BUTTER FIRM

New Zealand Herald, Volume LXXV, Issue 23181, 29 October 1938, Page 9

BUTTER FIRM

A STEADY DEMAND NEW ZEALANt) AT 114/36/- BELOW LAST YEARPrices for New Zealand butter in London are unchanged. The market is firm, and supplies are meeting with a steady demand. Choicest salted New Zealand is again quoted at 114s per cwt. Prices are now considerably belowj the value at the same time last yea£ - of 150s per cwt., when prices were reaching their seasonal peak. Australian salted butter is a shade;; higher than last week at 110s per cwt.," *" according to a Press Association message sent from London on Thursday. In unsalted butters New Zealand is selling at 116s per cwt. and Australian at Ills. The market for cheese is quiet. Both New Zealand white and coloured are . quoted 6d lower than last week at 70« ? 6d per cwt. Australian white is sell- .. ing at 68s 6d per cwt., and coloured 4 at 68s 9d. Recent quotations and those of ft year ago compare as follows: .| Oct. 28 Oct. 21 Sept. 30 Oct. 29 Butter— 1938 1838 1938 1037 New Zealand 114/- 114/- 116/- 150/Australian . 110/- 109/0 114/- 148/Cheese —N.Z.: - White .r 70/6 71/- 72/- 71/Coloured .. 70/0 71/- 72/- 09/0 • Canadian: » • White .. 72/0 72/0; 72/- 70/6, J Coloured .. 73/- 72/0 72/- 71/0Quotations on September SO were maximum rates when the market was under control as a result of the European crisis. The present price of 114s is equal to approximately 13.55 d per lb., f.0.b., New Zealand ports, compared with the guaranteed price of 14.89 d per f.o.b. The London equivalent of the guaranteed price is 124s 3d per 'jwt. The equivalent price, of cheese is about 8d per lb., f.0.b., compared with tfieV guaranteed price of 8.42 d.