DAIRY PRODUCE

Wanganui Chronicle, Volume 79, Issue 283, 3 December 1935, Page 11

DAIRY PRODUCE

BOTH MABKHTS WEAK PRICES DECLINE A weakening in the London butler market early last week caused prices to drop steadily throughout the week, and tlie market closed slow and weak at 96s to 97s for New Zealand finest, a decline of 7s on the week. Deliveries of New Zealand butter last week totalled 2371 tons, compared with 2066 tons for the previous week and 1803 tons a year ago. Australian deliveries were 1403 tons, against 1598 tons for the previous week and 1212 tons a year ago. The Imperial Economic Committee’s estimated stocks of all butters in store is 443,215 boxes, compared with 734,101 boxes a year ago and 463,613 boxes two years ago. New Zealand butter in store has dropped to 3025 tons, compared with 3988 tons for the previous week and 5083 a year ago. Australian stored butter amounts to 1503 tons, against 1420 tons for the previous week and 2615 tons a year ago. The cheese market also weakened last week, closing slow at 52s 6d for white and 55s for coloured. Deliveries of New Zealand cheese last week were 19,985 crates, compared with 18,692 crates a year ago. The quantity in store has dropped to 53,964 crates, against 71,918 crates a year ago. Canadian deliveries were 7216 boxes, compared with 7489 boxes a year ago, while the quantity in store totals 149,595 boxes, compared with 168,993 boxes a year ago - . The Dairy Board’s London office reports last week’s closing quotations as follow, those for the previous week being shown in pares theses Butter New Zealand, salted (equals approximately 11.44 d f.0.b.), 97s to 98s, ex. 100 s (103 s to 104 s; November 29, 1934, 723 to 735); unsalted, 108 s to 110 s (108 s to 110 s; November 29, 1934, 74s to 765). Australian, salted, 96s to °Bs (102 s to 103 s). Danish, 105 s f.0.b., 124 s *o 125 s spot (104 s and 123 s to 1245), Dutch, unsaltcd, 105 s (107 s to 109 s). {South Africa, 92s to 97s C94s to 98s). Polish, salted, 91s to 95s (96s to 975). Cheese New Zealand, while (equals Approximately 5.84 d f.0.b.), 53s 6d (52s 6d to 535; November 29, 1934, 475); coloured (equals approximately 6.09 d f.0.b.), 35s to 56s (53s 6d to 545; November 29, 1934, 465). Australian, white, 50s to 52s (49s to 51s); coloured, 50s to 52a (50s to 525). Canadian, white, 56s to 58s (58s); coloured, 56s to 60s (58s to 595); old s'eoson’s, white, 60s to 70s (65s to 68s); old season’s, coloured, 70s (70s). English finest farmers’, 100 a to 106 s (100 s Io Jo6s). English factory, 46s to 53s (42s to 525). Agents’ Reports Mr. Thomas Gray has received the following cable from Bowson and Co., Ltd., dated London, November 29: Cheese: New Zealand, white, 52s 6d per cwt; coloured, 35s per cwt. Butler: New Zealand, linest grade, 96s per cwt. Both markets weak. The New Zealand Producers’ Cooperative Marketing Association’s weekly cabled market report from London dated November 29 is as follows:—Butter market is slow and prices have declined. New Zealand, finest, 975; first grade, 965. Danish, 1255. Cheese market quiet. New Zealand, while, 52s 6d to 535; coloured, 555. A. H. Turnbull and Co., Ltd., have received the following cable from their principals, W. Woddel and Co., Ltd., dated London. November 29: —No interest in forward purchases. Butter: Market dull. Danish, 1245. New Zealand linest, 965. Kangaroo finest, 955. Cheese: Market quiet. New Zealand, white, 565; coloured, 555. Joseph Nathan and Co., Ltd., have received from their principals, Trengrouse and Nathan, Ltd., London, the following cabled advice, dated November 29: —New Zealand butter: 96s to 975. Market weak. New Zealand cheese: White depressed to 52s 6d. Market very quiet. Minimum f.o.b. Prices The New Zealand Dairy Board has fixed the minimum prices for f.o.b. and c.i.f. sales on the basis of: Butter 11 Ad, cheese 5Ad. Minimum prices are subject to agents’ selling commission of H per cent. The prices are equivalent to 93s c.i.f.e. for butter, and 4i» lOd c.i.f.e. for cheese. War Risk Insurance The board has received advice from its London office that the additional premium for war risk, arranged for ships up to and including the Trojan Star, to sail on December 21, will be Is 6d per cent.