BRIGHT BUTTER OUTLOOK

Sun (Auckland), Volume II, Issue 561, 14 January 1929, Page 11

BRIGHT BUTTER OUTLOOK

Late Commercial —

HOME MARKET REVIEWED AK EXCELLENT DEMAND (Australian and N.Z. Press Association) LONDON, Saturday. The butter outlook remains remarkably promising:, and values ought to show no reduction till the spring. There is an excellent consumptive demand and quantities afloat from New Zealand are considerably less than last year’s. Stocks in all European countries are very low, and fair quantities of Australia!# and New Zealand aro being purchased for export thither. The present retail price of colonial butter here is Is 10d a pound. Any further advance of wholesale prices would mean raising: the retail price to 23d, and possibly to 24d, and this would probably have a serious effect on the demand.

LONDON MARKETS

(Australian and X.Z. Press Association) LONDON, Saturday. Sheep.—New Zealand ewes, old; Australian ewes, 3d. Lamb*. Canterbury, seconds, Sd; other selected*, new season’s, lid: Australian, seconds, other States, Sd; thirds, lad; Argentine, firsts, medium, 8 o-Sd; seconds, 7|d. Chilled Beef.—Argentine, fores, 4?d; hinds, 6id; others, unchanged. COTTON, RUBBER, HEMP, ETC. (Last week’s prices in parentheses.) Cotton.—February delivery, 10.31 d <10.18d) a lb. Rubber.—Para, 10 7-8 d (10Sd) a lb; plantation and smoked, 9$ (S 3-8 d) a lb. •Tute. Januarv-February shipments, £32 7s 6d (£32) a ton. Hemp.—December-February shipments, £36 10s (£36 10s) a ton. Copra.—Januarv-February shipments, £23 10s (£23 10s) a ton. Linseed Oil.— £29 5s (£29) a ton. Turpentine.—4Bs 9d (48s 9d) a cwt. WH EAT Wheat.—Cargoes are inactive at 3d to W lower. Parcels are dull, with lowsrade Nlanitobas about 3d easier. River Plates are obtainable at 6d decline. Liverpool futures: March, 9s Old a cental; May, 9s ljd; July, 9s 82d. RABBITSKINS SALES At the rabbitskins sales 3,290 were ottered and 1,230 sold. There was poor competition except for best thin-pelted prime first winters, and a tew good seconds, which were slightly above November rates. Others were generally five Per cent, easier. There was fair competition for racks, which were practically cleared at 5 to "i per cent, decline. Hares were fuilv io per cent, cheaper.

DEARER BUTTER

Tletuil prices for both first and second-grade butter advanced Id a lb jn Auckland this morning. First-grade butter now’ sells over the counter at Is 10d a lb, and second grade at Is Bcl a lb. The strength of the London market 18 Siven as the reason for the increu* dairy companies repoi’t an ac ute shortage of second-grade butter, an< * the New Zealand Dairy Co-op., in Particular, in a recent circular to K? ntS ’ a dvised that it would only be J.ble to supply one-tliird of each order l or second grade. It is worth noting that New Zealand nrst-grade butter was being retailed London market last week at Is 10 d a lb.