SENSITIVE MARKETS

Wanganui Chronicle, Volume 76, Issue 115, 18 May 1933, Page 9

SENSITIVE MARKETS

BUTTER AND CHEESE LATEST LONDON ADVICES. A private cablegram received yesterday and dated London, May 15, read: “Both markets butter and cheese opened firm on Monday morning, but great uncertainty Monday afternoon; also other commodities.” This was taken by the recipients to mean that some change had taken place in buyers’ views of the butter and vheese markets after mid-day, and that not only the dairy produce markets were affected by altered circumstances, presumably uneasiness in regard to the political situation on the Continent; and that buyers of dairy produce as of other commodities were loath to make commitments. At the same time forward business in New Zealand was reported yesterday at 9 5-8 d to 9|d per lb. for butter, and 5 3-8 d to ssd per lb. for ichecse for the balance of the season’s make and for lines unshipped. Other London cablegrams received yesterday indicated 81s per cwt. for butter and 50s per cwt. for white cheese and 55s for coloured, showing conflden'ce in the markets. Cablegrams from London received by the New Zealand Porducers’ Co-operative Marketing Association read: “Both markets quiet. New Zealand butter 79s to 80s per cwt.; Danish, 945. New Zealand white cheese 48s to 49s per cwt., and coloured 54s to 555.” Other cabled advices indi'eated that business in«the London butter market yesterday was quiet and prices showed a slight downward tendency. Business in cheese was reported as slow. Prices were as above quoted. Course of the Market. The course of the market for New Zealand butter and cheese during the current season may be traced in the changes made by British importing firms in advances made to exporting dairy companies, as follows: —

It is expected that up to now all factories, will show deficiencies and that reclamations will be made, but it will require all May arrivals to realise not less than current rates if the factories arc to break even.

Butter, d. per lb. Cheese. d. per lb September .. .. 10 5 October 1 .. . . 9J 5 November I .. 8} 5 December 1 .. 7| 5 January 1 . .. 75 3i January 24 8 45 March 1 .. . .. 7i 3J April 1 .. .. 6 3 May 1 . . .. 0 3 May 15 .. . .. 7 3i