BUTTER PRICES HIGHER

Gisborne Herald, Volume LXVI, Issue 19990, 15 July 1939, Page 7

BUTTER PRICES HIGHER

ABOVE GUARANTEE LEVEL FIRST TIME FOR MONTHS 8/- ABOVE AUSTRALIA (Elec. Tel. Copyright—United Press Assn.) (Reed. July 14, 3 p.m.) LONDON, July 13. The butter market is quiet at the following rates: Danish, 128 s to 130 s; New Zealand, choicest salted and unsalted, 1265; Australian, 117 s to 118 s. The cheese market is firm, New Zealand white at G4s Gd and coloured at 07s; Australian, white G2s to G2s Gd, coloured 64s to Gss.

The price for New Zealand butter :\i London is above the guarantee level for the first time for over six months. The gain this week was 2s per cwt, and the price is only 4s per cwt. below Danish, 'while New Zealand holds a big advantage over Australian, the margin being unusually large, for the difference in the rates of the Dominion and Commonwealth prices is seldom more than 2s.

At 12Gs per cwt., New Zealand butter is worth lo.OGd per lb, f.0.b., or .17d above the guaranteed price of 14.89 d. While the high prices must .be regarded as most satisfactory, they have come rathc-r late 'to counteract to any great extent the comparatively low levels ruling for the greater part of the season. Only on two other -occasions this season lias the London, price exceeded the guarantee. The present season will close at the end of this month, and it has been estimated that the deficit in the Dairy Account may reach £3,000,000.