PRICES STILL RISING

Taranaki Daily News, 7 September 1935, Page 7

PRICES STILL RISING

BUTTER REACHES 104 SHILLINGS. MARKET MAINTAINS BUOYANCY. Butter continues its encouraging upward trend on the London market. Cables received yesterday show that a 4s advance has been made since mid-week. Messrs. Henry Lane and Company, Hawera, received advice from their principals that the latest quotation is 104 s for finest. This represents a rise of 8s per cwt on last week’s prices. The cheese market is also slightly more firm, 51s being quoted for both white and coloured varieties. A United Press cable stales that the butter market is firm with an upward tendency and that the cheese market is also firm. Agents generally hold the opinion that the present level is likely to hold for some time and that there is a strong prospect of the prices holding to a substantially higher level than those of last year. F. 0.8. sales of butter in North Taranaki are reported to include a shipment by the Port Bowen to load at the end of this month at a price equivalent to ll’/ 4 d. Unconfirmed reports have been received that shipments to arrive in October have been sold at ll%d. Although demand for cheese at London is fairly brisk little business is reported by Taranaki factories, one small quantity being sold at 5y 2 d. In some quarters it is held that the holding policy of the present is having an unduly depressing effect on the market because visible stocks are increased and operators are cautious. Danish butter is now quoted at 118 s to 120 s at London and choicest salted Australian is 101 s with New Zealand. Canadian white cheese is at parity with the New Zealand product at 51s. The quotations received by most agents are: Butter: New Zealand finest, 103 s (96s to 975); firsts. 101 s to 102 s (955); Danish, 116 s (o 118 s (110 s to 112 s), f.0.b., 98s; Australian, 102 s (90s). Market firm. Cheese: New Zealand white, 50s to 51s (49s 6d to 50s): coloured, 50s to 50s 6d (49s to 49s fid): Canadian white, 51s (525); coloured, 52s (545). Market firm. Advice has been received from Newton King Ltd.. Mr. E. Griffiths, New Zealand Loan and Mercantile Agency Ltd., Henry A. Lane and Company and Andrew Clement and Son.