NEW ZEALAND BUTTER

Waikato Times, Volume 124, Issue 20845, 1 July 1939, Page 9

NEW ZEALAND BUTTER

STEADY UPWARD TREND MARKET FIRM AND ACTIVE (By Telegrapn.—Press Association) WELLINGTON, Saturday Advices from London state that the steady upward trend in butter prices has been continued. Choicest salted New Zealand is quoted at 119 s to 120 s per cwt., an advance of Is over the week. This is the highest point reached since February, but is still almost 5s below the London equivalent of the guaranteed price. The market is firm and active. In unsalted butters, New Zealand ranges from 120 s to 121 s per cwt., with Australian at 114 s per cwt. The recovery in cheese prices is not as sharp as in previous weeks, but further progress has been made. Recent quotations and those of a year ago compare as follows: June 30 June 23 July 1 Butter— 1939 1939 1938 .New Zealand 119/6 118/6 123/Australian .. 113/-6 113/6 121/Danish ...... 123/- 123/- 125/6 Cheese—N.Z.: White 64/6 64/- 68/0 Coloured 67/- 66/- 68/6 Australian: White .... 62/- 61/- 79/Coloured .... * 62/- 79/- * Not quoted The present price of 119 s 6d is equal to approximately 14.29 d per lb., f.0.b., New Zealand ports, compared with the guaranteed price of 14.89 d per lb., f.o.b. The London equivalent of the guaranteed price is 124 s 3d per cwt. The equivalent price of cheese is about 7.49 d per lb., f.0.b., compared with the guaranteed price of 8.42 d.