BUTTER MARKET WEAK

Wanganui Chronicle, Volume 76, Issue 287, 5 December 1933, Page 8

BUTTER MARKET WEAK

NO IMPROVEMENT IN LONDON ■ CHEESE PRICES STEADY Extreme weakness marked the London butter market last week, values recording a substantial decline. New Zealand salted butter closed on Friday at 70s to 725, a decline of 7s to 8s a cwt. on the week. Borne agents repoit that finest grade was selling at 70s and first grade at 695, which is the lowest level recorded since the beginning oi last April. The market closed quiet, retail prices being unchanged. The Daiiy Board reports that the retail price ol New Zealand butter will be reduced this week in some southern centres to lOd a lb., a rate that is fairly general in the North of England. Deliveries of New Zealand butter last week totalled 2475 tons, compared with 163 S tons for the previous week, indicating that consumption is good at the lower prices ruling. New Zealand butter in store at the end of the week was 3150 tons (including a newlyarrived shipment of 1487 tons), as against 2600 tons the previous week. The Empire Marketing Board’s estimate of the stocks of all butters was •163,613 boxes, compared with 391,900 boxes a year ago. The cheese market closed steady but quiet, prices showing little change during the week. The Dtairy Board’s London office reports Friday’s official closing quotations as follows, those for the previous week being shown in parentheses:— Butter New Zealand, salted, 70s, 72s Io 74s (77s to 80s; December 1, 1932, 86s to 88s); 70s to 72s equals approx. 8. Id f.o.b. Deliveries, New Zealand, 2475 tons. In store, 3150 tons, includes 1487 tons Mamari. Australian, salted, 70s to 72s (75s to 78s); unsalted, 86s, 94s to 96s (102 s to 106 s). Deliveries, Australian, 1475 tons. In store, 1320 tons. Danish, 89s f.0.b.; 112 s to 113 s spot (955; litis). Estonian, unsalted, 86s. Dutch, unsalted, 106 s to 110 s (110 s to 1145).’ Siberian, 68s to 72s (73s to 745). The board has also received the following advice from its agents in Canada:—Butter: New York, 23| cents; Montreal, 22 cents a lb. Stocks, 2408 tons, compared with 5155 tons a year ago. Cheese New Zealand, white, 48s, 49s to 50s (47s to 48s); December 1, 1932, 64s to 655); coloured, 47s (46s to 47s 6d; December 1, 1932, 64s t 0.655). White at 48s to 49s equals 5.23 d a lb. f.0.b., and coloured at 47s equals 5.04 f.o.b. Deliveries, New Zealand, 20,000 crates. In store, 23,000 crates. Australian, white, 47s to 48s; coloured, 45s to 475. Canadian, white, 48s to 53s (47s to 545); coloured, 48s to 53s (48s to 545). Deliveries, Canadian, 6700 boxes. In store, 216,505 boxes. English, finest farmers, 90s to 94s (90s to 945). Agents’ Reports The New Zealand Producers’ Cooperative Marketing Association's weekly cabled market report from London dated December I is as follows: —Butter; Market quiet. New Zealand, 69s to 71s; Danish, 108 s. Cheese: Market steady. New Zealand, white, 48s; coloured, 465. Joseph Nathan and Co., Limited, have received the following report from their principals, Trengrouse and Nathan, Ltd., London, dated December 1: —New Zealand butter, 70s to 71s per cwt. New Zealand cheese, white, 48s per cwt.; coloured, 475. Both markets quiet. A. H. Turnbull and Co., Ltd. have received the following cable from their principals, W. Weddcl and Co., Ltd., London, dated December 1: Butter: Danish, 112 s to 113 s; New Zea land, finest, 70s to 725; Kangaroo, finest, 70s to 725. Market irregular, closing sales at 70s tor finest. Cheese: New Zealand, white, 48s to 495; New Zealand, coloured, 475. Markets steady.

Mr. Thomas Gray has received the following cable message, dated December 1, from Mr. A. C. Rowson, London: —Cheese: New Zealand, white, 47s to 48s per cwt.; New Zealand, coloured, 46s to 475. The demand is fairly good and the market weak. Butter: First grade, 69s per cwt,; finest, 70s. The demand is very slow and the market very weak.