BUTTER DECLINES

New Zealand Herald, Volume LXXV, Issue 22943, 22 January 1938, Page 9

BUTTER DECLINES

BELOW GUARANTEED RATE LONDON MARKET QUIET CHEESE MAKES For the first time since December 10 the London quotation for New Zealand butter is below the guaranteed price level, at 110s. This is only the second time this season that the quotation has been below 112s. The fall since last week is Is 6d. Danish butter also has suffered a decline, being quoted up to 3s cheaper at from 132s to 13.)5. Cheese has registered the expected advance. A Press Association message sent from London on Thursday states that the market is slow. Cabled quotations are:—Danish, 132s to 134s per cwt.; choicest salted New Zealand, 110s; Australian, 109s; unsaltcd, New Zealand, 113s; Australian, Ills' to 112s. The cheese market is quiet, with New Zealand Tvliite at 69s to 69s Gd per cwt., coloured, 70s; Australian, white, 67s 6d; coloured, 67s 6d. Recent quotations and those of a year ago compare as follows: — Jan. 20 Jan. 13 ; Dec. 18 Jan. 23 Butter— J 038 1938"* 1037 1037 New Zealand 310/- 11 -I® 1* \l- [&/' Australian .. 100/Danish .. 133/- 135/- 100/- 111/6 WhUe e—X ' Z '. : 69/3 67/- 65/6 53/6 Coloured .. 70/- 68/• 65/- 52/9 Canadian: "White .. 73/6 72/6 .3/- <O/0 Coloured .. 73/6 "73/6 <3/- <ll m The basic rates fixed under the NewZealand guaranteed price scheme, subject to quality' differentials, are 123s 8d for butter and :70s 4}d for cheese per cwt., f.0.b., New Zealand currency. The equivalent landed price for butter in London is 112s and for cheese 675. The guaranteed ,price for butter is equal to 13.20 d per lb., f.0.b., and tho current London quotation is equal to 13.03 d, New Zealand ports. The equivalent price for cheese is around 7.91 d per lb., f.0.b., compared with the guaranteed price of 7.54 d. A. S, Paterson find Company, Limited, quotes:—Butter: The market is very slow. New Zealand, 110s per cwt.; Australian, 109s; Danish, 132s 6d. Cheese: The market is quiet. New Zealand, white. 69i» 6d; coloured, 70s; Australian, 66s 6d to 675.

SHORTAGE IN CANADA BIG IMPORTATIONS LIKELY OTTAWA, Jan. 70 Heavy importations of Australian butter are expected as Canada's supply is short by 8,000,00.01b., and prices are rising. WOOL IN LONDON RATES FIRM AT SALE NEW ZEALAND IN DEMAND LONDON, Jan. 20 At the London wool sales 6470 bales were offered, including 1966 bales from New Zealand; 5847 were sola. There was a fairly good selection with a. strong demand from the Home trade, which, .in spito of Continental competition, secured the bulk of the offering. Rates were firm, and bidders were anxious to buy. Withdrawals were negligible. Yorkshire was attentive. Crossbreds from New Zealand met an active demand/Quotations included: New Zealand greasy crossbred, marked Owetea, 12jjd to 12|d; scoured crossbred lambs, marked Napier, lod to 17§d.. BRADFORD MARKET STEADY TONE REPORTED LONDON, Jan. 30

The Bradford market is steady. With the London wool sales in progress there is slightly more business. Following are to-day's quotations and those oJf recent weeks: —

MORE BOBBY CALVES COLLECTIONS IN WAIKATO [from our own corrf.spokpent] HAMILTON, FrW&y Collections of bobby calves to the end of December exceeded 173,000, an increase for the season to that date of approximately 9000, states Mr. W. A. Phillips, chairman of directors of the New Zealand Pig Marketing Association, in his latest rteport. The export value of the calves, he says, has slumped during the last few weeks but, through favourable selling contracts, a successful season has been experienced by the association.

WHEAT, FLOUR AND SUGAR

LONDON, Jan. 20 Wheat.—Cargoes are easier and parcels are unchanged. Futures.—London: January, 45s lid a quarter; March, 44s IOJd. Liverpool: March, 7s 7Jd a cental; May, 7s 7jd; July* 7s 7fd. Spot trade quiet and irregular. Australian ex ship, 40s 3d. Flour, steady. Australian ex ship, 29s to 30s. Raw sugar, beetroot basis, 6s OJd a.cwt.

Seventies Sixty-fours Sixties Fiftj-eights Fifty-sixes Fifties Forty-sixes Forties ! Dec. 30 Jan. 6 Jan. 13 Jan. 20 per lb. per. lb. per lb. per lb. ' d d d i -33 30 29 29 .. 31 28% 27 % 27V* . .: 30 27% '26/4 26% .. 26 24% 23% 23% .. 24% 23 : 22% 22% . .. 19 18% 18% 18V, . .. _ *17% 518 *18 . .. — *17% *18 *18 Xot quoted. 'Nominal.