BUTTER RECOVERS

New Zealand Herald, Volume LXXIV, Issue 22777, 10 July 1937, Page 11

BUTTER RECOVERS

RISE OE 11- ON WEEK NEW ZEALAND AT 110/CHEESE STILL FALLING The London market for New Zealand butter has recovered from the slight - setback suffered in recent weeks. Choicest salted is quoted at 110s per cwt., a rise of Is over the week, on a firm market. The current price is now below that ruling a year ago, when values had just commenced to rise sharply, later reaching the peak level of 122s per cwt. The steady fall in cheese values'continues. White is soiling at 70s 6d per cwt., a drop of Is 9d on the week, while coloured is 2s 9d lower at 69s per cwt. The basic rates fixed under the guaranteed price scheme, subject to quality differentials, are 117s 3d for butter and 63s 7d for cheeso per cwt. f.0.b., New Zealand currency. The equivalent! landed prices in London are approximately 105s to 106s for butter and 60s 6d for cheese. The guaranteed price for butter is equal to 12.560 d per lb., f.0.b., and the current London quotation is equivalent to approximated 13.03 d per lb., f.0.b., New Zealand ports. A Press Association message sent from London on Thursday states that butter is firm. Danish is quoted at 11 •ss; choicest salted New Zealand, 110s; Australian, 109s; nnsalted New Zealand, Ills; Australian, 110s. Cheese is quiet. New Zealand, white, 70s 6d; coloured, 695; Australian, 69s to 68s. The following table compares the i mean closing prices on the London market for the past two weeks, a month ago and a year ago:— July 9 July 2 June 11 July TO 1937 3937 1937 1936 Butter—• s. (1. 8. d. s. d. s. d. N.Z. .. 110 O 109 O 110 O 11 1 O Australian 109 O 107 0 109 O .113 O Danish .. 115 O 114 0 112 0 125 O Cheese —N.Z.: White .. 70 G 72 3 74 C 01 0 Coloured . 09 0 71 9 73 9 61 0 Canadian: White .. 79 0 79 0 79 0 GS 0 Coloured . 79 0 79 0 79 0 G5 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 firm. New Zealand, Ills; Australian, 110s; Danish, ll<"s- Cheeses The market is steady. White, 71s} coloured, 695.

LONDON WOOL SALES BETTER DEMAND SHOWN CURRENT RATES MAINTAINED LONDON, July 8 At the London wool sales to-day 7459 bales were offered, including 4564 New Zealand and 6432 were sold. There was better demand for a very good selection and full current rates were maintained. New Zealand sales included: —Slipe, halfbred lambs', "Feilding," top price, 2Hd; average, 19d; greasy halfbreds, "Jaireka," 19d. BRADFORD MARKET n PRICES REPORTED FIRMER LONDON, July 8 The Bradford market is firmer, but business continues moderate. Following are..to-day's quotations and those of recent weeks: — " June 17 June 24 July 1 July 8 d d d d Seventies.. 39% 39 39 39% Sixty-fours. 37% 37 % 3i /2 3i/ a Sixties . . 36 36 36 36 I Fifty-eights 32% 32/ a V-A 3-Fifty-Sixes . 29% 29% 29% 29% Fifties . . 26 2G 2G 25% Forty-sixes 25% t 25 ■ •25 25 Forties . . 25%+ 25 25 -5 tNominal. FACTORY CLOSES DOWN TRANSFER OF SUPPLY MAROKOPA COMPANY'S DECISION [FROM OUR OWN CORItKSrONDKST] HAMILTON, Friday The operations of the Marokopa Cooperative Dairy Company, Limited, Awamarino, a small butter manufacturing company near Te Anga, King Country, have been brought to a close as the result of a unanimous decision passed at a largely-attended meeting of the shareholders of the company yesterday. The shareholders decided _to supply the New Zealand Co-operative Dairy Company, Limited, with their cream for the future, commencing from the beginning of next season, which opens on August 1. The shareholders also authorised the New Zealand Co--operative Dairy Company, Limited, to dispose of the assets of the Marokopa company. Last season the company manufactured 200 tons of butter. In future the cream from the district will be treated at the New Zealand Cooperative Dairy Company's factory at Otorohanga. The closing down of the Marbkopa company is an outcome of the investigations and recommendations of the Executive Commission of Agriculture.

GRAIN AND PRODUCE CHRISTCHURCH MARKET ALL SECTIONS REMAIN QUIET [BY TELEGRAPH —PRESS ASSOCIATION] CHRISTCHUKCH, Friddy /.There has boon little activity in the grain and produce markets this week, all sections having remained particularly quiet. Potatoes are weaker and little business is being done. Shipments to the North Island have been heavy enough, with local supplies, to restrain interest in outside markets and few sales are being made to the latter. Outports are taking a few, but the price for Whites is equivalent to about £5 on trucks, and for Dakotas about £5 15s. The bulk of requirements for further export orders has been secured. Onions have firmed because of the short supply of good quality, and up to £S has been paid in the country. The small seeds market is dead in the meantime and little activity is expected for a month. Stocks are not by any means heavy, so the market should be firm when "the spring demand eventuates. . The following are prices quoted to farmers 011 trucks at country sidings unless otherwise indicated: —■ WJieat: Milling, July, f.0.b.: Tubcan, os 4d; Hunters, os 6d; Pearl, ss. Bd. Fowl wheat: Prompt, to os Id, f.o.b. Oats: A Gartons, to 3s 4d; B gartons, 3s Id; Algerians, to 2s ]od; Duns, 2s 9d to 3s. 3d Bve< r rass: Perennial, 2s 6d to 3s; Italian, 2s 6d to 2s 9d._ Cocksfoot: Plains, 7d to 8d: Akaroa, od to Od per lb. Cowgrass: Gd to 7}d per lb. White Clover: To IOJd. Chaff: to 14 2s 6d a ton. Barley: Feed, 4s a bushel. Partridge peas: 4s 9d to 5s a bushel. Potatoes: Dakotas," £5 15s a ton; Whites, £5. Bran: Large. £4 15s; small, £0 ss. Pollard: Large, £6 5s a ton; small, £0 15s. . Reports of Country Stock Sales appear on Page 9.