FIRM BUTTER MARKET

Poverty Bay Herald, Volume LXII, Issue 18598, 8 January 1935, Page 2

FIRM BUTTER MARKET

ANOTHER UPWARD MOVE 4/- GAIN IN TWO DAYS REDUCTION IN STOCKS The market for New Zealand butter has taken another turn for the better, and when business opened this week a jump of 4s per cwt. took place in London, the market closing yesterday with the best price at 80s. Cheese remains steady at; quotations made available at the cud of last week. This advance in butter followed a slight weakening after a sudden upward move of 7s per cwt, and has occurred at a time 'when stocks of New Zealand butter are at the lowest point for several months. On January 4, the Dairy Board reported that 4!)ou tons of New Zealand butter remained in store, a reduction of 1258 tons within a week. Deliveries during the week were heavy, totalling 2588 tons, or 1082’ tons mor.e than the previous week. For the corresponding week last year, 2700 tons were delivered and 2721 tons remained in store, quotations then being 05s to 675. Australian deliveries during lust week totalled 1800 tons, leaving 3450 tons in store.

’Messrs. Joseph Nathan and Company report to-day as follows:—“'Butter: The market is active at 77s to 70s, and closed firm yesterday at 80s. Cheese: White, 46s to 46s 6d; colored, 46s Gd to 475; the market is steady.” The Dairy Board reported from Loudon on January 4 that the market was steady for butter and quiet for cheese. The following butter quotations were given:—New Zealand, ,salted 76s to 77s (equals .approximately 5.77 d per lb., f.0.b.), unsalted 77s to 78s; Australian,'salted 75s to 765, unsalted 775; Panish, Q;Bs f.0.b., T2os spot. Retail prices remained unaltered at Is 2d to Is 3d for Danish and Od to |od for New Zealand. The increase to 80s in the market price for New Zealand butter brings the quotation to 10s -per cwt. better than it was just before Christmas.