BUTTER IMPROVES

New Zealand Herald, Volume LXXIII, Issue 22403, 27 April 1936, Page 7

BUTTER IMPROVES

INCREASE OYER WEEK NEW ZEALAND AT 88/CHEESE VALUES HIGHER London butter prices have risen by Is per cwt. over the past week and choicest salted New Zealand is quoted at SSs. The market is firm. Danish continues to fall and is now worth 100s per cwt. Cheese values also have increased. White is selling Is 3d per cwt. dea.at 545, while coloured is 9d higher , t 53s 6d per cwt. The market is steady. Forward sales of .butter for small parcels have been made at lljd per lb. f.0.b., equal to 96s per cwt., London. Buyers now appear to have withdrawn. Sales of cheese at 6d per lb. to the end of the season have been made, and further offers at 6|d per lb. are reported in the South. A Press Association cablegram sent from London on Thursday states that the butter market is firm. Danish is quoted at 100s per cwt.; choicest salted and unsalted New Zealand, SSs; Australian, 88s. Cheese is steady. New Zealand, white, 54s 6d; coloured, 53s 6d; Australian, white and coloured, 51s 6d to 525. The following table compares the mean closing prices on the London market for the past cwo weeks, a month ago and a year ago:— Apl. -23 Apl. 17 Mar. 26 A pi. 1936 1936 1936 1935 Butter— sd sd sd b d New Zealand 68 0 87 0 S3 0 6 Australian .. 88 0 87 0 83 0 73 0 Danish .. 100 0 105 0 US 0 91, 0 Cheese—N.Z.: White .. 54 0 52 9 49 9 44 6 Coloured .. 53 6 52 9 51 6 46 0 Canadian— White .. 61 0 Coloured .. 62 6' I REPORTS FROM MERCHANTS DETAILS OF QUOTATIONS Merchants have received the following cablegrams, dated April 23, from their London principals:— Mr. Leslie McCartney, from Henry A. Lane and Company, Limited.—Butter, 88s. Cheese: White and coloured, 545. Both markets are firm. A. S. Paterson and Company, Limited, from J. and J. Lonsdale and Company (London), Limited: —Butter: The market is firm. New Zealand, 89s; Australian, 88s to 89s; Danish, 103s. . Cheese: The market is firm. Whitß, 54s 6d; coloured, 545. Mr. W. W. Bowker, from A. J. Mills and Company, Limited. —Butter: The market is firm. New Zealand finest, 87s; firsts, 86s; Australian, 87s; Danish, 100s; f.0.b., 80s. Cheese: The market is firm. White, 53s 6d to 545; coloured, 60s to 625. Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited.—Butter, 88s to 89s. Cheese. 54s to 54s 6d. Both markets are firm. OUTLOOK -UNSETTLED STATISTICAL POSITION SOUND (Received April 26, 5.5 p.m.) LONDON, April 25 Butter opened the week poorly. First grade by the Mooltan was offered as low as 84s. Speculation lifted prices to SSs, but the outlook is unsettled. The statistical position remains sound. Stocks in cold store are 10,000 tons, compared with 12,400 last year. Imports in March totalled 37,000 tons, compared with 44,000 in March last vear. CANADA AND WHEAT "PERFECT CORNER" POSSIBLE NATIONAL BOARD'S POSITION (Received April 26, 5.5 p.m.) OTTAWA, April 25 The Canadian Government, according to the evidence of the chairman of the National Wheat Board, Mr. Murray, before a Parliamentary Committee, i 9 in a position to execute "the most perfect corner" in wheat ever known in the world. He hastened to add, however, that the Government - contemplated no such action. Mr. Murray explained that the exporters, millers and speculators in many parts of the world would be at the board's mercy if called upon to make actual delivery of wh<%at held by the board under the May options. "We would have a perfect corner." said Mr. Murray, "and we could squeeze these gentlemen and make them settle at our own price." BRADFORD TOPS MARKET NOW FIRMER LONDON, April 23 The Bradford tops market is firmer and busier, and consumption of yarns is well maintained. Following are to-day's prices and those of recent weeks:— Apl. 2 Apl. 9 Apl. 16 Apl. 23 , Per lb. Per lb. Per lb. Per lb. d d d d Seventies .. 34% 34% 35 35 Sixty-fours .. 33 33 33 33 Sixties .. 32 31»X 32 32 Fifty-eights . . 26 27 26 26 Fifty-sixes .. 2]% 21 21% 21% ■ Fifties .. 16 3 i 16 16V. 16M Forty-sixes .. 14% 14VJ 14% 14% Forties .. 13% 13% 13% 13% LONDON MARKETS WHEAT AND FRUIT (Received April 26, 5.5 p.m.) LONDON, April 25 The wheat market is unstable, but Australian cargoes have found a ready market without much change in values. Millers are buying freely on "less favourable reports of the American winter wheat prospects. The fruit market is steadily improving. Australian apples generally are satisfactory. Pears also are in good demand, as supplies of Argentina and South African are considerable reduced. The Imperial Economic Committee's statistics show a large decrease in arrivals of Australian apples compared with last year. RABBITSKIN SALE HIGH PRICES AT DUNEDIN A large catalogue was offered at the rahbitskin sale held at. Dunedin last week. Competition was very keen, and there wag n marked increase in prices in all. grades. Early-caught skins advanced from 4d to fid per lb, while later-caught lines advanced from 9d to 18d per lb. The following is the range of prices:—Small, 2nd per lb: runners, 393 d: milky. 34d : summer bucks, 39? d; summer does, 34? d; light racks, 44? d: prime racks, 44? d: dawny autumn. iftyd: early autumn, 63d: second early autumn, ofid; second late autumn. 66d: late autumn. 77d: second incoming, 725 d; first incoming. 903 d: early autumn bucks, 671 d: autumn does, 46d: autumn broken. 41} d: firs*-early winter bucks, 99} d: second (iarlv winter bucks, 7£d; late autumn and incoming hucks, Win; summer fawn. 30id: autumn fawns, 421 d; summer blacks, 31* d? rack blacks, 36d: autumn blacks. 421 d; lata autumn blacks, 45d: hareskins, 23} d to 32d.