DAIRY PRODUCE PRICES

Taranaki Daily News, 31 January 1931, Page 6

DAIRY PRODUCE PRICES

BUTTER MARKET CLOSES STEADY.

CHEESE SELLING RATHER SLOWLY.

After receding 2s to 3s on last week’s prices the butter markets appear to have closed steady, according to latest advice, cheese is quoted at 52s to 53s on a rather slow market.

“The butter market is steady with more inquiry for Danish,” states a cable received by Turner and Co. from Lonsdales, dated Thursday. Danish is quoted at 140 s (129 s last week), New Zealand at 112 s to 114 s (114 s to 116 s) and Australian at 108 s to 110 s (108 s to Ills). The cheese market is dull with prices in favour of buyers, continues the cable, which quotes 53s to 54s (55s to 565). “The butter market is steady,” states a cable received yesterday by Mr. E. Griffiths from A. J. Mills and Co. Ltd. Butter quotations are given as follow, with those for last week in parenthesis: New Zealand finest, 113 s to 114 s (115 s to 116 s); first, Ills to 112 s (114 s to 115 s); New Zealand finest unsalted, 116 s to 118 s (118 s to 120 s); Danish, 130 s to 132 s (130 s to 1325); Australian, 106 s to 110 s (106 s to 112 s). The cheese market is dull, continues the report, which gives the following prices: New Zealand white, 5s to 54s (54s to 565); New Zealand coloured, 53s to 54s (54s to 565); Canadian white, 74s to 76s (74s to 765); Canadian coloured, 74s to 70s (74s io 70s). ‘ “The market for butter is firm at 113 s (116 s last week) with a better demand,” states a cablegram from Trengrouse and Nathan Ltd. received yesterday by Joseph Nathan and Company Ltd. Cheese is rather slow at 52s (555). “The butter market has receded 3s per cwt. since, our last report but now closes firm again at the prices stated and should remain steady,” states a cable* gram received yesterday by Newton King Ltd. from R. and W. Davidson Ltd., giving an indication of prices ruling ,on Thursday. Salted butter is quoted at Ills to 114 s (114 s to 116 s). The cheese market is very quiet and has dropped 2s per cwt. since last week, continues the report, which quotes white and coloured at 53s to 54s (55s to 565). “The market for New Zealand choicest' salted butter is firm,” states advice received by the New Zealand Loan and Mercantile Agency Co. Ltd. dated Wednesday. Butter is quoted at 112 s to. 114 s per cwt, (115 s to 116 s last week). Cheese is slow at 53s to 55s (55s to 565). REVIEW OF BUTTER MARKET. AMALGAMATED DAIRIES LTD. A considerably better market for New Zealand butter in London for the period from December 13, 1930, to January 10, 1931, is recorded in the monthly report of Amalgamated Dairies, Limited, to the suppliers of the New Zealand Co-opera-tive Dairy Company. The price improved from 114 s to 122 s during the month. The report states that the average weekly volume of sales had been rather less, but well above the same period of last year. As the result of repeated requests made by a large number of cooperative companies throughout the Dominion, the London Importers’ Association had recently decided to set up an advisory committee. This committee would consist of four members of the trade and Mr. J. B. Wright (Amalgamated Dairies, Limited) and Mr;.Davies (London manager of the New Zealand Dairy Produce Board). If the pommittee did nothing more than check the operations of the “quick quitters” and the “short sellers” it would amply justify its existence. The retail price of New Zealand butter was raised on January 3 to Is 3d. The previous price of Is 2d greatly stimulated the demand at the expense of the margarine trade. ■ Considerable headway had recently been made in breaking into new territory, as the following extract from a recent letter from Mr. J. B. Wright indicates: “The very low prices for New Zealand butter have had an enormous effect in introducing New Zealand butter to traders and consumers in* areas which never hitherto handled our butter. The recent sales of New Zealand butter in the Danish areas have been very extensive, and far in excess of any previous period.” The report states that the company s. Eastern Canadian representatives had cabled that production was up. 40 per cent, on last year, while in British Columbia preference was being given to local butter at 311 cents. The prospects of substantial business this season with Canada were steadily diminishing, especially as the Australian exchange gave that country a great advantage. Offers for January-February-March shipments of butter advanced with the improvement in the London spot market, the top price paid being 12 l-16d for a small parcel of butter. The London cheese market had been devoid of anv activity during the past few weeks. The price, after holding at 66s for white, dropped to 58s last week. Stocks of New Zealand and Canadian in England on January 1 were just on 4000 tons more than on the same date of the previous year, while shipments afloat and stocks in New Zealand were rather less this year;