DAIRY PRODUCE

Wanganui Chronicle, Volume 79, Issue 30, 5 February 1935, Page 11

DAIRY PRODUCE

BUTTER FIRM AT 90s. OPAWA FOR NEW YORK. After a quiet period in the middle of last week, t het London butter market firmed again at the end of the week under a good demand, and closed firm at 87s to 90s for New Zealand fnest salted, unsalted being quoted at 92s to 945. The New Zealand retail price has now been increased Id to lid a lb. New York inquiry continues to stimulate the market and a further vessel, the New Zealand Shipping Company’s motor-ship Opawa, has now been fixed to load butter for New’ York. The vessel is scheduled to leave Wellington on February 28 for New York and London via the Panama Canal. It is reported that 5000 boxes of butter have already been booked for shipment in the Opawa. which brings the total either left New Zealand or booked to leave shortly to over <50,000 boxes. Butter prices are still rising in New York and are now 371 cents, compared with 351 cents a week ago. Deliveries of New Zealand butler last week totalled 2717 tons, compared with 23€2 tons for the previous week and 1787 tons a year ago. The quan tity of New Zealand butter in store is 5644 tons, compared with 4932 tons for the previous week and 3750 tons a year ago.

The cheese market improved last week and closed steady at 46s 6d to 47s 6d. Deliveries of New Zealand cheese last week were 20,602 crates, while the quantity in store is 94,813 crates, compared with 31,000 crates a year ago. The Dairy 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. 87s to 90s (84s to 85s; February 1, 1934, 66s to 675) (90s equals approximately 10.3 d f.0.b.); unsalted, 92s to 94s (88s to 90s; February 1, 1934, 72s to 745). Deliveries, New Zealand, 27.17 tons; in store, 5644 tons. Australian, salted, 87s to 88s (82s to 83s); unsalted. 90s to 91s (85s to 86s). Deliveries, Australian, 2750 tons; in store, 2534 tons. v South Africa, salted, 84s to 86s. (Danish, 98s f.0.b., 118 s spot (quiet) (109 s to 113 s). The board has also received the following advice from its agents in Canada: —Butter; New York, 37f cents; Montreal, 24i cents. Canadian stocks, 3128 tons, compared with 1540 tons last year. Cheese. New Zealand, white, 47s to 47s 6d (5.05 d f.0.b.) (45s to 465; February 1, .1934, 42s to 435); coloured, 46s 6d to 47s (5d f.0.b.) (45s to 465; February 1, 1934, 44s to 455). Deliveries, New Zealand, 20,602 crates; in store, 94,813 crates. Australian, white and coloured, 45s to 45s 6d (44s to 455). Canadian, white and coloured, 58s to 60s (56s to 595). Deliveries, Canadian, 5750 boxes; in store, 118,089 boxes. English fine-st farmers’, 82s to 90s (82 to 90s). English factory cheese, 42s to 45s (43s to 445).

Agents’ Reports. Mr. Thomas Gray ha.s received the following cable from Air. A. C. Rowson, dated London, February I: — Cheese: New Zealand, white and coloured, 475; demand steady. Butter: New Zealand, finest grade, 90s; demand good. The New Zealand Producers’ Cooperative Marketing Association's weekly cabled market report, London, dated February 2: —Butter: Market firm; New Zealand, finest, 89s to 90s; first grade. 87s to 88s; Danish, 118 s. Cheese; Market steady; New Zealand, white, 46s 6d to 475,• coloured, 46s to 475. Joseph Nathan and Company, Ltd., have received from their principals, Trengrouse and Nathan, Ltd., London, the following cabled advice, dated February 1: —New Zealand butter, 90s; very firm. New Zealand cheese, white 47s to 47s 6d; coloured, 46s 6d; firm. MINIMUM F. 0.8. PRICES. The New Zealand Dairy Produce Board has fixed the minimum prices fop f.o.b. and c.i.f. sales on the basis of:—Butter, 10jd; cheese, 5Jd. Alinimuni prices arc subject to agent's sell ing commission of 1| per cent. These prices are equivalent to:—Bui ter, 83s 6d c.i.f.e.; cheese, 45s .lid c.if.e.