 10|d per lb. for butter and 5d per lb. for cheese, equivalent to 86s 4d and 44s per cwt. c.i.f.e., respectively. Prices are unchanged, the f.o.b. rates being less li per cent commission. CANTERBURY PRODUCE LIGHT POTATO SHIPMENTS fnv TELEGRAPH —PRESS ASSOCIATION] CHRISTCHURCH. Saturday The produce market during the week has been very quiet. The easier tendency apparent in the middle of the week has not developed and prices tire unchanged from those ruling a week ago. In the potato section "Whites and Dakotas are quoted at £6 5s a ton f.0.b., s.i. There is not much business with farmers, but prices on trucks aro unchanged at about £5 a ton. The Auckland market is scarcely so strong. An unsettling factor is that the high price is tending to restrict consumption. A circumstance emphasising this assumption is that the light shipments for June have had no effect in stimulating the price. Exact figures for the month aro not yet available, but it is considered that the June shipments have been the lightest for some years. Ordinarily this would set inquiries going strongly, and a reasonable deduction is that there are supplies of consigned potatoes still on hand in the northern centre. Possibly small shipments this week will assist these stocks to be cleared. The tone for future months is firm, August and September delivery being quoted at £7 5s f.o.b.s.i. There is very little trading beirg done at the figure. Opinions continue to be divided about the quantity of potatoes in the country. The fowl feed market is very quiet. There is little inclination to trade in view of the reduction of 3d a bushel in the price of Wheat Board wheat shortly to 4s Id a bushel f.0.b., s.e. A grade Garton oats continue to ho firm, although there is little life in the market. The f.0.b., s.i., values for A s are 3s 7d to 3s Bd, and for B's 3d less. There is not much offering from the countrv.

Chaff continues to meet with an inactive market. Values are £3 os a ton on trucks. There is no business at the moment in small seeds, but recent quotations are fully maintained.

COOK ISLANDS COPRA A further extension by three months, from to-dav, of the period during which the duty is* suspended on copra exported from the Cook Islands, other than Nine, is notified in the Gazette. After September 30 duty at a rate to be determined will again be payable. The duty was imposed on June 24, 1918, but was suspended on March 20, 1934,