BUTTER MARKET

Evening Post, Volume CXXVII, Issue 118, 22 May 1939, Page 12

BUTTER MARKET

A SHARP DECLINE

LACK OF CONFIDENCE

(By Telegraph—Press Association —Copyright.) LONDON, May 20. Butter has declined sharply and Dominion is freely offered at the lower prices but has attracted little interest. There is still an entire lack of confidence. Traders do not expect any improvement in cheese for the time being. The wholesale price of New Zealand butter in London was down to 105s per cwt on Friday and cheese to 50s. The difference between the market price and the Government guaranteed price is seen in the comparative table following. Govt. Govt. guarantee. Market. loss. Per cwt. Per cwt. Per cwt. Butter 12-1/3 10.1/- 19/3 Cheese "3/9 30/- 23/9 These prices are in sterling. Retail prices of New Zealand butter and cheese in London as reported by the Marketing Department and current in Wellington:— London. Wellington. Sterling. X.Z. Butter, per 1b 1/1 1/6 Cheese, per lb 6d lOd The local price of cheese varies, but lOd to lid is current for coloured and Is Id to Is 4d for white matured. The Dairy Board, by arrangement with the Marketing Department, reports that at the close of business in London on Saturday the New Zealand butter market was slow, as it was for the week before. Prices quoted for salt butters, with those for the week before, were:— ] May 13. May 20. Per cwt. Per cwt. | Xew Zealand . 108/- to JO9/- 105/- , Australian .. 106/- to 107/- 103/- to 104/- I Danish, spot . 126/- to 127/- 123/- to 124/Polish 101/- to ]04/- »S/- to 101/South African 97/- to 101/- Or./- to 99/Danish butter is selling retail at Is 3d per lb, as last week. Unsalted butter prices are as follows: —New Zealand, 108s to 109s; Australian, 106s to 107s; Dutch, 98s to 100s; Lithuanian, 102s to 104s; Polish. 98s to 101s. The Marketing Department's advices as to New Zealand butter are that the demand has improved at lower levelsretail Is Id. The market for New Zealand cheese was advised as "steadier" at lower prices, with the retail price unchanged at 8d per lb, and in some shops it was sold at 7d per lb. Wholesale prices for cheese compare as follows: — May 13. May 20. Per cwt. Per cwt. X.Z. white and coloured 54/- 49/- to 50/Australian— White 50/- to 52/- 46/- to 49/Coloured ... 50/-, to 52/- 46/- to 49/Canadian, white and coloured 71/- to 74/- 70/- to 72/Canadian. old. coloured 82/- 82/S. African— white and coloured ...... 48/- to 52/- 46/- to 47/English farmers' finest .. 90/- to 100/- 90/- to 100/-

Butter Cheese