ADVANCE IN BUTTER

New Zealand Herald, Volume LXXVI, Issue 23381, 24 June 1939, Page 11

ADVANCE IN BUTTER

NEW ZEALAND UP .TO 11!)S RISE OF 3/- OVER THE WEEK SUBSTANTIAL GAIN IN CHEESE Prices for New Zealand biitter in London have recovered sharply, and the latest quotation of 118s to 119s per cwt. shows an advance of 3s over tlni past week.. This is the highest valwi reached since February, but it is still about 6s per cwt. below the London equivalent of the guaranteed price. A Press Association message sent from London on Thursday states that the market is quiet. Salted Australian butter ranges from 113s to 114s per cwt., a rise of 2s over the past week. 'Danish is also 2s higher at 123s per cwt. In unsalted butters New Zealand is selling at 119s, with Australian front 114s to 115s per cwt. The market for cheese also is quiet,, but prices have again advanced substantially. "New Zealand, white is quoted at 64s per cwt., or 3s 6d higher thau. last week. Coloured at 66s per cwt. shows a gain of 5s over the weekPrices for Xew Zealand cheese hava risen by about 15s per cwt over the past month. Australian white is selling .'it 61s and coloured at 625, values being nominal. Recent quotations and those of a year as follows: — June 23 June 16 May 26 June 24. Butter— 1039 1030 New Zealand 118/6 113/6 109/- 124Auntralian " 113/6 111/6 107/- 122/. Danish .. 123/- 121/-. 11$/- 123/6 - N\Z.! " White . . 64/- 60/6 .50/- 69/Coloured 66/- 61/- 50/- 69/Aiistralian: _, White .. 61.'- 57/- 48/- 6./3 Coloured 62/- • 3S/• 4&/• 65/6 The present price of 118s 6d is equal to approximately 14.16 d per lb., f.0.b., Xew Zealand ports, compared with the guaranteed price of 14.59 d per lb., f.o.b. The London equivalent of. the guaranteed price is 124s 3d per cwt. The equivalent price of cheese is about 7.35 d per lb., f.0.b., compared with the guaranteed price of 5.42 d. A. S. Paterson and Company, Limi-' ted, quote—Butter. The market is iirm. New 1 Zealand. 119s per cwt.; Australian. 114s; Danish, 1245. Cheese: The market is firm. • White, ,655; coloured, 675..