DAIRY PRODUCE

Wanganui Chronicle, Volume LXXXII, Issue 19368, 27 July 1925, Page 8

DAIRY PRODUCE

LATEST LONDON PRICES QUOTATIONS STILL UP CONFIDENCE IN FUTUKE : A further rise in the quotations for ■New Zealand dniry produce, which was 'recorded early last week, has been ■ 'maintained according to private- cable , advices dated London, Thursday. New | Zealand salted butter is being quoted ! at 196 s and unsalted at 200 s on a quiet , ; market. The cheese quotations, also i 'on a quiet market, arc J 10s for white i 'and 109 s for coloured. Sales at up to 9-ld per lb, f.o.b. for i cheese outputs up to December have i been reported, but latest information indicates that the speculative demand | has been satisfied and that buying is • casing off. The position is quieter in • Avery way. but this does not indicate ' that the future of cheese is not sound, j On the. contrary, regular traders htave , a good deal of confidence in the future : uf the cheese market. ' There is not so much movement in . ■butter as in cheese, the overlying i stocks in London having a steadying ■ (effect. It is undoubted tlmt the dry i spell in the Northern Hemisphere, the ! ilongost for many years, has had a i • marked effect and it looks like a perimanent effect, for it may not be pos- ' 'si bio. now to pick up the shortage ! crotated by the unexpected hot weather, i •There are reports of sales of butter | at Is 7hl up to the end of October. ! but it is too early to do much in tin? butter market. While it is not wise to be too optimistic, the indications point to the (prices for New Zealand produce for the next season, at least for the first plart 'of it, being very good. I The cable report from London the ■ previous week was:—“The butter mar- i , ket is more active. There is a good ; •demand for New Zealand at 190 s. with I iunshlted at 194 s to 1965. Australian . is quoted at 186 s and occasionally at . iISSs. with ur> ; ’!ted at 1965. Danish 'is 1965, and Argentine 182 s tn 186 s. iThe cheese market is firm. White and coloured lare selling at 110s.’’ The latest quotations are equivalent to approximately Is 6Ad per lb f.o.b. for salted butter and Is 7d for unsalted, the butter fat payments being lapproximately Is 8.14 d per lb. to suppliers nf collected home separated cream and Is 7.15 d to whole milk suppliers whose output was made into salted butter, , and Is 8.74 d and Is 7.73 d per lb. respectively to suppliers whose output was made into unsalted butter. For cheese the quotation is equivalent to approximately 9.93 d per lb. f.0.b., the butterfat payment being Is 11. lad for September, October and November make, and Is 10.36 d for December make.