DAIRY PRODUCE

Wairarapa Times-Age, 14 June 1938, Page 3

DAIRY PRODUCE

LONDON QUOTATIONS BUTTER MARKET SLOW According to the cabled report received by the Primary Products Marketing Department, the London butter market was slow last week. New Zealand salted was quoted at 120 s to 121 s, a decline of 2s a cwt. on the week. Friday’s closing quotations, with those of the previous week in parentheses, were as follows: — New Zealand: Salted, 120 s to 121 s (122 s to 1235; a year ago, 109 s to 110 s); unsalted, 123 s to 124 s (124 s to 1255; a year ago, 110 s to 112 s). Australian: Salted, 117 s to 118 s (119 s to 120 s); unsaltod, 121 s (1225). Danish, 102 s to 103 s f.0.b.; 123 s to 124 s spot (103 s 123 s to 1245). The retail price of New Zealand and Danish butter has been reduced to Is 3d a lb. Deliveries of New Zealand butter last week were only 748 tons. The quantity in store, including 978 tons ex Port Chalmers, Mamari and Mahana, was 3407 tons, as against 6363 tons a year ago. Deliveries of Australian butter last week totalled 2058 tons, the quantity in store being 4988 tons, as against 6488 tons a year ago. The Imperial Economic Committee’s estimate of the stock of all butter in store is 934,141 boxes, as against 785,396 boxes a year age. The basic rates fixed under the New Zealand guaranteed price scheme, subject to quality differentials, are 123 s 8d for butter and 10s 4|d for cheese per cwt., f.0.b., New Zealand currency. The equivalent landed price for• butter in London is 112 s and for cheese 675. The guaranteed price for butter is equal to 13.25 d per lb., f.0.b., and the current London quotation is equal to 14.43 d„ New Zealand ports. The equivalent price for cheese is around 7.78 d per lb, f.0.b., compared with the guaranteed price of 7.54 d. The cheese market was quiet, New Zealand being quoted at Is lower. Friday’s closing prices, with those of the previous week in parentheses, were as follows:— New Zealand: White and coloured, 68s 6d; ex 69s (69s 6d to 70s; a year ago, white 745, coloured 73s 6d to 745). Canadian: White and coloured, 78s to 80s (78s to 80s).

English factory cheese, 68s to 69s (68s to 70s).