RISE IN BUTTER

Hawke's Bay Herald-Tribune, Issue 168, 3 August 1937, Page 4

RISE IN BUTTER

N.Z. at 119/- Reaches Highest Point This Year CHEESE ALSO ADVANCES The highest price recorded this year was reached by New Zealand butter on a steady London -nlarket last week, choicest salted rising to 118/- and 119/per cwt., an advance of up to 2/- over the previous week's figure, and an increase of 3/- over the price ruling a year ago. Australian butter also advauced, and Danish weut up to 124/-, althougb this price is 2/- lower than that recorded a year ago, as against New Zealand 's sharp rise. • Cheese values for New Zealand and Australian produce continue to recover, hut Canadian showed a substantial fall. New Zealand white is sell-„ ing at 75/-, a gain of 1/- for the week, and coloured increased by 6d to 72/-. The basdc rates fixed under the guaranteed price scheme, svbject to quality diffierentials, are 117/3 for butter and 63/7 for cheese per cwt. f.o.b., New Zealand currency. The equivalent landed prices in London are approxilately 105/- to 106/- for butter and 60/6 for cheese. The guaranteed price for butter is equal to 12.565d per lb., f.o.b., and tho current London quotation is equivalent to approximateiv 14.11d per lb., f.o.b., New Zealand ports.