DAIRY PRODUCE

Wairarapa Times-Age, 1 August 1939, Page 3

DAIRY PRODUCE

LONDON QUOTATIONS BUTTER MARKET FIRM. CHEESE PRICES DECLINE. The price of New Zealand butter in London on Friday stood at 120 s a cwt., compared with 122 to 124 s for the preceding week. According to the cabled report supplied by the Primary Products Marketing Department to the Dairy Board, the market was firm at the close after active buying in the middle of the week at lower prices. . ' Friday’s closing quotations, with those of the preceding week in parentheses. were as follow: — New Zealand, salted, 120 s (122 s to 1245; a year ago. 121 s); unsalted, 120 s (1235; a year ago. 1225). Australian, salted, 110 s to Ills (112 s to 114 s); unsalted, 110 s (112 s to 113 s). Danish, 106 s f.0.b.; 127 s to 128 s spot (108 s 129 s to 130 s). Dutch, salted and unsalted, 106 s to 108 s (108 s

Irish, cream, salted, 120 s (121 s Lithuanian, unsalted, 108 s to 110 s (112 s Market quiet. Polish, salted' and unsalted, 104 s to 106 s (106 s to 108 s). Market steady. South African, 106 s. Market slow.

Retail prices were unchanged, New Zealand at Is 3d, and Danish at Is 4d a lb.

Deliveries of New Zealand butter from store last week were 1120 tons, as against 1083 tons for the previous week. The quantity in store was 4374 tons, as against 5486 tons a week earlier, and 6440 tons a year ago. Deliveries of Australian butter last week were 1189 tons, as against 1346 tons for the preceding week. The quantity in store was 7719 tons, compared with 5936 tons a week earlier, and 4119 tons a year ago. After exceeding the London equivalent of the guaranteed price of 124 s 3d about a fortnight ago, the price of New Zealand butter has again fallen below the guarantee. Prices are now slightly lower than those at the same time last year. A feature of the market is still the large premium enjoyed by New Zealand butter over Australian.

The present price of 120 s is equal to approximately 14,35 d per lb, f.0.b., New Zealand ports, compared with the guaranteed price of 14,89 d per lb, f.o.b. The London equivalent of the guaranteed price is 124 s 3d per cwt. The equivalent price of cheese is about 6.83 d per lb f.0.b., compared with the guaranteed price of 8.42 d. The cheese market was quiet last week, and prices declined further, New Zealand white being 3s down at 635, and coloured 3s lower at 625. Friday’s closing quotations, with those of the previous week in parentheses, were as follow: —

New Zealand, white, 60s (635; a year ago, 68s 6d); coloured, 62s (655; a year ago. 68s 6d to 695).

Australian, white, 56s to 58s (59s to 625); coloured, 58s to 60s (61s to 635). Canadian, white and coloured, 62s to 63s ( —); c.i.f., 60s to 61s (59s to 60s); old season’s, white and coloured, 73s to 76s (74s to 755).

English, finest farmers', 78s to 84s; factory cheese, 56s to 645. The retail price of New Zealand cheese was unchanged at 8d a lb.

Deliveries of New Zealand cheese from store last week were 11,045 crates as against 13,121 crates a week earlier. The quantity in store was 76,764 crates, compared with 81,670 crates a year ago.

Deliveries of Canadian cheese last week were 5482 boxes, as against 4771 boxes for the preceding week. The quantity in store was 99,924 boxes, compared with 77,462 boxes a year ago. Gradings of New Zealand cheese for the week ended July 22 were 314 crates of white, and 132 crates of coloured, a total of 466 crates.