BUTTER UP.

Taranaki Daily News, 27 September 1924, Page 6

BUTTER UP.

LONDON PRICE 220/-. MARKET REPORTED FIRM. CHEESE IMPROVES SLIGHTLY. A further rise in the price of butter has taken plane on the London market, a private cablegram received in New Plymouth yesterday stating that the New Zealand salted had advanced to 220 s and unsalted to 2305. The market was reported to be firm. The cheese quotations were 94s for New Zealand coloured and white on a firmer market. week the report was:— “Best qualities of butter arc very firm, and other sorts are slow. The price of Danish has been raised to 224 - It is reported that the Germans bought twelve thousand casks of Danish butter this week. New Zealand choicest salted is quoted at 208 s to 210 s, and exceptionally good 2125. The unsalted is cleared. Australian salted is selling at 198 s to 200 s, and a few unsalted at 208 s. Siberian best is worth 164 s to 1765. “The cheese market is dull. New Zealand white is quoted at 92s to 935. and coloured at 90s to 925. Australian coloured is selling at 88s.” The latest quotations are equivalent to approximately Is 9d per lb. f.0.-b. New Zealand ports for salted butter and Is lOd for unsalted, the butter-fat prices being approximately Is 9.78 d and Is 10.96 d per lb. respectively. The cheese quotations are equivalent to approximately 8.38 d f.o.b. New Zealand ports, for both white and coloured, the butter-fat prices being Is 5.53 d for Jan-uary-February make and Is 4,69 d for March, April, May make. “It is a wonderfully healthy position considering that the Canadian-Septem-ber make of cheese must bp known, and that the European butter producing season* must be getting pretty well through,” was the comment made by an expert to a Daily News reporter yesterday when discussing the market. The outlook certainly appeared cheerful. he added.

It was about this time last year when the butter market was up at a high figure. The market advanced in September last year to 2025, and then receded until it reached 188 s on November 2. when it took another turn, going up to 200 s again. The market remained at 200 s and over until April 8, after which it started to decTin.-. the lowest point being reached towards the end of April of this year, when the quo tation was reported to be 1525. From then on the market fluctuated considerably, but always with a rising tendency. With quotations at 124 s for white and coloured, the market for New Zealand cheese was higher in London at this time last year than it is now. From the end of September, however, the quotations steadily receded until March and April, when S4s was reported to be the ruling price. The lowest point was reached late in May with 82s. but from then on there has been a steady advance, the highest price (98s) being reached at the beginning of August.