BUTTER MARKET FIRM

Sun (Auckland), Volume II, Issue 537, 14 December 1928, Page 12

BUTTER MARKET FIRM

HIGHEST SINCE 1925 Yesterday’s reports regarding the firming tone of the London butter market are supported by London cables received in Auckland this morning. A strong demand has forced the market up to see New Zealand finest salted making 186 s, the highest price since December, 1925. The latest peak quottaion is equal to Is 6.14 d a lb, f.o.b. New Zealand ports. In December, 1925, New Zealand butter dropped from 193 s to 175 s in a week. In December, 1926, the market hovered round the 173 s mark, and in December, 1927, the average was even lower. At the moment, indications are that there is a real demand for New Zealand butter and that the recent improvement is not merely a flasmh in the pan due to Christmas bookings. When it is considered, therefore, that production throughout the Dominion shows a considerable increase on last year’s record figures, and that a big percentage of the output has been sold forward at up to Is 5d a lb, f.0.b.. the outlook for the farmer is very bright. Merchants’ Reports Merchants report receipt of overseas cables as follow: Norden and Co., from their London principals, Andrew Clement and Sons, under date December 13: “Suited butter, 184 s, unsalted 198 s; market firm. Cheese, coloured 100 s, white Q7s; market steady." Amalgamated Davies, Ltd., from their London manager, under date 13th instant: •‘Butter, Anchor 186 s; other finest, 184 s; market very firm. Danish, 2165. Cheese, white 97s to 98s; coloured, 99s to 100 s; market slow.” Dalgety and Co., Ltd., from their London house, dated 13th instant: “Butter— The market is firm; New Zealand finest, 180 s to 186 s; Danish, 212 s to 2155; Australian finest unsalted, 182 s to 186 s; Australian finest salted, 180 s to 182 s; Australian g.a.q.. 172 s to 1765. Cheese: The market is stead at present prices; New Zealand white, 96s to 98s; coloured, 98s to 100 s; Canadian white and coloured, 108 s to 112 s. The total imports of butter into the United Kingdom last month were 442,000 cwts, as compared with 401,000 cwts for corresponding period of last year.