RISE IN BUTTER

New Zealand Herald, Volume LXXII, Issue 22210, 10 September 1935, Page 8

RISE IN BUTTER

■ :K NOW AT 1 107 A* MR CWT. ' GAIN! OF 9/« IN A WEEK FIRM TONE MAINTAINED - ■ 1 1 1 ■ j', £ The rapid rise in the London butter market has continued and New Zealand closed Is higher at 107s per cwt. at the end of last week. Prices for cheese were unchanged at 52s per cwt. for white and 51s 6d for coloured. Both markets are firm, according to advice received by Joseph Nathan and Company, Limited, from its London principals, and Nathan, Limited. . - Offers for forward buying of butter were renewed yesterday at 112<.i per lb. f.0.b., equal to 100s per cwt. London, but no business has been reported. Within a week prices for New Zealand butter have risen by 9s per cwt. Except for a rise of 7s in one xveek last January, on account of New York buying, there has been no comparable movement since late September, 1933. At that time there was a marked shortage of Australian butter owing to an autumn and winter drought. Prices then rose sharply to 110s per cwt., but fell, just as quickly when heavier supplies were placed on the market. Conditions are now more favourable for retaining some of the current advance, but the outlook is by no means as clear as traders could wish.

further local increase PRICE ID PER. LB. HIGHER The third advance of Id per lb. in the local price of butter during the past week will be made today. The new net wholesale rates will be:—Finest, Is 2d per lb.; first grade, Is l}dj second grade, Is Id; whey butter, lid, Retail prices are generally 2d per lb, above the wholesale values. CANDIDATE'S WEIRD IDEA RECENT ADVANCE "ARRANGED* [bx telegraph—OWN correspondent] WHAKATANE, Monday * In his address to a small attendance of electors at the King Street Hall, Whakatane, the official Labour candi* date for the Bay of Plenty seit, Mr. A. G. Hulquist, referred to the recent steady increases in the prices of butter and cheese. He stated that prices wera up now, but after the election they would slump. Messrs. Forbes and Coates, he said, did not go te England for nothing. The increases were arranged for them. "If you farmers are gulled after my warning, well you deserve all you get," he declared.