BUTTER PRICES

Te Awamutu Courier, Volume 53, Issue 3799, 24 August 1936, Page 5

BUTTER PRICES

A FIRM AND RISING MARKET. In its latest review of the dairy produce market, the well known Wellington firm ot A. H. Turnbull and Co., Ltd., state that it is estimated 1’2,499 tons of New Zealand butter and 16,327 tons of cheese will reach the Home stores before the end of October. For August, September and October of 1935 the actual arrivals were 29,141 tons of butter and 15,542 tons of cheese, and for the corresponding period of 1934 the total was 20,536 tons of butter and 16,681 tons of cheese. Butter: Since the first week in July the market has made a steady advance, with the exception of a slight pause in the first week in August. Our latest cables from Messrs W. Weddel and Co., Ltd., give the market as 121 s firm. Our principals also advise that the steady advance was caused chiefly by the strong stock position on spot and the further recent rise in prices by the United States buying considerable quantities of Continental butter. Consumption continues on a satisfactory level. Although arrivals from New Zealand during September will be some 4000 tons heavier than last year, our principals are of the opinion that we will still see a firm market, but much will depend whether the U.S.A, continues to be a heavy buyer of Continental butters. Forward buyers have been active, but there has been very little New Zealand butter available for sale during the past few weeks. As high as Is 2Jd f.o.b. has been paid for end of season’s butter for shipment in August. Cheese: The advance in cheese has been even more satisfactory than the advance in butter, and prices since early July have risen from 59s 6d to 70s for white cheese. Stocks in the United Kingdom are light and the market has been considerably strengthened by reports of the U.S.A, buying heavier quantities of Canadian cheese than usual. There has been quite a fair forward enquiry for cheese not yet shipped, up to as high as 7Jd per lb f.o.b. Stocks for sale are small, so that not very much business has resulted at these prices. Messrs W. Weddel and Co, Ltd., cable us that they anticipate a firm market for cheese during the next month.