BUTTER MARKET QUIET

New Zealand Herald, Volume LXXIII, Issue 22391, 11 April 1936, Page 7

BUTTER MARKET QUIET

HOLIDAY ATMOSPHERE NO CHANGE IN PRICES RISE OF I/- TO 2/- IN WEEK New Zealand butter is selling on the London market at 88s to 89s per cwt., unchanged. Over the week this is a rise of Is to 2s per cwt. The market is quiet owing to the holidays. There is a steady demand for cheese, which is quoted a shade lower at 53s to 53s 6d per cwt. However, prices are higher over the week.

A Press Association message sent from London on Thursday states that tho butter market is quiet. Choicest salted, New Zealand, 88s to 89s; Australian, the same. Unsalteds: New Zealand, 89s to 90; Australian, 88s. The cheese market is steady. New Zealand, white and coloured, 53s to 53s 0d; Australian, white, 50s to 51s; coloured, 51s to 525. The following table compares tho mean closing prices on the London market for the past two weeks, a month ago and a year ago:— Apl. 10 Apl. 3 Mar. 13 Apl. 1936 1930 1936 1935 Butter— sd sd sd s d New Zealand 88 C 87 0 85 0 78 0 Australian . 88 6 87 0 85 0 74 0 Danish . . 118 0 114 0 120 0 98 0 Cheese—N.Z.: White . . 53 3 52 6 50 3 44 6 Coloured . . 53 3 52 9 62 9 46 6 Canadian— White Coloured REPORTS FROM MERCHANTS "GOOD FEELING PREVAILS" Merchants have received the following cablegrams, dated April 8, from their London principals:— A. S. Paterson and Company, Limited, from J. and J. Lonsdale and Company (London), Limited:—Butter: The market is quieter, under the influence of holiday trading. New Zealand, 86s to 87s; Australian, 86s to 87s, Cheese: The market is quiet. New Zealand, white and coloured, 53s to 53s 6d; Australian, 51s 6d to 525. Mr. L. McCartney, from Henry A. Lane and Company, Limited:—Butter: 87s to 88s. Cheese: White and coloured, 53s to 53s 6d. Both markets are quiet with little doing, but a good feeling prevails.

Allen and Findlay, Limited, from Armour and Company, Limited:—Butter: The market is quiet. New Zealand, salted, 87s to 88s; unsalted, 88s. Australian, 88s; Danish, 118s. Cheese: The market is steady. New Zealand, white and coloured, 53s to 545.

Joseph Nathan and Company, Limited, from Trcngrouse and Nathan, Limited:—Butter: 87s. The market is quiet. Cheese: White and coloured, 535. The market is firm.

AUSTRALIAN EXPORTS BASIS OF GRADE POINTING (Received April 10, 10.35 p.m.) SYDNEY, April 10 The Australian Dairy Produce Board reports that during the season ended March 28 last 75,055 tons of Australian butter were exported to the United Kingdom, compared with 93,876 t,ons during the previous season, showing a decrease of 20 per cent. The board decided that the word "Australia" should be impressed on all the choicest and first grade Australian butter, and the Department of Commerce agreed to adopt a recommendation that the grade pointing of Australian butter should be placed on the same basis as that of the New Zealand product. QUOTATIONS FOR WHEAT LONDON AND LIVERPOOL FUTURES IN CHICAGO LONDON, April 8 Wheat.—Futures—London: May, 28s 3d a quarter; November 28s 4£d. Liverpool: May, 6s Ifd a cental; July, 6s l£d; October, 6s ljd. CHICAGO, April 8 Wheat futures: May, 94| cents a bushel; July 85J cents; September, 84J cents. MEAT IN LONDON FIRM MARKET FOR LAMBS SHORTAGE OF FROZEN BEEF The Now Zealand Meat Producers' Board has received the following report regarding the Smithfield meat market:—Lambs: The market continues firm, especially for second quality, which has advanced slightly. Consumption is satisfactory for the time of the year. Mutton: The market for lightweight wethers is a shade easier owing to poor demand. Other descriptions are steady and unchanged. Ewes continue short. Quotations are more or less nominal. Beef: The market for frozen beef is nominal. Practically none is available. New % Zealand porkers: Prices are unchanged, but. with larger supplies available and in sight, the tendency of the market is easier. New Zealand baconers: The market is steady and unchanged.

AUSTRALIAN MARKETS SYDNEY AND ADELAIDE (Received April 10," 8.80 p.m.) SYDNEY, April 9 Following are yesterday's prices on the Sydney produce market:—Wheat, at country sidings, bagged and bulk, 3s 2d. equal to 2s Bid ex trucks Sydney. Flour, £9 10s. Bran and pollard, £6. Potatoes, Tasmanian, £7 10s to £8; others, £6 10s. Onions, Victorian brown, £lO. Maize, new season's, 4s od. Adelaide prices are:—Wheat, growers' lots. 3s 6id. Flour, bakers' lots, £9 10s. Bran and pollard, £6 2s 6d. Oats, Algerian, Is 9d to Is lOd. BarIcy. Is 10d ' PRODUCTION OF STEEL BRITAIN'S RECORD MONTH (Received April 10, 6.45 p.m.) British Wireless RUGBY, April 9 The production of steel ingots and steel casting in the United Kingdom last month reached the highest tonnage on record. It was 980,100 tons, compared with 938,500 tons in the month before and 841,900 tons a year ago. The production of pig iron in March amounted to 633,600 tons, against 584,700 tons in the month before and 554,200 tons a year ago.