BUTTER MARKET QUIET

New Zealand Herald, Volume LXXIII, Issue 22351, 24 February 1936, Page 5

BUTTER MARKET QUIET

PRICES SLIGHTLY LOWER NO CHANGE IN CHEESE STEADIER TONE AT CLOSE Prices for New Zealand butter on the London market are a shade easier at 91s to 93s per cwt. The demand is quiet. Cheese is quoted unchanged at up to 52s per cwt. for white, and 56s for coloured. There was a steadier tone in the cheese market at the end of the week, according to sonic reports. Stocks of New Zealand butter in London increased last week by 598 tons to 3706 tons, which compares with 7064 tons held at this time last year. Stocks of all butters in London amount to 11,138 tons, against 11,658 tons Inst year. Merchants have received the following cablegrams, dated February 21, from their London principals: Allen and Findlay, Limited, from Armour and Company, Limited. — Butter: Now Zealand, salted, 91s to 925; unsalted, 97s to 98s; Australian, 925; Danish, 12Gs. Cheese: White, 51s to 525; coloured, 54s to 555. Both markets are quiet. Mr. H. S. Withers, from Rowson and Company, Limited.—Butter: First, 91s 6d; finest, 92s 6d. The market is quiet, but steady. Cheese: White, 51s 6d; coloured, 555. The demand is poor and the market is weak. New Zealand Producers' Co-operative Marketing Association, Limited. —Butter: New Zealand, 92s to 935; Danish, 126s to 128s. The market is quiet. Cheese: White, 51s to 525; coloured, 55s to 565. The market closed steady after a quiet week. A. H. Turnbull and Company, Limited, from W. Weddel and Company, Limited.—-Buttec: Danish, 128s; New Zealand, salted, 935; Australian, 925. Cheese: White, 525; coloured, 555. Both markets are quiet. Mr. L. McCartney, from Henry A. Lane and Company, Limited.—Butter: 92s to 935. Cheese: White, 51s 6d to 525; coloured, 555. The market is quiet. DAIRY BOARD'S REPORT The New Zealand Dairy Board has received the following market report from its London office, under date February 21 (the previous week's prices being given in parentheses) : Butter. —New Zealand, salted. 92s to 93s (equals approximately 10.80 d f.0.b.) (95s to 965); unsalted, 100s (102s). Deliveries: New Zealand, 2363 tons (last year, 2345 tons); in store, 3706 tons (last year. 7064 tons). Australian, salted. 91s 6d to 92s (94s 6d to 955); unsalted, 98s (100s). Deliveries: Australian, 2364 tons (last year, 2629 tons); in store, 3974 tons (last year, 3369 tons). The market is quiet. New Zealand retail price unchanged.- Is. Argentine, unsalted, 96s (94s to 995); South Africa, 90s to 91s (—). The market is quiet. Danish, 108s f.0.b., 128s spot (108s and 126s to 128s). The market is steady. Danish retail price, unchanged, ls> 3d. Dutch, unsalted, 98s to 117s (97s to 113s); Polish, salted. 90s, up to 92s (935, up to 965); unsalted, 91s to 94s (94s to 955). The market is quiet. Imperial Economic Committee's estimated stocks of all butters in store, 445,502 boxes (last year, 466,326 boxes). Cheese. —New Zealand: White, 51s to 525, equals approximately 5.59 d f.o.b. (53s to 53s 6d); coloured, 555, up to 565, equals approximately 6.08 d f.o.b. (57s to 57s 6d). Deliveries: New Zealand, 18,687 crates (last year, 17.604 crates); in store, 70,221 crates (last year, 129,565 crates). Australian: White, 49s to 50s; coloured, 53s to 545. Canadian: White, 60s to 62s (60s to 625); coloured, 60s to 64s (62s to 645); old season's white, 67s to 68s (65s to 765). Deliveries: Canadian, 3995 boxes (last year, 6695 boxes); in store, 111.371 boxes (last year, 100,766 boxes). South African: White, 50s. The market is steadier at the end of the week. New Zealand retail prices unchanged, 7d and Bd. English finest farmers, 96s to 106s (96s to 106s); factory, 48s to 56s (48s to 545). The market is quiet. MINIMUM F. 0.8. PRIDES NO CHANGE IN RATES The minimum f.o.b. rates fixed by tho Dairy Board for the period from February 22 are unchanged as follows: —Butter, lid per lb., and cheese, 5Jd. These rates are equivalent to 89s Id and 49s 7d per cwt., c.i.f.e., and are less 1£ per cent commission. PRODUCE FOR AMERICA SHIPMENT FROM LONDON LONDON, Feb. 21 A shipment of 300 tons of New Zealand butter will bo made to America from England to-morrow, owing to the New York price advancing from 37 to 39 cents per lb. It is the first shipment for nearly a year. The rise in prices in New York is due to the extremely cold weather experienced. It is unlikely that shipments will bo made direct from New Zealand. CANTERBURY PRODUCE EFFECTS OF FLOOD DAMAGE [BY TELEGRAPH —PRESS ASSOCIATION.! CHRISTCHURCH, Saturday Rain has to some extent disorganized the grain and produce markets, because it will be some days before any accurate estimate of tho amount of damage dono to crops still in tho paddocks and crops still standing can bo arrived at. Deliveries from the country have, _ of course, ceased in the meantime. No idea can yet be formed of the damage to wheat crops. Apart from crops in some small localities washed away by flood, tho rain need not necessarily do great harm. The weather of the next fewdays will bo tho deciding factor. A certain amount of wheat has already come in under grade, mainly through too great a percentage of moisture, but the last storm need not have added greatly to this total. It is generally thought _ that the Akaroa cocksfoot crop will not bo as badly damaged as might at first sight have been imagined, unless the weather continues to be wet and muggy. Estimates of the damage from reliable sources put the loss at' only about onetenth of the total crop. In tho meantime there has been a rather more active inquiry, and the price has tended to harden, though it is still 6d to 7d per pound, according to quality. The ryegrass crop will not be affected by the rain, as it is mostly in. Quotations remain tho same.

With tho fear that some crops might be damaged, cither by flood or by lying in water, the potato market has taken a turn upward, and the quotation is now about 90s a ton f.0.b., though there are signs that this will weaken. The potato crop will come to practically no harm at all, provided the water in paddocks is given an opportunity to get away quickly. It docs not improve the quality of potatoes to have them in waterlogged ground for too long. Onions remain about tho same, with not a great deal of interest in the trade.