BUTTER MARKET STEADY

Sun (Auckland), Volume III, Issue 737, 9 August 1929, Page 10

BUTTER MARKET STEADY

AN INTERESTING REVIEW HEAVY STOCKS OF CHEESE An interesting review or the butter and cheese market is given by A. XI. Turnbull and Co. ’in their report of August 7. Prices of New Zealand salted butter have shown very little'change during the P&st five weeks, states the report. on the other hand, Danish has shown a distinct decline of fully 4s a ewt Some heavy selling took place to London buyers early last month, presumably for Canada, but orders were quickly filled and buyers then retired. During- the present week, however, a renewal of f.o.b. selling on a. much smaller scale has taken place, on the basis of Is 4gd a lb, net f.o.b:, which price, however, is jully above present London spot parity. It is difficult to forecast the present trend of the London market, which usually, at this period or the year, shows a fairly rapid rise in spot values. Acting agamsL that, however, is the iarge increase in New Zealand gradings for the past dairy season, the heavy stocks of butter held in the United Kingdom which today amount to some 17,383 tons as against 14,500 tons this time last year. Prices of New Zealand cheese have been slowly declining- throughout the , past month, owing principally to the heavy stocks of both New Zealand and Canadian cneese available, and the fact tnat the Canadian new season is offerills' at low prices, c.i.f.e., London. Messrs >v. ANeddc] and Co., Ltd., cable that best C anadian is now offering at 85s a civ t, c.i.f.e.. United Kingdom, which is naung the effect of making forward buyers nervous, and in consequence, the customary buying... orders which arc usually available nt this period of the year, are not forthcoming, buvers preferring to await arrivals before filling their requirements under the present circumstances. The only Indication of f.o.b. values recc.ved lias been on the basis of Bcl a lb t.0.b., at which price our principals recommend factories to consign the® , bu , t -V r ’ , the stuol “ available in [he tinted Kingdom are very much heavier than iast year, being l.a.suij ciat.es new Zealand and Australian, as against 08,000 last year. Moreover, stocks in .New Zealand at the end of Julv were also greatly ill excess of last year's. AUSTRALIAN PRODUCE SYDXEY, Thursday. ,i Tl Vr following are today’s prices on the fcyoney produce market: _ Wheat.—Steady. Bulk, 5s Sid; bagged us lofd a bushel. Potatoes.—Tasmanian, £l7 to £lB- - letorian, £l7. Onions.—Japanese, £l6 10s: Victorian Spanish. £ls. + Oats—Algerian, 4s Sd; white, 4s Cd to 4s Sd. Maize.—ss 9d. Flour.— £l4. Bran and Pollard.— £S. Adelaide ! prices are:— Wheat.—Growers’ lots. 4s lid to 5« Flour.— £l2 15s. Bran.— £6 17s 6d. Pollard,—£7 10s. Oats. —3s 6d. Reed. 10.20 a.m. MELBOURNE, Todav. Wheat.—ss Gd. Flour.— £l2 5s to £l2 10s. Bran.— £7 10s. Pollard.— £7 15s. „ Oats.—4s 2d to 4s 4d. Barley.—English, 4s 3d. Maize.—us 9d. WHEAT, FLOUR AND PULSE (Australian and X Z. .Press Association) Reed. 10.20 a.m. LONDON, Thursday. Wheat.—Cargoes are neglected. In parcels, there is a small inquiry for winters at Is advance. Futures:—London: August. October and November, 55/OS; January. 55 '6-j. Liverpool: October. 9, 10 1-8; December. 10 1 3-8; March, 10 5 1-S. The spot trade is slow. Australian, exships. 54s 6d. Flour is weaker in tendency—Australian. ex-store. 3Ss' 3d. Oats are dull—Australian, Algerian, 25s to 263: Cartons. 27s to 2ss. Peas are slow —Blue New Zealand, 300 s to 3205. Maples. New Zealand. 60s to 60s. New Zealand beans, 52s to sis.