DAIRY PRODUCE

Wairarapa Times-Age, 22 November 1938, Page 3

DAIRY PRODUCE

LONDON QUOTATIONS FALL IN PRICE OF BUTTER There was a further fall in the price of New Zealand butter in London last week. On Friday the quotation was 106 s a cwt, compared with 109 s to 110 s a week before. According to the cabled report received by the Primary Products Marketing Department the market was quiet, with an improved demand at the end of the week. A year ago the price of New Zealand salted butter was 122 s a cwt. The present price of 106 s is equal to approximately 12.58 d a lb f.o.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 7.74 d a lb f.0.b., compared with the guaranteed price of 8.42 d. Friday’s closing quotations in London with those of the previous week in parentheses, were as follows: — New Zealand: Salted, 106 s (109 s a year ago, 120 s to 112 s); unsalted, 108 s to 110 s CHOs to 112 s).

Australian, Salted, 100 s (104 s to 105 s); unsalted, 102 s, 103 s to 104 s (106 s Market quiet. Argentine: Unsalted, 965. Danish: 115 s f.0.b.; 136 s to 137 s spot (115 s 136 s to 1375). Market quiet. Dutch: Unsalted, 105 s to 106 s; ex Ills (108 s Market steady. Retail prices were unchanged, New Zealand at Is 2d and Danish at Is 4d. a lb. Deliveries of New Zealand butter from store last week totalled 1205 tons. The quantity in store, including 84 tons ex Port Hunter, was 4971 tons, as against 4338 tons a year ago. Deliveries of Australian butter from store last week were 1241 tons. The quantity in store was 3561 tons, as against 915 tons a year ago. The cheese market was reported as steady at the .end of the week, New Zealand white and coloured being quoted at 68s, a drop of Is a cwt. Friday’s closing quotations, with those of the previous week in parentheses, were as follows:—

. New Zealand: White, 68s (695; a year ago, 71s to 71s 6d); coloured, 68s to 68s 6d (695; a year ago, 70s to 70s 6d). Australian: White and coloured, 63s 65s to 66s (65s to 675). Market quiet. Canadian: White and coloured, 71s to 72s (72s to 735); old season’s white and coloured, 80s (80s). Market steady. English: Finest farmers’, 86s to 92s (86s to 925); factory cheese, 66s (665). Deliveries of New Zealand cheese from store last week were 11,310 crates. The quantity in store was 45,825 crates, as against 44,547 crates a year ago.