DAIRY PRODUCE

Wanganui Chronicle, Volume 80, Issue 249, 20 October 1937, Page 11

DAIRY PRODUCE

MARKETING DEPARTMENT’S REPORT. The London butter market continued to advance last week, and the price of New Zealand butter at 135 s per cwt. reached the highest level for seven years. Last week’s price was 40s a cwt. higher than a year ago, and was nearly 3d per lb. f.o.b. abo\e the guaranteed price. The basic rates fixed under the guaranteed price scheme, subject to quality differentials, are 123 s 8d for butter and 70s 4id for cheese per cwt., f.0.b., New Zealand currency. The’equivalent landed prices in London are 112 s for butter and 67s for cheese. The guaranteed price for butter is equal to 13.25 d per lb., f.0.b., and the current London quotation is equivalent to approximately 16.22 d per lb., f.o.b. New Zealand ports. The equivalent price for coloured cheese is 7.89 d per lb., f.0.b., and for white, 7.99 d., compared with the guaranteed price of 7.54 d. According to the cabled report received by the Primary Products Marketing Department the market closed firm on Friday, supplies being short. Closing quotations were as follows, those for the previous week being shewn in parentheses: — New Zealand, salted, 135 s (130 s a year ago 95s to 965); unsa'lted, 135 s to 136 s (130 s to 131 s; a year ago, 100 s). Australian, salted and unsalted, 134 s to 135 s (130 s Danish, 123 s f.0.b.; 145 s spot (118 s 139 s to 140 s). Dutch, unsalted, 133 s to 134 s (1295). Estonian, salted, 132 s to 1335. Lithuanian, unsalted, 133 s (128 s Siberian, salted, 132 s to 1335. The retail prices of New Zealand at Is 4d and of Danish at Is 5d a lb. are unchanged. Deliveries of New Zealand butter last week were 1831 tons, and inc quantity in store in London was 4821 tons, as against 4725 tons a year ago. Australian deliveries were 847 tons, the quantity in store being 814 tons. The Imperial Economic Committee estimates that stocks of all butters in store at 478,204 boxes, as against 986,862 boxes a year ago. The cheese market was steady. Closing prices, with those for the previous week in parentheses, were as follows:—

New Zealand: White, 70s 6d (70s 6d to 71s; a year ago, 68s to 68s 6d); coloured, 69s 6d (10s; a year ago, 655). Canadian: White, 70s to 71s (70s to 71s (70s to 71s); coloured, 71s to 725; c.i.f., 70s 6d t<69s 6d); old season's white, 83s to 84s (82s). English: Finest farmers’, 90s to 92s (90s). i Deliveries of Now Zealand cheese ■last week were 13,571 crates, the quantity in store being 42,524 crates, as against 45,402 crates a year ago. Canadian deliveries mere 16,343 boxes, the quantity in store being 143,743 boxes, as against 104,771 boxes a year ago.