DAIRY PRODUCE

Wairarapa Times-Age, 5 July 1938, Page 3

DAIRY PRODUCE

LONDON QUOTATIONS BUTTER MARKET QUIET The London butter market was quiet last week and prices were easier at the close, says the cabled report supplied by the Primary Products Marketing Department to the Dairy Board. Friday’s closing prices, with those of the previous week in parentheses, were as follows: — New Zealand: Salted, 1235, ex 124 s ■ (1245; a year ago, 108 s 6d to 109 s); unsalted, 124 s to 125 s (124 s to 1255; a year ago 110 s). Australian: Salted, 121 s, ex 122 s (121 s to 1225); unsalted, 122 s to 123 s (1235). Danish, 103 s, f.0.b.; 124 s to 125 s spot (105 s 125 s to 1265). Dutch: Unsalted, 113 s to 114 s, ex 118 s (114 s to 115 s). Polish: Salted, 113 s to 114 s; unsalted, 112 s. Deliveries of New Zealand butter last week were 1329 tons. The quantity in store, including 869 tons ex Port Hunter and Coptic, was 4975 tons, as against 6243 tons a year ago. Deliveries of Australian butter last week were 1028 tons, the quantity in store being 5259 tons, as against 6149 tons a year ago. The cheese market showed little change, Friday’s closing prices, with those of a year ago in parentheses, being as follows: — New Zealand: White and coloured, 68s to 68s 6d (68s 6d to 695; a year ago, white 725, coloured 71s). Australian: White and coloured, 65s to 67s (65s to 67s 6d). Canadian: White and coloured, 78s to 80s (78s to 80s)'; c.i.f., 68s 6d to 69s (67s to 68s). English factory cheese: 65s 6d (665). Deliveries of New Zealand cheese last week were 20,346 crates. The quantity in store, including 10,020 crates ex Port Hunter, was 71,048 crates, as against 62,922 crates a year ago. Deliveries of Canadian cheese last week were 4790 boxes, the quantity in store being 67,472 boxes, as against 59,353 boxes a year ago.

The basic rates- fixed under the New Zealand guaranteed price scheme, subject to quality differentials, are 123 s 8d fbr butter and 70s 4J-d for cheese a cwt., fio.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 tb 13.25 d a lb., f.0.b., and the current London quotation is equal to 14.68 d, New Zealand ports. The equivalent price for cheese is around’ 7.75 d a lb, fio.b., compared with the guaranteed price of 7.54 d.