BUTTER MARKET STRONG

Sun (Auckland), Volume II, Issue 539, 17 December 1928, Page 10

BUTTER MARKET STRONG

‘KEEN DEMAND AT HOME CONTINENT ALSO BUYS ; (Australian and X.Z. Press Association) itecd. 9.5 a.m. LONDON. Saturday. The butter market has shown great strength this week. Prices for all descriptions have advanced, and the rise is a genuine one. brought about by a real shortage. For some time past retailers have been working on very small stocks, and they appear suddenly to have awakened to the fact that prospective supplies are much smaller than they thought. There is also a great shortage on the Continent, and considerable quantities of Colonial butter are being bought on this market by Gerrpany, Belgium, Holland, France, Italy and Switzerland. This demand appears likely to continue, and prospects for the next month or so appear to be decidedly favourable, with the whole trade feeling fairly comfortable. FOLLOW N.Z. EXAMPLE ADVICE TO AUSTRALIA FRUIT TREATY WITH GERMANY ‘ (Australian and X.Z. Press Association) j Reed. 9.5 a.m. LONDON, Saturday. In their annual review of the Ausj tralian and New Zealand fruit season, |F. W. Moore "and Company call atten- | tion to the fact that New Zealand, since | June, has enjoyed the advantage of a ; favoured-nation treaty with the German Government. Several other nations have a similar arrangement, by which they have to pay only seven reichmarks import duty (roughly 7s) for each hundred kilograms, instead of the 15 reichmarks which is charged on Australian fruit. This, of course, only applied to fruit bought for consumption in Germany, but Germany, with a population of 60,000,000, has a large number of potential buyers who hesitate to compete for apples on which the duty is rouglily 2s 9d a. case, and concentrate their attention on apples which, under the favou7red-nation treaty, pay about Is 6d a case lower duty. Commenting on this position. Messrs. Moore write: “The Australian fruitgrower needs to stir up the Commonwealth Government to follow New Zealand’s example. The Ministry of Markets in Australia should attend to this without delay.” BUTTER AND CHEESE i BOARD’S WEEKLY REVIEW The New Zealand Dairy Produce Board has received the following- market report from its London office, dated December 14, the prices for the previous week being given in parentheses:—. Butter New Zealand—Salted ls2s to 186 s a cwt (176 sto lS2s); uns.ilted. 194 sto 19Ss (194 s to 198 s); first whey, 174 s (1625); second whey, 170 s (162). Deliveries Mew Zealand this’ week, 1,950 tons; in store, 3,350 tons. Australian—Finest salted, ISOs to IS2k up to lS6s (174 sto 17Ss); unsalted, 182 s to lS6s up to 188 s (182 to 186 s). Argentine—Finest unsalted, 176 s to ISOs up to lS2s (L76s to 180 s). Danish—F.o.b., 211 s (198 s); spot, 218 s (2045). Dutch—Unsalted, 212 s (204 s to 2065). Market firm; retail prices unchanged Cheese New Zealand—White, 97s to 98s (96s to 98s); coloured, 90s to 100 s (97s to 98s). Deliveries New Zealand this week 27,500 crates. In store, 37,000 crates. Canadian—White. 110 s to 112 s (110 s to 112 s); coloured, 108 s to 112 s (IOSs to Australian—White, 96s to 975; coloured 96s to 100 s. Market steady; retail j>rices unchanged. MERCHANTS’ REPORTS Merchants report receipt of overseas cables as follow: Leonard and Son, Ltd., from their London principal, A. C. Rowson, under, date December 15:—"Cheese; New Zealand, first grade white, 975: finest, 9Ss; first, coloured, 995; finest, coloured 100 s Market steady, with fair demand. New Zealand first grade butter, 182 s to 183 s; finest, IB4s to 185 s. Market fair, with general good demand.” Amalgamated Dairies, I,td. from their London manager, under .date' 15th inst:— w*.S utter ~‘ Anchor '’ IS6s : unsalted cleared, 198 s; market very firm. All stocks well cleared. Danish. 21Ss on the spot, with f.o.b. quotation now 21Ss. Deliveries New Zealand, 1.940 tons, stock 3,555 tons. Retail Danish advancing Monday, 2s Id. New Zealand unchanged, Is lOd. “Cheese—Unchanged. Canadian matured 108 s to 110 s; late make, 100 s to 104 s; retail unchanged.” LONDON MARKETS FROZEN MEAT VALUES I (Australian and X.Z. Press Association) LONDON, Saturday. Sheep—New Zealand ewes, 4 3-Sd; Australian ewes. 4Jd. Lambs—Canterbury seconds, 7id; other light, f• A cl: medium, 0 ! 3 ~8d; North Island seconds. 7 3-Sd; Aus- ! tralian firsts, Victorian, 9d; others, Sid; ! seconds, Victorian, 7!Jd; others, 7\d; , thirds, 6 7-Sd; Argentine seconds. 62d' j thirds, 6^d. f Chilled Beef —Argentine hinds, 6 3-Sd; ! other meats unchanged. Cotton. Rubber, Jute. Etc. j (Last week’s prices in parentheses.) ! Cotton—January delfvery, 10.49 d (December, 10.45 d) a lb. Rubber—Para. 10id (lOid) a lb: plantation and "smoked. B.Jd (S 11-16 d). Jute—December-January shipments, .£32 5s (November-December. £32 2s 6d) a ton. Copra—December- January shipments, £24 10s (November-December, £2l lOsi a ton. Linseed Oil—£29 5s (£3O 15s) a ton. Turpentine—47s (47s 6d) a cwt. Wheat Wheat.—Cargoes are quietly steady and occasionally dearer on better American reports, but buyers are not responsive. Parcels are inactive and steady. ! Liverpool futures: December delivery, 9s 0 1-Sd a cental; March, 9s 2 3-Sd; Mav j 9s 3 i-Sd; July, 9s 4£d.