BUTTER MARKET QUIET

New Zealand Herald, Volume LXXIII, Issue 22356, 29 February 1936, Page 9

BUTTER MARKET QUIET

NEW ZEALAND 88/- TO 89/DANISH PRICE ADVANCES CHEESE VALUES EASIER The London butter market is very quiet, with choicest snlted New Zealand quoted at 88s to 89s per cwt., a fall of 4s on the week. The price of Danish, however, has risen by lis •indcr pressure of German buying. Cheese remains quiet, with prices slightly lower over the week. White is worth 50s 6d to 51s per cwt. and coloured 54s to 555, A Press Association message sent from London on Thursday states that the market for butter is irregular. Danish is quoted at 135s per cwt.; choicest salted New Zealand, 89s; Australian, 88s; unsalted, New Zealand, 965; Australian, 945. Cheese is quiet. Now Zealand, white, 50s 6cl to 51s; coloured, 54s to 555; Australian, nominal. white, 49s 6d; coloured, 535. The following table compares the mean closing prices on the London market for the past two weeks, a month ago and a year ago:—

DAIRY BOARD'S VALUES LOWER BUTTER RATE [BY TEIiECRAPH —PRESS ASSOCIATION] WELLINGTON, Friday The New Zealand Dairy Board has fixed minimum prices for f.o.b. and c.i.f. sales on the basis of butter, IOJd per lb. (a fall of }d) and cheese, 52d (unchanged). These rates are subject to agents' selling commission of 1£ per cent and are equivalent to butter, 80s 4d per ewt., c.i.f.e., and cheese, 49s 7d per cwt., c.i.f.e. REPORTS FROM MERCHANTS DETAILS OF QUOTATIONS _____ Merchants have received the following cablegrams, dated February 27 from their London principals:— Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited. —Butter: 88s to 89s. Cheese: White, 50s; coloured, 545. Both markets are very quiet. Mr W. W. Bowker, from A. J. Mills and Company, Limited. —Butter: New Zealand finest, 8&s to 89s; firsts, 87s to SBs; Danish, 1355; f.0.b., 114s; Australian, 88s to 89s. Cheese: New Zealand, white, 51s to 51s 6d; coloured, 54s to 54s 6d; Canadian, white and coloured, 60s to 625. Both markets are slow. Mr. L. McCartney, from Henry A. Lane and Company, Limited.—Butter: 88s to S9s. The market is unsettled. Cheese: White, 50s 6d to 51s; coloured, 54s 6d to 555. The market is quiet, with prices slightly weaker. A. S Paterson and Company Limited, from J. and J. Lonsdale and Company (London), Limited. —Butter: The market is quiet, with buyers inactive. New Zealand, 88s; Australian, 87s; Danish, 1355. Cheese: The market is slow. White, 50s; coloured, 545. PRICES OF METALS FURTHER RISE IN TIN (Keceived February 28, 7.35 p.m.) LONDON, Feb. 27 Following are to-day's quotations on the London metal market, compared with those of February 26:

GOLDEN CROWN SHARES RETURN TO OFFICIAL LIST The shares of the Golden Crown Gold Mining Company, N. L., which were removed from the official list of the Auckland Stock Exchange on September 19, are to be reinstated. This decision was reached at a meeting of the exchange yesterday, following receipt of a letter from a number of shareholders pointing out the difficulty caused through the shares not being listed. When the shares were last quoted officially, buyers were offering 6s 6d and holders were asking 7s 6d. CANTERBURY PRODUCE MARKETS VERY SLACK [BT TELEGRAPH —PRESS ASSOCIATION] CHRISTCHURCH. Friday Apart from inquiry for fowl-wheat for prompt shipment, there is very little more activity in the grain and produce markets than there was immediately after the rains of last week. Occasional orders are coming in for a number of lines, but trade in all sections is abnormally slack. The demand for fowl-wheat has increased as supplies of prompt arc hard to get. The quotation is from 4s 6d to 4s 7d a bushel, f.o.b. for prompt shipment. The market fqr spread shipment is inactive at present. Northern offers are being made at 4s 4d a bushel, f.0.b., but there are no sellers here. A fair amount of threshing has. gono on in the past, few days, fine weather having allowed farmers to get into their stooked crops, and supplies will probably become more plentiful. There has been an increase in the price offered by merchants to farmers for ryegrass, the quotation now being Is 9d per lb. An offer of Is 6d did not attract any business at all and merchants have been forced to put up the price. There is not a great deal of business. The white clover crop now appears to have been rather badly damaged by the rains and floods, as a big proportion of the crop is grown where the floods were worst. The potato market is quiet again after the rise immediately following the rains. The quotation to-day is nominally 85s a ton. f.0.b., but Southern ports are accepting 82s 6d, and this is bound to weaken the market further. Here business is very restricted, as there is practically no demand from the North. Onions remain quiet at £2 10s a ton to farmers. SALE AT AUCTION C. F. Bennett, Limited, reports having sold at auction yesterday a waterfront dairy farm of 193 acres at Beach Road. Papakura, for £6300. Bidding started at £SOOO. •

Feb. 28 Feb. 21 Jan. 30 Feb. 1936 1936 1936 1935 Butter— s d s d New Zealand 89 0 93 0 Australia 88 0 92 0 8 9 9 d s d 5 0 80 6 1 0 80 6 Danish . . 135 0 126 0 Cheese—New Zealand: White .. 50 9 51 6 Coloured . . 54 C 55 9 Canadian: White . . 61 0 — Coloured CI 0 — 115 0 110 0 53 0 46 0 57 6 46 0 61 6 63 0 62 0 59 0

Feb. 517 Feb. 26 Per ton Per ton £ s d £ s d Copper, stan., spot . . 35 11 3 35 16 3 Copper, stan., 3 mos. Copper, electrolytic . . 35 18 9 36 3 li 40 0 0 40 0 0 to to 40 5 0 40 10 0 Copper, elect., wire bars 40 5 0 40 10 0 Lead, soft, spot 16 8 9 16 5 .0 Lead, soft, forward . . 16 10 0 16 7 6 Spelter, spot 15 17 6 15 15 0 Spelter, forward 16 1 3 16 0 0 Tin, stan., spot 213 10 0 209 17 6 Tin, stan., 3 mos. .. 203 10 0 201 12 6