FALL IN BUTTER

New Zealand Herald, Volume LXXV, Issue 23139, 10 September 1938, Page 9

FALL IN BUTTER

NEW ZEALAND AT 123/-MID-WEEK RISE LOST SLOW LONDON MARKET J The upward trend of butter prices in London during'the past few weeks lias been checked. Choicest salted New Zealand is selling at 123s per cwt. While this is the same level as that ruling at the close of Inst week, the rise to 12os per cwt. which took place in tlio middle of the week has been lost. Tlio market is described as slow. The price of Australian butter shows a similar movement, according to a Press Association message sent from Loudon on Thursday. The latest quotation of 120s per cwt. is Is lower than the mid-week figure':. Danish has dropped by about 2s Gd' during the past week. In unsalted butters, New Zealand is selling at 321s per cwt., and Australian 121s per cwt. Cheese values have boon maintained over the past week, and both white and coloured New Zealand remain at 73s per cwt. The market is steady. Australian cheeso is a shade higher at from 70s to 70s 6d per cwt. Recent quotations and those of a vear ago compare as follows: Sept. 9 Sept. 2 Aug. 5 Sept. 10 1038 1938 1938 1037 Butter— New Zealand 123/- 123/- 122/- 116/Australian . 120/- 120/- 120/- 110/Danish .. 134/- 136/6 124/- 132/Cheese—N.Z.: White .. 73/- 73/- 69/- OS/3 Coloured .. 73/- 73/- 69/- 69/3 Canadian: White .. 71/6 70/- 79/- 70/6 / Coloured .. 71/6 79/- 79/• 70/0 The basic guaranteed price for butter, including the recent additional payment, is equal to 13.G8d per lb. f.0.b., and the current London quotation is equal to 14.68 d, New Zealand ports. Tlio equivalent price for cheese is about 8.31 d per lb., compared with tlio present guaranteed price of 7.70 d.v A. S. Paterson and Company, Limited, quotes:—Butter; Tlio market is slow. New Zealand, 1235; Australian, 120s; Danish, l.'ios. The, market is quiet. Cheese: The market is quiets. New Zealand, 735; Australian, 70s. BRADFORD TOPS TONE OF MARKET EASIER LONDON, Sept. & The Bradford market is easier with no expansion of business. Following are to-day's quotations and those of recent weeks: — Aug. IS Aug. 25 Sep. 1 Sep. 8 per lb. per lb. per lb. per lb. d*d d d Seventies .. 28 28 27 26% Sixty-fours .. 20% 20% 25% 25 -'■ Sixties .. 25% 25% 24% 21 " Fifty-eights .. 22 22 21% "21.-Fifty-sixes .. 20 20 19 18%" Fifties . ..17 17 -17 10% Forty-sixes .. *1(1% *16% *16% *16% Forties . .. *16% *16% *lO% *lO% "Nominal.