MARKET IN LONDON

New Zealand Herald, Volume LXXIV, Issue 22822, 1 September 1937, Page 9

MARKET IN LONDON

HIGHER PRODUCTION GREATER CONSUMPTION BOARD'S DETAILED REPORT Production of butter in New Zealand and Australia is beginning to increase, but the aggregate output up to the end of last inontb does not differ materially from tbe total last year, according to the Weekly Dairy Produce Notes issued in London. An im l provement in weather conditions in Australia is essential if production is to show a normal trend. Arrivals of butter from New Zealand and Australia during July, including quantities still to arrive, totalled 635,750 boxes, as compared with 690.600 boxes in the preceding month and 553,.'500 boxes in July, 1936. Shipments due to arrive in August amounted approximately to 569,000 boxes, according to present advices, against 396,600 boxes in the same month last year. Present prospects suggest that supplies in September will be about the same as last year. During last week prices for New Zealand butter on the London market rose by about 2s to 116s to 11/s per cwt., and the market was steady at the advance.

By arrangement with the Primary Products Marketing Department the following information is supplied for the week ended August 28, figures for the previous week being given in parentheses:— Butter. —New Zealand, salted, 116s up to 117s (114s to 115s); unsalted, 117s to 118s (115s to 117s). Deliveries: New Zealand, 1796 tons (last year, 1320 tons); in store, New Zealand, 7293 tons (last year, 4281 tons). Australian: Salted, 116s, exceptional 117s (113s to 114s); unsalted, 116s to 117s (114s to 115s). Deliveries: Australian, 1075 tons (last year, 6"0 tons); in store, 3796 tons (last year, 2214 tons). New Zealand retail price unchanged, Is 3d. Danish, 112s f.0.b., 132s spot (106s to 1265); Dutch, unsalted, 112s to 113s (107s to 109s); Siberian, salted, Ills to 112s (107s to 110s); Lithuanian. salted, 112s t.o 113s (110s). 'J lie market is steady. Danish retail price unchanged, Is 3d. Cheese. —New Zealand, white, 68s to 69s (67s to 68s); coloured, 67s 6d to 69s (65s to 665). Deliveries: New Zealand, 20,526 crates (last year, 14.635 crates); in store. 59,165 crates (last year, 54.813 crates). The .market is firm at the advance. New Zealand retail price unchanged, 9d to lOd. Australian, white, 67s (66s 6d); Canadian, whitp, 69s to 70s (69s to 70s); coloured, 70s ( —-); e.i.f.. 67s (665); old season's, white, 80s (80s). Deliveries: Canadian. 7653 boxes (last year, 6150 boxes): in store, 119,822 boxes (last year. 63.882 boxes). The market is steady. English, finest farmers', 88s to 90s (88s to 90s); factory, 57s (70s); South African, coloured, 66s (66s to 675). The market is firm. THE DAIRY INDUSTRY TE KAHA COMPANY'S YEAR TOTAL AVERAGE PAY-OUT 12 |D

[IJY TELEGRAPH —OWN CORRESPONDENT] OI'OTiKI, Tuesday

There was a largo attendance of shareholders at the. annual meeting of the To Ivaha Co-operative Dairy Company. The chairman of directors, Mr. Haukino Paora, in moving the adoption of the report and balance-sheet, said that with the guaranteed price the uniform pay-out for the season had been quite satisfactory. Without the guaranteed price the pav-out would have fluctuated in sympathy with the London market. There was a feeling of content among the suppliers. The guaranteed price was good for the small farmer, who did not have to employ much labour. The directors had interested themselves in the compensating price campaign and had agreed that the company should support the project. Zoning of suppliers was quite suitable for the company and would do away with competition. New plant had been purchased and installed, and suppliers wore urged to supply the best possiblearticle. The election of directors resulted in Messrs. Wairua Peta, Hiki Do! inn ore and Wharetunoa being elected. The Native Trustee, Wellington, was reelected auditor. The directors' report stated that the net profit was £704 7s, and an additional payment of jkl per lb. of butterfat was recommended over the wliojo season. The output had reached 252 tons, an increase of nearly 25 per cent. The average pay-out over all grades was 11.52:kl per lb., and with cream cartage added made a payment of Is Did at farm gate for finest cream. Application had boon received from the people of To Kalia for financial consideration for the work tliev did when erecting tho factory buildings and plant. The directors recommended making a donation from the funds of the company. TALLOW AND HEMP EASTERN TROUBLE REFLECTED The Department of Agriculture has received the following cablegram, dated August 28. from the High Commissioner for New Zealand, London: Tallow. —The market continues dull with quotations slightly lower. Hemp.—The Manila market is dull and easier. The market is affected by the position in the Far Fast. K grade quoted sellers for September-November shipments, £'27 10s. Tho oufput from Januarv 1 to August 23, was 916,000 bales. Stocks in the United Kingdom at Julv 31 were 9917 bales, against 18,79:} bales at tho same time last year. Stocks in Manila on August 2:5 were 17(5.000 hales, against 16(5.000 bales at the same time last year. The sisal market is quiet but steady at about last week's rates. In New Zealand there is no change to report. Stocks in Loudon on August J were 101 tons, against 93 tons at the same time last year.

HIDE PRICES LOWER SKINS ABOUT UNALTERED There was a general casing in values for 1 hides at tho fortnightly sale- of hides and skins held hy Auckland brokers yesterday. .Prices dropped hy from %d to Id per lb. Sheep and calfskins were about unchanged, but tallow was slightly easier. Prices for best grades were:—Hides: Ox (abattoirs), heavy. !) s id per lb; medium, 9%d; tight, SVad to S 3 /Sd; ox (country butchers), heavy, S%d to !)d; medium, BV ? d to B%d; light, 7d to "7 x /d; cow (abattoirs), heavy, Sd; light to medium, sd to B',id; cow (country butchers), heavy, lV„d to ~ 1 /d; lifrht to medium, 7Vid.to 7V<(l; farmers (all weights), o'/jd to (! J .id; yearlings (abattoirs), heavy, B%d to !)d; light to medium, l'Jd; .second grade, 0/<d to lOVM; faulty and cut, (i%d to 8V«d; calfskins, :tlh to slb, lid" to- 14%<1; Gib to Sib, 15 1,0 15VW; seconds and cut, l'Jd to 1 2V 2 d; slippy, r>d to lO'/^d. Salted Sheepskins.—Three-quarter to full, large, lis to 12s 3d each; medium, 9s 4d to 10s (3d; half-wool, large, 7s (id to Ss Cd; medium, 5s Od to 7s; small and light, Is i)d to 3s Sd. Dry Sheepskins.—Three-quarter to fullwool. medium to fine crossbred, 15% d to 1 (id per lb; damaged and faulty, l id' to 13V'd; half wool, medium to fine crossbred, 12VS«i to 13d; damaged, faulty, }>',4d to lid; hare to quarter-wooi, sound. lOVid to lid; damaged and faulty, 7V 2 d to fid. 41 • Tallow.—Good quality, 21s to 21s Gd per cwt; 'second grade, ISs to 10s; third, 16s Gd to 17s Gd.