BUTTER STEADIER

New Zealand Herald, Volume LXXV, Issue 23067, 18 June 1938, Page 11

BUTTER STEADIER

RECENT FALL CHECKED NEW ZEALAND AT 120/HIGHER DANISH PREMIUM A check to the recent steady declin® in prices on the London market for butter is indicated in the latest advice from overseas. On a steady market, New Zealand has recovered from the low levels ruling earlier in the week, when the rate was down to 119s per cwt., and the current price 120s is only Is below last week's quotations. Australian butter also has recovered from the mid-week setback and is now quoted tfd below last week's levels at 118s. ~ Danish butter shows an advance on last week's prices, the current quotation being Is higher at 1 123s per cwt. The premium for Danish, which last week was selling Is higher than New Zealand, lias been increased to 3s per cwt. A Press Association message sent from London on Thursday states the butter market is steady! Danish is quoted at 123s per cwt.: choicest salted New Zealand, 120s; Australian, 118s; unsalted, New Zealand, 1225; Australian, 120s. The market for cheese is quiet. New Zealand, white and coloured, 07s to 67s 6c3; Australian, 665. Piecent quotations and those of a year ago compare as follows: June 17 June 10 May 20 June 18 Butter— 1935 1938 IH3B 1037 New Zealand 120/- 121/- 120/- 111/Australian . 118/- 118/6 120/6 108/8 Danish .; -123/- 122/- 127/6 114/6 Cheese—N.Z.: ' White .. 67/3 68/9 71/3 74/6 Coloured .. 67/3 ' 68/9 ■ 68/3 73/6 Canadian: White .. 79/- .70/.- .7.770 .. 79/Coloured .. 70/- 79/• 78/- 79/• The basic rates fixed under the New Zealand guaranted price scheme, subject to quality differentials, are 123s Sd for butter and 70s 4sd 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 i 3 equal to 13.25 d per lb., f.0.b., and the current London quotation is equal to 14.30 d,. New Zealand ports. The equivalent price for cheese is around 7.59 d per lb., f.0.b., compared with the guaranteed price of 7.54 d. A. S. Paterson and Company, Limited, quote: —Butter: The market is firm. New Zealand, 120s per cwt.; Australian, 118s; Danish, 1235; the market is quiet. Cheese: The market is steady. New Zealand, .67s to 67s 6d per cwt.; Australian, 65s to 665. . . ,