RISE IN BUTTER

New Zealand Herald, Volume LXXIV, Issue 22819, 28 August 1937, Page 9

RISE IN BUTTER

NEW ZEALAND AT 110/LONDON MARKET FIRMER CHEESE VALUES ADVANCE . There has been a rise in the price of New Zealand butter on the London market. Choicest salted is quoted at 116s per cwt., an increase of 6d on tho mid-week value and Is 6d higher than at the end of last week. Danish has advanced even further and the premium over New Zealand now stands at 14s per cwt. Cheese values also have recovered on a firm market. White is selling Is higher at 68s 6d per cwt., while coloured at about 68s shows a full gain of 2s 3d. No announcement has yet been made regarding tho guaranteed -price for the new season. The past year's rates, subject to quality differentials, were 117s 3d for butter and 63s' 7d for cheese per cwt. f.0.b., New Zealand currency. , The equivalent landed prices in London were approximately to 106s for butter and 60s 6d for cheese. The guaranteed price for butter was equal to 12.565 d per lb. f.0.b., .and the current London quotation is equivalent to ' approximately 13.79 d pe£ lb. f.0.b., New Zealand ports. The equivalent price for white cheese i$ 7.75 d per lb. f.o.b. and coloured 7.68 d per lb. f.0.b., compared with the guaranteed price of 6.81 d. A Press Association message sent from London oil Thursday states that butter is firmer. Danish is quoted at 130s; choicest salted Australian and New Zealand, ,116s; unsalted, New Zealand, 118s; Australian; 117s to 118s. ' Cheese: New Zealand, white, 68s 6d; coloured, 67s 6d to 68s 6d. The following table compares the mean closing. prices on the London market for the past two weeks, a month ago and a year ago:— Aug. 27 Aug. 20 July 30 Alag ,^2B 1037 1037 1037 1936 Butter— New Zealand 110/- 114/0 118/6 118/6 Australian . 116/- 113/6 117/6 118/6 Danish 130/- 125/- 121/- 12 6 /6 Cheese—N.Z. : White .. 08/6 67/6 75/- 72/Coloured .. OS/- 65/9 72/- 67/Canadian: White .. 00/0 08/- 72/9 69/3 Coloured .. G9/G GB/- 72/- 69/3 A. S. Paterson and Company, Limited, quote:—Butter: The market is quieter at the advance. New Zealand, 116s; Australian, nominal, 116s; Danish, the market is .firm, 1335. Cheese: The market is firm. White, 69s to 69s 6d; coloured, 68s 6d to 695.