BUTTER MARKET SLOW

New Zealand Herald, Volume LXXVI, Issue 23336, 3 May 1939, Page 9

BUTTER MARKET SLOW

NO CHANGE IN PRICES ACCUMULATION OF STOCKS LARGE NEW ZEALAND TOTAL A slow market ruled for Nov Zealand butter in London at the close of last week, with choicest salted quoted unchanged at Ills per cwt. J his is considerably below tbo price of 128s to 120s g'hich was reached at the same time Inst year. Retail values are unaltered. Xew Zealand selling; at Is 2d per lb. and Danish at Is 3d.

Although, stored stocks are normally high at this period of the year, the accumulation is more marked at present. Xew Zealand stocks have risen by over 800 tons over the past week, and now stand at 7257 tons, as against (3119 tons a year ago. Stocks of Australian butter, however, show a reduction of L!GB tons since last week to 21S1 tons, compared with 1141 tons at the same time last year. The Imperial Economic Committee has estimated that stocks of all butters stand at 783,620 boxes, compared with G07,089 boxes a year ago. Bv arrangement with the Primary Products Marketing Department, the following information is supplied by the New Zealand Dairy Board for the week ended April 28, figures for the previous week being given in parentheses: Butter.—Xew Zealand: Salted, 114s (Ills); un sal ted, 117s to 118s (118s). Deliveries: Xew Zealand. lb'Jl tons (last vear 2158 tons); in store, 72-5< tons (last year (3119 tons). Australian: Salted," 112s, ex. 11 -is (112s to ll:?s); unsalted, 11 is to Ilos (114s to llos). Deliveries: Australian, 1518 tons (last year 140G tons); in store. 2181 tons "(last year 4441 tons). Danish: 105s f.0.b.,'120s to 127s spot (lOos, 126s to 1275). Dutch: Salted, 108s to 109s (—): unsalted, 108s to 109s. ex. Ills (109s to 110s). Polish: Salted and unsalted. 107s to 109s (109s). South Africa: 105s to 108s (105s to 109s).

Cheese. —New Zealand: White, not quoted (60s); coloured, 60s ((30s). Deliveries: New Zealand. 10,989 crates (last year 17,780 crates); in store, 117,991 crates (last year 72.9-10 crates). Australian: White, 52s to 56s (52s to 565); coloured, 55s to 57s (55s to 575). Canadian: White and coloured, 71s to 71s (71s to 71s); old season's, coloured. 82s (82s). Deliveries: Canadian, -'3618 boxes (last year 3619 boxes); in .store. 71.928 boxes (last year (30,429 boxes). English: Finest farmers', 88s to 100s (88s to 100s); factory, 56s (60s to 60s). South African: White and coloured, 50s tiT*sss (50s to 575). The market is slow. New Zealand retail prieo unchanged at 8d per lb.

EXPORT PRICES FALL

CONCERN IN AUSTRALIA LOWEST LEVEL SINCE 1934 Export prices in Australia were lower in March than for several years. Thi? steady decline began last year. Treasury officials are now concerned at the possible serious effects ol the fall in national income on the Commonwealth's budgetary position at a time when serious demands are being made by the greatly expanded defence programme. . The chief movements in individual prices in March, compared• with similar movements in the preceding month, were: —Higher prices: Mutton. 5 per cent; lead, 3 per cent; dried fruits, 2 per cent. Lower prices: Wheat. 6 per cent; wool, beef and lamb, 3 per cent; and zinc, 1 per cent. The Commonwealth statistician, Dr. Holnnd Wilson, issuing the figures, stated that the export price index number was lower now than it had been since 1931.

QUOTATIONS FOR WHEAT LONDON AND LIVERPOOL FUTURES IN CHICAGO LONDON. May 1 Wheat.—Cargoes are unchanged. Parcels are lirnior. Futures. —London: Mav. -'.'is n (pmiter; July, 2.1s sJ<l. Liverpool: Old contract, May, 4s 5Jd a cental; new contract. May, 4s 3d; .July, 4s 5Jd; October, 4s 7ld. CHICAGO, May 1 Wheat. —May. 75 cents a bushel; July, 73 cents'; September, 73} cents. BRADFORD MARKET DEMAND FOR CROSSBREDS LARGE GOVERNMENT ORDERS LONDON, May 1 (In the Bradford market a large amount of new business was done today in cross-bred tops and,yarns owing to the Government's requirements, and quotations were higher. Merinos were quiet, but tinner.

HIDES AND SKINS

HIGHER VALUES RULING

A Rood offprint: of hides ami skins mot Willi keen competition at the fortnightly iiiielion held hy Aiickliind brokers yesterday. Prices for hides were slightly better, with the exception of extra heavy ox. Dried skins advanced by fully '/id per lb. Trices for best grades were:— Hides. —Ox (abattoirs*, heavy. 6%d to M; medium, .">"!«d to li'id; light, .">%d; ox (country butchers), heavy,' .V-id to (id; medium. ,y;d to ,V/jd; light, .".'/id; cow (abattoirs), heavy, .V' a d; light lo medium. .V,, o row (country butchers), heavy, f> ,d; light to medium, .V!id; farmers (all weights). V/A to r„d; yearlings (abattoirs), heavy, .» «d to (fill; light to medium, Td; second grade. .v,d !o (id: faulty and cut. JV id to .>. 4 d; calfskins, :slb to .Mb, O'iri: (ilb to Mb s'jd to !»d; seconds and cut, 7 J id; faulty, '_n to (> Salted Sheepskins.—Half to three-quarter-wool. Ms Oil to Is '_> d each; half-wool, large. 2 s !»d to ;$s 2d; medium. Is Od to 2s Id: bare to quarter-wool. Od to Is Rd. , „ Dry Sheepskins.—Three-quarters to fullwool,'medium to fine crossbred. 8d: damaged and faultv, .V'd to 7'id: half-wool, medium to fine crossbred, (t v jd lo 7 3 itl; damaged and fault v tT.d to (ill; hare to quarter-wool sound, 5d to (i'/ad: damaged and faulty. 2 ,d '"•Pa'liow.—Good quality, lis to lis fid per cwt; second grade. Os to 10s; third. 7s to Bs.

DECLINE AT DUNEDIN SALE [nv TKI.KC.n.\I'M OWN'COHHKSI'O.VOKN'I'] DUNEDIN. Tuesday

The Dunedin Woolbrokers' Association reports that (here was a medium offering at the sheepskin sale to-day. Competition was fair, and prices all round showed a decrease of from >/.d to :, 4 d i>er lb, halfhred skins showing the greatest decline. A good clearance was, however. effected. The official rangi\ of values was as follows: —Half bred: Full wools, to 8d: threequarter wools. 7'jd lo 7* -d; half wools, (id to (i'id; quurter wools. I 3 i(l to od. Fine crossbred: Full wools. 7* id to 7\d; threequarter wools, (i'/.d to 7 l d; half wools, (i'-id to 7(1: quarter wools, ">d to >Vid. Crossbred: Full wools to 7 :1 4 d; threeqnarter wools, (i'id to 7'jd: half wools, (i'id lo .V ; d: quarter wools. Ad to ,V/,d. Hoggets: Halfhred, 7d to 7Vid: fine crossbred, to 7d; crossbred, (i I ,d to 7d. Dead: Halfhred. to (VLd: fine crossbred, to Pr.r]; crossbred, to od. Felts: First, a'.d to 4V,d; Ffcond. to 3Hd. Lambs.- Halfhred, fid to 6l 4 di fine crossbred, 6d to QVtd; crossbred. 6d to 7d.