FALL IN BUTTER

Wanganui Chronicle, Volume 83, Issue 114, 17 May 1939, Page 11

FALL IN BUTTER

NEW ZEALAND DOWN TO 108 s SHARP DECLINE IN CHEESE A decline of 6s a cwt. last week brought the price of New Zealand butter in London down to 108 s a cwt., which is more than 16s a cwt. below the London equivalent of the guaranteed price. The present price is 25s a cwt. below that ruling a year ago. The cabled report supplied by the Primary Products Marketing Department to the Dairy Board states that there was a declining market throughout the week which closed quiet. Friday’s closing quotations, with those of the previous week in parentheses, were as follows: New Zealand: Salted, 108 s, ex. 109 s I (113 s to 114 s; a year ago, 133 s to 1345); unsalted, Ills to 112 s (1175 to 118 s; a year ago, 134 s to 1355). Australian: Salted, 106 s to 107 s (110 s to Ills); unsalted, 109 s to 110 s (113 s Danish, 105 s f.0.b.; 126 s to 127 s spot (105 s 126 s to 1275). Dutch: Unsalted and salted, 98s to 100 s, ex. 105 s (105 s to 106 s). Estonia: Unsalted, 100 s to 102 s (106 s to 109 s). Lithuanian: Unsalted, 102 s to 108 s. Polish: Salted, 101 s to 104 s (105 s to 107 s); unsalted, 101 s to 103 s. South Africa: 97s to 101 s (102 s to 105 s). Retail prices were unchanged, New Zealand at Is 2d and Danish at Is 3d a lb. The present price of 108 s is equal to approximately 12.84 d a lb, f.0.b., New Zealand ports, compared with the guaranteed price of 14.89 d a lb f.o.b. The London equivalent of the guaranteed price is 124 s 3d a cwt. The equivalent price of cheese is about 6.05 d a lb, f.0.b., compared with the guaranteed price of 8.42 d. Deliveries of New Zealand butter from store last week were 1544 tons. The quantity in store on Friday, including 18,100 boxes ex Kent, was 6178 tons, as against. 5295 tons a year ago. Deliveries of Australian butter from store were 1195 tons. The quantity in store was 2284 tons, compared with 5191 tons a year ago. The Imperial Economic Committee's estimate of the stocks of all butter in store is 762,451 boxes, compared with 819,464 boxes a year ago. There was a sharp fall of 6s a cwt. in the price of New Zealand cheese in London, the quotation on Friday of 54s being the lowest recorded for two years. The latest price is 16s a cwt. below that ruling a year ago. The Primary Products Marketing Department's cable says the market closed “slightly steadier at the lower prices.” Friday’s closing quotations, with those of the previous week in parentheses, were as follows: New Zealand, white and coloured, 54s (60s; a year ago, white 70s, coloured 70s to 70s 6d). Australian, white and coloured, 50s to 52s (white 51s to 565, coloured 55s to 575). Canadian, white and coloured, 71s to 74s (71s to 745). Old season’s coloured, 82s (82s). English finest farmers’, 90s to 100 s (SBs to 100 s); market quiet. South African, white and coloured. 48s to 52s (50s to 565); market slow. The retail price of New Zealand cheese in London was 8d a lb, but some shops were selling at 7d. Deliveries of New Zealand cheese from store last week were 11,124 crates. The quantity in store, including 5540 crates ex Port Darwin, was 107,529 crates, compared with 70,223 crates a year ago. Deliveries of Canadian cheese were 4181 boxes, the quantity in store being 66,867 boxes, against 73,104 boxes a year ago. Gradings of cheese in New Zealand for the week ended May 6 were 15.338 crates, of which 9860 crates were of white and 5478 crates of colo u red.