BUTTER PRICES HIGHER

Waipa Post, Volume 42, Issue 3304, 2 June 1931, Page 8

BUTTER PRICES HIGHER

BRIGHTER TONE OF LONDON MARKET. ADVANCE IN CHEESE RATES. (By Telegraph. Press Association). WELLINGTON, this day. f More cheerful news has been reaching New Zealand during the past :ji- week in respect to the prices ruling ic in London for the Dominion’s dairy produce. Latest cablegrams stated that salted butter from New Zealand .- is now selling at 116 s per cwt., com'.;f pared with 112 s a week ago. Unsalted is bringing from 114 s to 118 s. A week ago the price for unsalted was 112 sto 114 s. Advice received by the Dairy Produce Board from its Lon- • V don office states that the market is firm, although less active at the end V of the week. The cheese market is also firm at up to 59s compared with 55s seven ,daiys previ- ■ ously. White cheese vaK||3;>Tange v .from 53s to 555, as againstrSus-to 52s

the preceding week. ' ;■ * A further advance in the butter t . market during the next week or so “* predicted by a leading Wellington Ijrter on Saturday. The stock porn of butter at Home at present is /■ favourable. The Empire Marng Board’s estimate of the stocks butter at May 16 was 485,000 es, as compared with 905,000 boxes the same date last year. One ;he causes of the improvement has nvthe fact that the Continental duction this season has been lower n expected, because of cold weathExports to the United Kingdom m this source have consequently j n jbelow normal. . ~. , . lo<great apprehension is felt about danger of Russian competition afting the prices for the Dominion m product this year, and shipments from that country to Great Britain IShave not yet been excessive. The Rfuture possibilities, however, are be(yr: ing watched. The increased producIgpimxvin the Ukraine, as a result of steady improvement m the dairy .'h herds'/there, has not yet been felt, export to Great Britain quantibutter equivalent to its prewar it will develop into a i competitor with the Dominion. Zealand butter reaching Great ■ Britain'during the past week amountI tons as against 1005 tons <?6rresponding week of last Excluding 350 tons from the plaSiaiiitii, but including 250 tons from ■i'ltarT’ort Napier and 262 tons off the V:\Jltatakana, the quantity in store is %?5900 tons. Twelve months ago there : >-were 10,816 tons in store Australw£§an deliveries amounted to lbß/ tons 'Myfas compared with 1100 tons a year % %o, and the quantity of Australian |Sin store totals 2525 tons as against • 4000 tons in 1930. ' V- The cheese market is firm and le•tail prices are unchanged. ihe v week’s deliveries of New 'Zealand « cheese amounted to 22,000 crates as against 20,199 crates for the corresponding week of last year The in store Is 198,000 crates,:a . year ago it was 110,161 crates. Canadian deliveries totalled 2832 boxes as compared with 1750 boxes for 1930. The amount of Canadian now in stole is 129,246 boxes, as against 9b,UUt -V' boxes twelve months ago. * On Saturday week the Kemuera sailed from New Zealand with 34,563 ■ boxes of salted butter 1134 boxes of 1 unsalted, 590 boxes of whey, H,39U * crates of white cheese, and 6766 crates of coloured cheese. The Devon, which sailed on Thursday, took 800 boxes of butter for Avonmouth. Since last Thursday week the Tamui, the Matakana and the Port Napier commenced and completed the discharge of both their butter and cheese shipments, The Tekoa completed unloading her butter cargo, and the Cornwall and Port Brisbane completed the discharge of their cheese shipments.