ADVANCE IN PRICES.

Waikato Times, Volume 107, Issue 18005, 28 April 1930, Page 4

ADVANCE IN PRICES.

BUTTER AND CHEESE.; MARKET MORE CONFIDENT. LONDON STOCKS CLEARED. A further improvement in the London butter market is reported In the advices received by Auckland merchants during the week-end. Prices have risen gradually since the low level of 120 s was touched about two weeks ago, and the latest information states that best quality New Zealand butter Is selling up to 136. An improvement is also reported in the market for cheese. . The reports indicate that there is a more confident tone in the market. The low retail price of l,s 4d winch, lias prevailed in England for about six weeks has had the effect of enabling holders to clear their stocks. It is evident that consumption has been greatly stimulated with correspondingly good effects. Dairy Board’s Advice. The New Zealand Dairy Produce Board has received the following market report from its London office dated April 25, prices for the previous week being in parentheses:— Butter. —New Zealand: Salted, 128 s to 1345, up to 136 s (123 s to 1265) (last year, 162 s to 1645); unsalted, 136 s to 144 s (132 s to 140 s) (last - year, 166 s to 168 s); first whey, 122 s (116 s); second whey, 120 s (114sJ. Deliveries New Zealand this week, 950 tons; in store, 9050 tons. 1 Australian: Salted, 126 s to 132 s (120 s to 1235); unsalted, 128 s to 130 s (120 s to 1245). Argentine: Unsalted, 118 sto 124 s (114 s to 120 s). Irish: Salted, 128 s to 132 s (120 s) ; unsalted, 130 s to 134 s (1245). Market firm, on greatly improved demand. Danish: F.0.b., 130 s (1335); spot, 138 s to 140 s (138 s to 140 s). Dutch: Unsalted, 138 sto 140 s. Market steady. Siberian: 122 s (116 s to 118 s). Polish: 118 s (112 s. to 118 s). Retail prices unchanged. The Empire Marketing Board’s estimate of stocks of all butter at April 19 is 727,510 boxes. Cheese. —New Zealand: Wihite, 78s to 81s (75s to 765) (last year, 87s to 88s) ; coloured, 80s to 84s (88s *to 89s)' (last year, 88s to 89s). Deliveries New Zealand this week, 19,750 crates; in store, 11,771 crates. Canadian: White, 104 s to 106 s (96s to 100 s); coloured, 104 s to 107 s (96s to 98s). Deliveries of Canadian 2017 boxes; In store, 102,988 boxes. Improved demand. Retail prices unchanged. Australian: White, 70s to 735; coloured, 70s to 7is. Market steady. . „ The board has also received the following advice from its agents in Canada: Butter —New York, 38$ cents (Is 7sd); Montreal, 31$ cents (is 3fd). a _ Merchants’ Advioea. Messrs. A. H. Turnbull ■ and Company have received the following cablegram, dated April 25, from their principals, Messrs. W. Weddel and Company, Limited >— Danish butter, 138 s to 140 s; New Zealand unsalted ; butter, 136 sto 1445. New Zealand salted butter, 128 sto 1345. New Zealand cheese: White, 78s to 81s; coloured, 80s to 84s. Canadian cheese: White, 97s to 98s; coloured, 97s to 100 s. The New’ Zealand Loan and Mercantile Agency Co., Ltd., has received the following cablegram from its London house, dated April 25: Butter: Choice salted, 136 s to 138 s. Cheese: White, 81s; coloured, 855.. Market steady. Joseph Nathan and Co., Ltd., have received the following cablegram from its London house: (Butter: 1365,- with, much better prospects in the near future. Cheese: White, 82s; coloured Messrs. Dalgety and Co., Ltd., have received the following cablegram from its London house, dated April 25: Butter: The market is firm. New Zealand finest salted, 132 s to 1365; Danish 138 s to 140 s; Australian finest unsalted, 124 s to 128 s; Australian finest salted, 128 sto 1325. Cheese: The market is firm. New Zealand: White, 80s to 82s;- coloured, 80s to 84s. Canadian: White, 94s to 100 s; coloured, 94s to 98s. Australian. White, 77s to 78s; coloured, 78s to 81s.

PESSIMISM NOT JUSTIFIED.

REGENT COLLAPSE IN LONDON. United Press Assn. —Elec. Tel. —Copyright. LONDON, April 26. There is no foundation for pessimistic views regarding the future of Australian dairying, according to Mr. Hears, director of Empire Dairies. The main factor responsible for the lower range of values this season is, he stated in an interview, the exceptionally mild winter in Britain and on the Continent. Mr. Hears considers that there is no justification for the recent collapse of prices. This was largely due to the multiplicity of sellers. If the sales had been confined to six or eight sound firms, values could have been held at 140 s. Immediately after his arrival he withdrew' a large quantity of butter from the 12.0 s market. This had its due influence on buying, which was now brisk. Australian was quoted at 135 s and New Zealand at 138.5. He estimated that the dairy farmers in Australia had lost this season at least £100,0,00 through lack of concentrated selling.

LATEST LONDON QUOTATIONS.

ADVANCE IN BUTTER. CHEESE CONTINUES STRONG. (By Telegraph—Special to Times-) AUCKLAND, Monday. Amalgamated Dairies, Ltd., have received the following cablegram from their London office, dated April 20; — Succeeded in raising the market for “Anchor’’ butter to 140 s. The rapid movement against the “bears” proved entirely successful. ■Danish, 140 s spot, 132 s f.o.b. Retail prices still generally Danish is od. New Zealand is 4d, although multiples are discussing advancing. Cheese continues strong on a good demand, with spot stocks available for sale , very short, more than anticipated being Withheld. Closing price: /White 845," .coloured 88s. Retail prices still generally 10d, although an advance is being considered-