BUTTER IRREGULAR

New Zealand Herald, Volume LXXIII, Issue 22350, 22 February 1936, Page 9

BUTTER IRREGULAR

DECLINE OF 3/- ON WEEK MAINTAINING RETAIL PRICE CHEESE MARKET QUIET London butter prices have fallen by 3s por cwt. over the. past week' and choicest salted New Zealand is quoted at 935. The market is irregular. A trade report states that the reduction was necessary to enable the retail price of Is- per lb. to be maintained. When sellinn at this figure, retailers have to purchase at 93s per cwt. to secure the recognised selling margin of 2d per lb. The cheese market is quiet, with quotations largely nominal. White is worth 51s 6d per cwt. and coloured 55s 6d to 565, a decline of about Is 9d on the week. A Press Association cablegram sent from London on Thursday states that the butter market is irregular. Danish is quoted at 126s per cwt.; choicest salted New Zealand, 935; Australian, 925; unsalted, New Zealand, 100s; Australian, 98s. Cheese is quiet. New Zealand, white, 51s 6d; coloured, 55s 6d to 565; Australian, white, 50s 6d; coloured, 545. Quotations are largely nominal

The following table compares the mean closing prices on the London market for the past two weeks, a month ago and a year ago: —

Feb. 21 Feb. 14 Jan. 24 Feb. 193G 193G 193(5 1935 Butter— sd sd sd sd New Zealand ,93 0 90 0 91 G 84 f Australian . . 92 0 95. 0 90 6 84 6 Danish ..126 0 129 0 116 0 110 0 Cheese—N.Z.: , „ Whit© . . 51 6 53 3 52 0 47 9 Coloured 55 9 57 6 55 0 47 9

REPORTS FROM MERCHANTS DETAILS OF QUOTATIONS Merchants have received the following cablegrams, dated February 20, from their London principals: — A. S. Paterson and Company, Limited, from J. and J. Lonsdale (London), Limited. —Butter: The market is steadier at the reduction, which was necessary to protect the retail price of Is per lb., at which figure consumption is equal to supplies. New Zealand, 935; Australian, 925. The Danish market is firm at 129s on German requirements, but the English trade is slow owing to the high Danish retail price of Is 3d Cheese: The market is steady on renewed demand at the reduction. White, 51s 6d; coloured, 55s to 55s 6d. Mr.. W. W. Boucher, from A. J Mills and Company, Limited. —Butter: New Zealand finest, 93s to 945; firsts. 92s to 935; Danish, 1275; Australian, 92s to 935. Cheese: New Zealand, white, ols 6d to 525; coloured, 55s 6d to 565. Both markets are quiet. Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited. —Butter, 935. Cheese: White, 51s 6d; coloured, 54s 6d to 555.