FINANCE AND COMMERCE

Taranaki Daily News, 17 March 1931, Page 12

FINANCE AND COMMERCE

STEADY MARKET FOR BUTTER.

LITTLE CHANGE IN CHEESE.

Following a weakness early in the week, the London butter market closed steady on Friday with an improving demand at 118 s. to 1205., a decline of 2s. on the week. Conditions in the cheese market were much the same as for butter. Full cream cheese still commands a premium of Is. per cwt. on “standardised.” The market closed at 555. to 595., or one shilling down on the week. The retail price of butter is unchanged at Is. sd. for Danish and 1$ 3d. per lb. for New Zealand; that for New Zealand cheese standing at 9d. Current prices, with those for the previous week in parentheses, are reported by the Dairy Board’s London office as follows: — BUTTER. New. Zealand, salted, 118 s. to 120 s. (120 s. to 1225.; March 14, 1930, 1395. to 1425.); unsalted, 1245. to 128 s. (1245. to 128 s.); March 14, 1930, 148 s. to 1545.); first'whev, 114 s. (116 s. second whey, 112 s. (114 s . ; Australian, salted, 117 s. to 119 s. (not quoted)'; unsalted, 1225. to 1245. (not quoted). Argentine, unsalted, 118 s. to 1225., ex. 1245. (120 s. to 1225.). Danish, 1335., f.0.b.; 140 s. to 1425. spot (1325.; 140 s. to 1425,); Dutch, unsalted, 1365. to 138 s. (1365. to 1385.). CHEESE. New Zealand,'white, 55s to 57s (56s to 575.; March 14, 1930, 83s. to 845.); coloured, 575. to 595. (585..t0 605.; March 14, 1930, 85s. to 865.). Canadian, white and coloured, 745. to 78s. (745. to 765.; coloured, 745. 785.). English finest farmers, 100 s. to 106 s. (100 s. to 1065.). DELIVERIES AND STOCKS. |

The Empire Marketing Board’s estimate of stocks of all butters as at March 7 was 266,695 boxes, which compares with previous dates as follows:—

August 22 1,002,346 September 6 967,44® September 20 837,614 October 4 828,854 October 18 743,389 November 1 , 613,645 November 15 438,361 December 1 ...i 320,380 December 15 276,010 December 27 252,141 January 10 >. ....235,114 January 24 t . 301,312 February 7 i 280,514 February 21 300,618 March 7, .... 266,695

Deliveries of New Zealand butter for the week were 2350 tons as against 1500 tons a year ago. The quantity in store, including 275 tons ex Rangitiki and 150 tons ex Port Fairy, is 5050 tons, as compared with 6650 tons a year ago.

Deliveries of Australian butter were 1062 tons, as compared with 1287 tons, and the quantity in store 750 tons, as against 2450 tons a year ago. Deliveries of New Zealand cheese last week were 19,000 crates, as against 29,500 crates a year ago. The quantity in store is 140,000 crates, as compared with 90,380 crates a year ago..

Deliveries of Canadian cheese last week were 2005 boxes as against 3600 boxes, the quantity in store being 103,000 boxes, as compared with 126,194 boxes a year ago.

LAMB MARKET MORE ACTIVE.

‘ DEMAND FIRMER FOR MUTTON. Lamb market: More active. Mutton: No change in prices for wethers,but market is firmer. Ewes: Prices slightly better owing to lower stocks. New Zealand beef: Market is dull with more

trade. New Zealand porker pigs: -'etter demand for light weights, but trade slow for heavy weights. New Zealand baconer pigs: ’There is practically no demand owing to over supplies of Continental bacon.

The above report was received on Saturday by the New Zealand Meat Producers’ Board from its London office, which advises that the following are the approximate average prices realised for the week ended March 13, based on actual transactions of wholesale quantities of the descriptions of meat mentioned, and are for representative parcels of the goods offering during the week, being for business done on the basis of delivered to Smithfield market and/or ex London stores. Prices for the two previous weeks are nlso shown: New Zealand Sheep.—Canterbury and North Island selected crossbred wethers and maiden /wes, 48 to 561 b.. 3 7-Bd. (3 7-Bd., 3 7-8 d.); 57 to 641 b., 33 d. (3|d., 3fd.); 65 to 721 b., 33d. (3Jd., 3fd.); North Island crossbred wethers and maiden ewes, 48 to 561 b.- 3 s<Bd. (3 5-Bd., 3fd.); 57 to 641 b., 3|d. (3Ad., 3Jd.); 65 to 721 b., 3 3-Bd. (3 3-Bd., 3 3-8 d.); ewes, 481 b. and under, 2 5-Bd. (2Jd., 23-8 d.); 47 to 641 b., 2Jd. (2 3-Bd., 2Jd.); 65 to 721 b., 2id. (2id., 2 l-Bd.). New Zealand Lamb.—Canterbury, 36 lb. and under, 6Ad. (6fd., 7d.); 37 to 42 lb., 64d. (6fd., 7d.); 43 to 501 b., 6jd. (6 5-Bd., 7d.); second quality, average 331 b., s|d. (sjd., 6d.); other South Island brands, not quoted. Selected North Island brands, including Downs, 361 b. and under, 6 5-Bd. (6 5-Bd., 7d.); 37 to 421 b., 6|d. (6 5-Bd., 7d.); 43 to 501 b., 6Jd. (6 5-Bd., .7d.); second quality, average 31 lb., 54d. (5Jd., 5Jd.); other North Island brands, first quality, 361 b. and under, 6d. (6d., 6 3-Sd.); 37 to 421 b., 6d. (6d„ 6 3-8 d.); second quality, average 311 b., 5 l-Bd. (5 l-Bd., aid.). Australian Lambs.—Victorian, first I

quality, 361 b. and under, sd. (same); 37 to 421 b., sd. (same). Argentine Lamb. —First quality; 361 b. and under, sd. (same); 37 to 421 b., 4fd. (same). New Zealand Beef.-—Not quoted. Argentine Chilled Beef.—Ox fores, 3Jd. (3|d., 3 3-8 d.); ox hinds, 5 5-Bd. (5Jd., sid.)„ Australian Frozen Beef. —Ox crops, over 1001 b., 2 5-Bd. (2Jd., 2Jd.); ox hinds, over 1601b.,-3Jd. (3jd., 3fd.). New Zealand Prime Porker Pigs.—6o to 1001 b., s£d. (same); 101 to 1201 b., 4£d. (same). . New Zealand Prime Baconer Pigs.—l2l to 1801 b., sd. (same).

New Zealand Frozen Veal.—Not quot ed.

OIL SEARCH AT MQTUROA.

Moturoa Oil Fields, Ltd.,’s No. 2 well is drilled to 634 feet, the company reports. Grey shale was encountered for 600 feet, and then .34 feet of running sand. / , •'