STORED BUTTER

New Zealand Herald, Volume LXXV, Issue 23124, 24 August 1938, Page 9

STORED BUTTER

LONDON STOCKS HIGHER HEAVY FOREIGN SUPPLIES RETAIL PRICES UNCHANGED Stocks of New Zealand butter stored in London were slightly higher at the close of business last week, according to the New Zealand Dairy Board's return. The quantity held at Saturday was 0670 tons, an increase qf 140 tons 011 the previous week's figure and 734 tons more than last year's figure. The increased arrivals of foreign supplies, however, is indicated in the Imperial Economic Committee's estimate of the stocks.of all butters, which i.s 35.467 tons, against 23,352 tons at the same- date last year. The' market for all butters was steadier at the close of the week's business. The current level of New Zealand, at 120s per cwt.,- compares with 114s to 115s per cwt. a year ago. The average sterling prices of New Zealand, Australian and Danish butters during the first six months of this year, according to the London Provision Exchange, were 118s 9d, 117s ( Jd and 126s 9d per cwt. respectively, as compared with 100s, 90s 6d ana 116s 6d respectively for the same period of 1937. The average Danish premium over New Zealand butter in the six months was reduced from 16s 9d per cwt. in 1937 to 7s 9d this year. By arrangement with the Primary Products -Marketing Department, the New Zealand Dairy Board supplies the following information for the week ended August 20, figures for the previous week being given in parentheses: Butter.—Now Zealand, salted, 120s (121s); unsalted, 121s to ]22s (121 a to ]22s). Deliveries: New Zealand, 1408 tons (last year, 1450 tons); in store, 6070 tons (last year, 5936 tons), j Australian, salted, 115s to 116s (117s to J18s); unsalted, 116s to 117s (118s J to 119s). Deliveries: Australian, 988 1 tons (last year, 129 L tons); in store, | 4748 tons (last year, 4433 tons). The ; market was steadier at the end of this week. New Zealand retail price, unchanged, Is. .'3d. Danish, 109s to 110s f.0.b., 130s to 131s spot (106s, 126s to ,1275). The market is. firm. Danish retail price, unchanged, Is .'3d. Dutch, unsalted, 108s to 109s; exceptionally, Ills (107s to 108s). Lithuanian, unsalted, 110s (Ills). The market was steadier at the end of this week.

The Imperial Economic Committee estimated stocks of all butters in store at 1,418,678 boxes (last year, 934,099 boxos). Cheese. —New Zealand, white and coloured, 71s 6d to 72s (70s 6d to 71s). Deliveries: New Zealand, 15,029 crates (last year, 14.513 crates); in store, 66,844 crates (last year, 47,463 crates). Australian, white and coloured, 6Ss to 70s (67s t<} 68s 6d). Canadian, white and coloured, 78s to 80s (78s to AOs); c.i.f., 69s (695). Deliveries: Canadian, 3706 boxes (last year, 7653 boxes); in store, 89,590 boxes (last year, 117.9G9 boxes). English, finest farmers, 84s to 86s (84s to 86s); factory cheese, 60s to 66s (665). The market is firm. New Zealand retail price, unchanged, 9d.

IMPORTS TO BRITAIN NEW ZEALAND'S RECORD LAST YEAR'S TRADE REVIEWED [from our OWN LONDON, August G New Zealand supplied Great Britain with more butter in 1937 . than ever before. The Dominion exported the record figure of 154,564 tons, which represented an increase of 6 per cent over the previous record of 146,687 tons sent in the previous year. Furthermore, the marked decline in clieesu grading, a feature of recent years, was checked, and 88,222 tons were exported to the United Kingdom, an increase of 3 per cent over the previous year. New Zealand's peak for cheese exports was in 1933-34, when the total was 103,682 tons. The figures are those of the Imperial 'Economic Committee, and appear in its review. Dairy Produce Supplies in 1937. Imports of butter into the United Kingdom in 1937, amounting to 9, llG.OOOcwt., valued at £17,400,000, were the smallest in any year since 1933. Imports from Empire countries comprised 52 per cent of gross imports as against 53 per cent in 1936 and 57 per cent in 1935. Imports from Australia declined by 12 per cent. Prices were for th» greater part of 1 the year above the 1936 level. The apparent consumption of butter is estimated at 21.81b. a head as against 25.01b. in 1936. but on the other hand margarine consumption rose from 8.61b. a head in 1936 to 8.5)1 b. last year. Rising prices for dairy produce were reflected in an increase in the value of the United Kingdom's imports of these commodities last year, it is stated. The total cost of dairy produce, pig and poultry products imported was £117.000.000, or £9.000,000 more than in the preceding year, following an increase of £8.000,000 between 1935 and 1936.

