DAIRY PRODUCE

Wairarapa Times-Age, 15 November 1938, Page 3

DAIRY PRODUCE

LONDON QUOTATIONS. FALL IN BUTTER PRICES. A further fall in the price of New Zealand butter in London occurred last week. Friday’s quotation of 109 s to 110 s a cwt showing a decrease of 4s Gd since November 4. According to the cabled report supplied by the Primary Products Marketing Department to the Dairy Board, the market was steadier at the end of the week.

The price at this time last year was 138 s a cwt, when the market was beginning to decline after reaching a season peak the week before of 152 s a cwt. The price of butter is now more than ljd a lb below the guaranteed level.

The present price of 109 s 6d is equal to approximately 13.05 d a lb, f.0.b., New Zealand ports, compared with the guaranteed price of 14.89 d a lb, f.o.b. The London equivalent of the guaranteed price is 124 s 3d a cwt. The equivalent price of cheese is about 7.87 d a lb, f.0.b., compared with the guaranteed price of 8.42 d. Friday’s closing quotations, with those of the previous week in parentheses, were as follows: — New Zealand: Salted, 109 s, ex 110 s (114 s a year ago, 136 s to 138 s); unsalted, 110 s to 112 s (114 s to 116 s). Australian: Salted, 104 s to 105 s (109 s to 110 s); uhsalted, 106 s (110 s to Ills).

Danish: 115 s f.0.b.; 136 s to 137 s spo' (114 s 135 s to 1365). The retail price of New Zealand butter is unchanged at Is 2d, and that oi Danish is Is 4d a lb.

The Imperial Economic Committee’s estimate of the stocks of all butter in store is 929,671 boxes, as against 401,584 boxes a year ago. The cheese market was quiet last week, New Zealand white and coloured being quoted at 695, a fall of Is. Friday’s closing quotations, with those of the previous week in parentheses, were as follows: — New Zealand: White and coloured, 69s (70s; a year ago, white 735, coloured 725).

Canadian: White and coloured, 72s to 73s (72s to 735), old season’s white, 80s (80s); English finest farmers’, 86s to 92s (86s to 925), factory cheese, 66s (665). Deliveries of New Zealand cheese last week were 10,586 crates. The quantity in store, including 16,530 crates ex Napier Star, was 45,229 crates, as against 47,391 crates a year ago.