FALL IN BUTTER

New Zealand Herald, Volume LXXIV, Issue 22628, 16 January 1937, Page 7

FALL IN BUTTER

NEW ZEALAND AT 96/DULL AND DECLINING CHEESE AGAIN LOWER Prices for New Zealand butter on the London market have declined, choicest .salted now being quoted at 96s per cwt., a drop of 2s over the week. The market is quiet. Australian shows a similar fall, but Danish is 4s higher at 110s per cwt. Tho London quotation of 96s per cwt. is equal to approximately 11.26 d per lb., f.0.b., New Zealand ports, compared with tho guar an teed price of 12.565 d. Cheese values continue to decline on a slow market. Both white and coloured are selling at 56s 6d per cwt., a fall of Is over the past week. A Press Association message sent from London on Thursday states that butter is quiet. Danish is quoted at 110s; choicest salted New Zealand and Australian, 965; unsalted, New Zealand, 98s; Australian, 975. Cheese is slow. New Zealand, white and coloured, 56s 6d; Australian, 55s to 565. Tho following table compares tho mean closing prices on tho London market for tho past two weeks, a month ago and a year ago:— Jan. 15 Jan. 8 Dec. 18 Jan. 1G 1037 1037 1030 1030 Butter— s. (1. s. fl. h. d. h. d. N.Z. .. 0(i 0 08 0 .100 0 02 0 Australian 00 0 08 0 08 0 01 0 Danish . 110 0 lOC. 0 114 0 110 0 Cheese—N.Z.: Whito . . 50 fi 57 0 03 3 54 0 Coloured . 50 0 57 0 63 3 08 0 Canadian; While .. 71 0 Coloured . 71 0 A. S. Paterson and Company, Limited, has received the following cablegram from J. and J. Lonsdale and Company (London), Limited. —Butter: The market is dull and declining. New Zealand, 955; Australian, 955. The Danish market is quiet at Ills. Cheese: The market is slow, and the ten.lcncy is easier. New Zealand, white and coloured, 565; Australan, 545. QUOTATIONS FOR WHEAT LONDON AND LIVERPOOL MARKET IN CHICAGO LONDON, Jan. 14 Wheat. —Cargoes aro fairly steady. Parcels are quiet and steady. Futures. —London: January, 46s 6d a quarter; May, 45s 5Jd. Liverpool: March, 8s lOjld a cental; May, 8s 10j?d; July, 8s 9Jd. Spot trade quiet, Australian ex ship, 47s 9d. Flour, steady. Australian ex store, 34s to 34s 3d. CHICAGO, Jan. 14 Wheat.—May, 1 dollar 34 cents a bushel; July, 1 dollar 15* cents; September, 1 dollar 11| cents.

TIN CONSUMPTION INCREASE LAST YEAR PRODUCTION ALSO HIGHER The apparent world consumption f of tin in the year ended October, 1936, totalled 153,709 tons, an increase of 13,925 tons over tho total for the previous year, according to satistics issued by the International Tin Research and Development Council. World production increased by 36,200 tons to 167,000 tons. Although the production of tin has exceeded consumption by about 13,300 tons during the year ended October, 1936, world visible stocks have increased by only 3130 tons in that period. This discrepancy is partly due to the time lag which occurs between the export of ore from the producing areas and the appearance of the metal on the market, but it also indicates that there was an increase in smelters' stocks which had not appeared in tho statistics up to the end of October. A comparison of the statistics of apparent and actual consumption indicates that tho present level of consumers' stocks is approximately the same as at the beginning of the year. The increase in tin consumption last year has been largely duo to the tinplate industry, in which there has been an increase of 17.7 per cent. In tho year ended October tho world output of tin plate reached a new record of 3,630,000 tons, against 3,083,000 tons in tho previous year. There was also an appreciable advance in the motor industry, the world output in tho year ended October, 1936, being 5,650,000 vehicles, compared with 4,509,000 vehicles in tho previous 12 months. _ Considering tho consumption of tin by countries, in the United States of America there was an increase of 12,209 tons in the year ended October, 1936, as compared with the preceding year. The United Kingdom consumption was 21,512 tons, which represents a slight doereaso of 369 tons. Russian consumption continues to increase at a rapid rate, a new record of 9227 tons haying been reached in the year under review, representing an incrcaso of 33.4 nor cent. Substantial increases aro recorded also for tho following countries: — Franco, 19 per cent; Japan, 16 per cent; Canada, 12.8 per cent; Czechoslovakia, 28.7 per cent; Belgium, 19.3 per cent; and Poland, 34.4 per cent. In Germany thero was a decrease of 23.6 per cert. TRADE OF BRITAIN IMPORTS AND EXPORTS LONDON, Jnn. 14 The Board of Trade returns for December show that the principal increases were as follows: — Imports.—Grain and flour. £2,141,000; wool and raw waste, £1,548,000; meat, £946,000: dairy produce, £818,000: wood and timber, £781,000; hides and skins. £648,000; non-ferrous metals and manufactures, £841,000; machinery, £530,000; oils, fats and resins, £411,000. Exports. Beverages and cocoa, £643,000; wool and raw waste, £480,000; cotton yarns and manufactures, £666,000;" woollen and worsted yarns and manufactures, £406,000; vehicles, £737,000; miscellaneous __ wholly or mainly manufactured, £535,000. Reexports. —Wool and raw waste, '£660,000; hides and skins, £456,000. The chief decreases were: Imports.— Fresh fruit and vegetables. £511,000; beverages and cocoa, £509,000; cotton and raw waste, £916,000. INCREASED IMPORTS FACTORS R ESPONSIBLE ► (Received January 15, 5.5 p.m.) British Wireless RUGBY, Jan. 14 Imports in December wore swollen by rising prices of raw materials and heavier buying required by the expansion in tho homo manufacturing output. Against the big increase in merchandise imports aro to be set iargc increases in what aro called invisible exports. The earnings of British shipping interests, and dividends on capital invested overseas, also the receipts from foreign and Imperial tourist traffic in Britain, which are included under this heading, are known to have advanced strongly. The newspapers say they are confident that tlie trade accounts for the past year will be found on full examination to be highly satisfactory.