In this connection several factors were of importance during 19.'!7. In Europe unfavourable weather and the incidence, of foot and mouth disease affected production to a considerable extent, and -importing countries in certain cases relaxed restrictions on imports. In the Southern Hemisphere a second unfavourable season in Australia more than offset, a further expansion in exports from New Zealand.

HIDES AND SKINS LOWER PRICES RULING Hides and skins met with fairly good compel ition at the fortnightly >ale held by Auckland brokers yesterday. Prices for hides were about !'id per lb lower, while dry sheepskins .showed a decline of about '/id. Sailed sheepskins were about unchanged, and yearlings showed an improvement. Prices for brsl grades were: Hides. —On (abattoirs), heavy, (i'id to per lb; medium. 5' 4 d to (id; light, -l 3 ;d to sd; ox (country butchers), heavy, (Id; medium, sd; light. l':,d; cow (abattoirs), heavy, .| 3 .- u d; light to medium -1, 11; cow (country butchers). heavy, 1!., d; light to medium, <l'id; farmers lull weights). M'.Jd to M 1 ;d; yearlings (abat(oirs). heavy, (i'/.d; light to medium, 7'itl- second grade, 5d to (i'id; faulty and cut. Id to -Pid; calfskins, Mlb lo 51b, !('/)(!; (ilb lo Sib, !)Hid; seconds and cut, Sd, Salted Sheepskins.—Three-quarter to full wool, large, 5s Id lo (Is each; medium. Is Md to -Is lod; quarter to half-wools, large, ■Js Sd lo Ms 2d; bare lo quarter-wools. Is :l<l tu *Js UI; quarter to half, small and faulty, !)d lo Is sd, Dry Sheepskins.— I Three-quarter to fullwool, medium to fine crossbred, 7%d to Sd per lb; damaged and faulty, (id to 7'/.d; naif-wool, medium lo fine crossbred. 7(1; damaged and faulty, s'id to (id; bare lo quarter-wool, sound, M'id lo damaged and faulty, 2 3 / id to t'/jd. Tallow, good quality, IMs (Id to Ms per cwt; second grade, lis to 12s; third, Os to Ids. SHEEPSKIN VALUES DECLINE AT DUNEDIN SALE [»Y TKT.KOIUrrt —OWN OOtUIKSPONnF.NT] DUNEDIN, Tuesday The fortnightly sheepskin auction was held to-da.V, when a medium-sized catalogue was offered lo a lull bench of buyers. The demand was not so keen and values for sound pelted lines were easier by 'id to 3 i<l per lb. Dead and damaged skins met an erratic sale, and values for these grades were from par to Id per lb easier. Following are the prices realised:—Halfbred full wools, to ttVSd; three-quarter wools, to Oil; half wools, to 7Vad; quarter wools, to (iVid; full crossbred full wools, to lid; fine crossbred three-quarter wools, to B%d; half wools, to 8d; quarter wools, to (Id; crossbred full wools, to S n /Jd; three-quartpr wools, to B'4d; half wools, fo 7d; quarter wools, fo 5%d; halfbred hoggets, to B%d; fine crossbred hoggets, to S'/ ; d; crossbred hoggets, to B'4d; first pelts, to 4',id: second pelts, to M'id; halfbred dead, to S'/ 2 d; fine crossbred dead, to 7?id; crossbred dead, to V/ t d.