DECLINE IN BUTTER

New Zealand Herald, Volume LXXV, Issue 22949, 29 January 1938, Page 9

DECLINE IN BUTTER

NOW QUOTED AT 106/-

LONDON MARKET STEADY, 6S BELOW GUARANTEED PRICE A further drop in the price of New Zealand butter has occurred on the London market. Since the close of last week choicest salted has declined by 4s per cwt., the latest quotation being 106s, 6s below tho guaranteed price of 112s, compared with the mid-week price of 108s, and last we'ek's value of 110s. The price, however, is still well above that ruling at the same time last year, when it had fallen to 905.. The Danish product has declined even more noticeably than New Zealand butter. Against last week's price of 1335, it is now quoted at 1265. Australian' has dropped by 4s to 105s. Both white and coloured cheese from Nevj; Zealand and Australia have fallen in price. A Press Association message sent from London on Thursday states that the market for butter is steady. Quotations are:—Danish, 126s per cwt.; choicest salted New Zealand. 106s; Australian, 105s; unsalted, New Zealand, 110s; Australian, 109s. The cheese market is reported to be quiet, wit'h New Zealand white at 675; coloured, ,67s 6d to 68s; Australian, white and coloured, 60s 6d to 665. Recent quotations and those of a year ago compare as follows: Jan. 27 Jan. 20 Dec. 30 Jan. 29 I IMS 1«J35 3937 1037 Mutter— New Zealand 100/- 1101- 112/• 90/Australian .. JOIO9/- 309/- 90/Danish .. 120/- 133/- 140/- 116/Cheese—N.Z.: White . . 07/- 09/3 04/- 31/6 Coloured .. 07'9 70/- 04/6 51/Canadian: White .. 74/- 73/6 72/6 71/Coloured .. 73/3 73/6 73/•" 71/6 Tho basic rates fixed under the New Zealand guaranteed price scheme, subject to quality dilferentials, are -123s 8d for butter and 70s 4}d for cheese per cwt., f.0.b.. New Zealand currency. Tho 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 the current London quotation is equal to 12.52 d, New Zealand ports. Tho equivalent price for cheese is around 7.68 d per lb., f.0.b., compared with tho guaranteed price of 7.54<1. A. S. Paterson and Company received the following cablegram from London:—«• Butter: The New Zealand market is slow at 106s; Australian is steady at 104s; Danish is weak at 1245. Cheese: The market is slow. New Zealand, white, 675; coloured, 68s; Australian. 645.

LAMBS FOR EXPORT FREEZING WORKS BUSY CHANGES IN EXPORT PRICES The killing of fat lambs for export is continuing at high pressure and freezing-works are operating to capacity. Fat pigs are also coming forward in large numbers. Export schedule prices for lambs on hooks at Southdown freezing works for this week's killings are unchanged as follows:—Up to 361b., 7Jd per lb.; 371b. to 421b., 7jd; over 421b. and seconds, 7£d. The pig schedule is now as follows:—! Up to 801b., 6id per lb.; 81-1001b.. 5Jd; 10J.-1601b., s|d; 161-1801b. t 4Jd; 181-2001b., 4£d; over 2001b., 3Jd; exportable choppers,. 3Jd; unexportable choppers, 2d; second quality, id lesa nil round.