BUTTER PRICES RISE SUDDENLY

Sun (Auckland), Volume II, Issue 545, 24 December 1928, Page 12

BUTTER PRICES RISE SUDDENLY

GOOD LONDON MARKET MR. GOODFELLOW’S REVIEW ; (From Our Own Correspondent) £ HAMILTON, To-day. ••There has been a spectacular rise in the London market for butter at a time when, under normal conditions, prices would have declined considerably/' said Mr. W. Goodfellow, managing-director of the New Zealand Co-operative Dairy Company in his monthly statement to suppliers. "During the past two weeks, he fedded, it had become obvious that the prolonged drought in 2s ew South Wales and Queensland would result in a rapid decline of exportable butter from Australia. Further, Eastern Canada had purchased abnormally large quantities of New Zealand butter for shipment during December and January, and finally the Continent of Europe was buying Danish butter more heavily than usual. Mr. Goodfellow said it was now safe to predict that factories which sold at J s 5d f.o.b. at the commencement of the season would not obtain as good a result as those consigning. During the past, fortnight London buyers had purchased large quantities of New Zealand butter for December, January, February and March shipment, at Is 5d a lb., f.0.b., and smaller quantities at Is s£d. Mr. Goodfellow said the menace of group buying by London multiple shops had passed for the present season, owing to the keen competition for the limited supply of butter available, and New Zealand had again profited by the misfortunes of her less favoured competitors. The price for Anchor butter had ranged from 178 s to lS6s during the past fortnight, and the average weekly deliveries had amounted to 1.450 tons, as against 864 tons for the previous period. This increase was accounted for mainly by the Christmas demand and the all-round shortage of stocks. The cheese market had been dull, prices ranging from 97s to 104 s for white, and from 99s to 102 s for coloured. The market was slow and there had been no inquiry for forward business. London buyers were offering just under 8d a lb. f.o.b. for forward deliveries. Milk powder and condensed milk sales were maintaining a satisfactory level. Sales of casein were keeping pace with delivery, and the demand oontinued to be active.

DAIRY PRODUCE

. * LONDON PRICES A. H. Turnbull and Company have veceived the following cablegram from W. Weddel and Company, Limited, London, dated December 21:—ButterDanish, 210 s to 2125; New Zealand, unsalted, 196 s to 198 s; salted, 182 s to 186 s: market steady*. Cheese: New Zealand, white, 97s to 98s; coloured, to * 00s; market quiet. Canadian, to 112 s» coloured, 108 s to

LONDON MEAT MARKET

SMITHFIELD PRICES The New Zealand Meat Producers’ Board has received the following cable j ts Lpndon off lce. dated December 21. ad\ising Smithfleld delivered prices averaged for week ending that date as follow: New Zeaiftnd Wethers and Maidens.— Canterbury quality, selected brands, 56ib and under, 6Jd: 571 b to 641 b, 6 3-8 d; 651 b to 121 b, 6 l-8d; other brands, 561 b and 571 b to 641 b, 6 l-8d; 651 bto .iXlb, 6a. % ?*Bd Zealand Ewes - —64lb and under, New Zealand Lambs.—Canterbury <niality, 361 b and under, 9|d; 371 b to 421 b, D£d; 431 b to 501 b, Did seconds, 7 3-8 d; selected brands, 361 b and under, 9£d; 371 b 9 3-8 d other grands, second quality, 301 b to 321 b average, 7Jd. Australian Lambs.—" Victorian, first quality, 361 b and under, S 7-8 d; 371 b to 421 b, 8 7-Bd. Argentine Lambs.—First quality, 361 b and under, 7fd: 371 b to 421 b, 7Jd New Zealand Beef. —Ox fores, not quoted: ox hinds, sd; cow fores, 3£d; ox hinds. 4Jd. Argentine Chilled Beef.—Ox fores, 4£d: ox hinds, 7Jd. New Zealand Frozen Pork.—Porkers, Sllfo to 991 b, 6£d; 1001 b to 1201 b, 6}d: baconers, 1211 b to 1801 b. 7d. New Zealand Frozen Veal.—Usual small demand frozen meat of all descriptions owing to Christmas. Lamb Market.—Quiet —trade slow. Mutton Market. —There is a better tone prevailing on market, with increased prices. New Zealand Porker Pigs.—There has been a better demand with improved prices. New Zealand Baconer Pigs.—Stocks exhausted —nominal prices.

CAMBRIDGE STOCK SALE

LARGE ENTRIES RECEIVED Wo held our Cambridge sale on Friday last instead of on Monday. Our entry for all classes of stock was too large. We quote:—Fat caws, £ 9 to £9 9s; light fat cows, £7 8s to £8 2s: store cows. £3 19s to £5 17s; 15 months heifers, £5 19s to £ 6 Is; store pigs. £1 4s to £1 8s; slips 16s to £l.

LONDON MARKETS

FROZEN MEAT AND WHEAT i United P.A. — Bp Telegraph — Copyright) r«4u»fral4a>» and N.Z. Press Association) LONDON, Saturday. Sheep.—Canterbury, light 6Jd. medium 6 3-Bd, heavy 6*d; North Island light 6ld. medium 6 1-Sd. heavy 6dNew Zealand ewes. 4 5-8 d; Australian firsts. 4 3-8 d; ewes, 4 3-Bd. Lambs.—Canterbury seconds. 7 3-Sd; North Island seconds, 7Jd; Victorian firsts, 8 7-Sd; seconds, 7 7-Sd; Argentine seconds, 6 3-Bd. Frozen Beef.—New Zealand fores are not being offered; Australian crops 4 3-16 d. v ' Chilled Beef.—Argentine fores, 4£d; hinds. 71d; others unchanged. Cotton, Rubber, Hemp, Etc. (Last week’s prices in parentheses.) Cotton.—January delivery, 10.31 d (10.49 d). Rubber.—Para, 10$d <lo}d) a lb; plantation and smoked, 8 9-16 d (S£d). Jute.—December-January shipments. £ 36 10s a ton. Copra.—January-Fobruary shipments. £23 7s 6d; December-January £24 10s a ton. Linseed Oil.— £29 5s (£3O 15s) a ton. Turpentine.—47s 6d (475) a cwt Wheat T} heat ‘ — Car Koes ara firmly, held, sellers are asking an advance of lid. I’areels are inactive. Liverpool futures• December delivery, Ss 11 3-Sd per eer*a<L arCh ’ 93 Ma>< 9S 3id; July '