SLIGHT ADVANCE REPORTED

Taranaki Daily News, 11 August 1932, Page 16

SLIGHT ADVANCE REPORTED

LONDON DAIRY PRODUCE PRICES. Doth cheese and butter prices have risen slightly since last week-end according to advices received from London yesterday. Butter is firm at 106 s to 107 s, the Anglo-Continental Produce Co. reports. The cheese market is steady, white being quoted at 58s and coloured at from 56s to 575. The quotations reflect a rise of about one shilling all round. The following report on the markets has been received by the same firm through the mail: “Since our last report the butter market has been steady, and now, at the beginning of July prices are improving, but how far they improve will greatly depend on the quantity of butter reecived from Europe. The make in Denmark reached 77,000 casks at the peak; the make now is 70,000, and we expect a further reduction next week of about 4000 casks. So that, with a smaller quantity from Denmark, it should improve the position for New Zealand and Australian. “A London newspaper quotes its Moscow correspondent, stating that Russia will ship only one-half the quantity it did last year, and it is retaining more butter and milk for the peasants than hitherto. There may be some truth in this, as we do not think any of the British margarine manufacturers will send margarine to Russia this year, which was used last year in order to supply bigger quantities of butter to England and Germany. “The imports from Esthonia, Latvia and Lithuania are much higher than last year’s as Germany, owing to financial restrictions, cannot take the usual quantity. Should the Lausanne Conference end favourably, there will be a greater freedom of money in Germany, and Germany will then be able to take a fair amount of the European butter, which would help to raise the prices here to the benefit of the Dominions.

“The cheese market has also improved, but this improvement has been greatly brought about by the exchange between England and Canada, which might filter the value of cheese at any time.”