BUTTER AND CHEESE RECEDE

Taranaki Daily News, 17 October 1931, Page 12

BUTTER AND CHEESE RECEDE

LAST QUOTATIONS FROM LONDON. MARKETS DESCRIBED AS DULL. Butter quotations:— Yesterday: 114 s io 119 s; dull. Last Friday: 120 s to 1225; quiet. Cheese quotations:--Yesterday: White, to 675; coloured, 675; dull. Last'Friday: White, 69s to 70s; coloured, 70s to 71s; quiet. The latest cables from London indicate a drop of about 6s tor first and 3s for finest grades of New Zealand butter, compared with the quotations last week. White and coloured cheese averages about 67, a decrease of 2s and 3s respectively. Both markets may be described as dull. On October 16, 1930, the London prices were 114 s to 116 s for butter and 7—« s to 76s for cheese. Though production in Taranaki has generally 'been below that of the corresponding period last year, it was stated to a reporter yesterday that it was now going up fairly rapidly under the influence of the warm spring weather. The opinion was expressed that in many instances too much was dragged. out of Ihe cows lafit season in an endeavour to increase production, with the result that their vitality was lowered and they were less able to withstand the rigours of the cold wintry weather. However, with the milder conditions now prevailing an improvement could be looked for. A Press Association cable dated from London on October I'6 says: “(Butter is slow. Danish, 128 s to 130 s; choicest salted New Zealand, 118 s to 120 s; Australian, 112 s to 1.135; unsalteds are selling at about 2s premium. Cheese is inactive. New Zealand white, 68s; coloured, 695.” Joseph Nathan and Co. Ltd. have received the following report from their London principals, Messrs Trengrouse and Nathan, Ltd.: Butter, 119 s for finest and 114 s for first grade. Cheese, 675, less demand. The New Zealand Loan and Mercantile Agency Co. has received the following advice from its London house, dated" October 14:— Butter, New Zealand, Choicest salted, 120 s (last week 122 s to 1235); first grade, 115 s. Cheese, 68s to 60s per cwt (last week, 70s to 725). The market is very slow. R. and W. Davidson Ltd. (London and Glasgow) have cabled to Newton King Ltd. as follows:—The butter market is quiet but is showing some signs of improvement. It is about 2s per cwt. lower than last week. Salted is quoted at 114 s to 118 s, exceptional 120 s (last week 116s'to 1225). The cheese market is slow at prices between Is and 2s per cwt lower than last week. White and coloured are quoted at 67s to 68s ('last week 60s). From London Lonsdale’s have cabled on October 15 that the market is dull with Danish butter quoted at 130 s, New Zealand at 114 s to 118 s and Australian at 110 s to lT2s. White cheese is 66s to 67s and coloured 67s to 68s. The cable was received by Paterson's. Mr. E. Griffiths has received the following' cable from his London principals, A. J. Mills and Co.: The butter market is slow. Quotations are: New Zealand finest, ll'Ss (last week 1225); first, 114 s (118 s unsalted, 118 s (118 s to 1225); Danish, 130 s (130 s Australian, I’lOs to 112 s (115 s to 117 s). The cheese market is steady. New Zealand white, 66s to 67s (69 s to 70s); coloured, 66s to 67s 70s to 71s); Canadian white, 67s to 68s (70s); coloured, 67a to 68s (71s).