A RISING MARKET

Wanganui Chronicle, Volume LXXXIII, Issue 19914, 9 August 1927, Page 8

A RISING MARKET

BUTTER IN LONDON New Zealand Prices Improving Steadily. CHEESE MARKET STEADY [Per T*ress Association.] WELLINGTON, Aug. 8. Butter prices in London show an increase of from 6s to Bs, according to. market advices received by the New Zealand Dairy Produce Board from its London agency to-day. A good demand for New Zealand butterg is reported and is expected to continue for best butter this week. Continental imports are declining. With the increased idjemand from Germany, the. retail price of butter was to advance to Is 8d yesterday. Cheese prices are as follows: New Zealand coloured 92s to a 93s, white 92s to 93s up to 945. The market is steady but quiet. Stocks of cheese in public stores in Great Britain on August 1 were estimated to be 95,250 crates, against 44,900 crates last year, while Canadian Cheese in store totalled 63,100 boxes, compared with 149,300 last year. Butter in store outside London is reported to have been negligible. In London, however, there was a total of 17,350 tons of butter in store, compared with 20,000 tons last year. Of this the New Zealand total was 9,375 tons, while last year it was 15,000 tons. Some idea of the falling off in imports of butter and cheese from sources outside Europe is gained by the fact that Canadian export figures from May 1, which marked the beginning of the season, to June 18, were: Butter 1,362 packages, cheese 69,156 boxes. For the same period last year they were butter 12,627 packages, cheese 163,203 boxes. Arrivals at London last week were the Rotorua and the Arawa. There is still a considerable quantity of New Zealand butter which has not been disposerl of by the Dairy Produce Board and its realisation on a rising market, it is anticipated, will swell the average payments on the second dairy pool, of which up to July 2, 1,300,290 boxes had been sold at an average of 158 - It is reported that there remained to be sold on that date 275,630 boxes. The remaining stocks in the cheese pool will improve the average of 82s 7id per cwt., realised for the first 718,146 crates of the total of 966,146 crates in the pool.