LONDON MARKETS FIRM

Wairarapa Times-Age, 20 December 1938, Page 3

LONDON MARKETS FIRM

BUTTER AND CHEESE. PRICES FOR NEW ZEALAND. ADVANCE. (By Telegraph—Press Association.) WELLINGTON, This Day.. The price of New Zealand butter in London advanced 4s a cwt last week to Ills, to 112 s on Friday, this price being 2s to 3s below that of a year ago. The market closed firm, according to the cabled report supplied by the Primary Products Marketing Department to the Dairy Board. Friday’s closing quotations, with those of the previous week in parentheses, were as follow: — New Zealand: Salted, Ills to 112 s (107 s to 108 s; a year ago, 114 s); unsalted, 114 s (110 s a year ago, 115 s). Australian: Salted, 109 s (104 s to 106 s); unsalted, Ills to 112 s (106 s to 107 s). Argentine: Unsalted, 102 s to 106 s (96s to 102 s). Danish: 123 s f.0.b.; 144 s to 145 s spot (121 s 143 s to 1445). Dutch: Unsalted, 124 s (118 s Lithuanian: Unsalted, 112 s to 113 s (108 s to 110 s). The retail price of /New Zealand butter in London is Is 2d and that of Danish is generally Is sd‘ a lb. The present price of Ills to 112 s is equal to approximately 13.28 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 equavalent of the guaranteed price is 124 s 3d a cwt. The equivalent price of cheese is about 8d a lb f.0.b., compared with the guaranteed price of 8.42 d. Deliveries of New Zealand butter from store last week were 1796 tons; the quantity in store on Friday wa5,3251 tons, as against 2214 tons a year ago. Deliveries of Australian butter were 2405 tons, the quantity in store being 4048 tons, as compared with 1688 tons a year ago. The cheese market was reported firm on short supplies, New Zealand at 70s a cwt -showing a rise of Is to Is 6d on the week. Friday’s closing quotations, with those of the previous week in parentheses, were as follows: — New Zealand: White, 70s (68s 6d to 695; a year ago, 65s to 65s 6d); coloured, 69s to 70s (695; a year ago, 64s 6d to 655). Australian: White 64s to 66s (64s to 665); coloured, 64s to 67s (64s to 675). Market slow. Canadian: White and coloured, 71s to 72s (71s to 725); old season’s white, 78s to 80s (80s); coloured, 80s (80s). Market quiet. English: Finest farmers’, 86s to 94s (86s to 965). Market steady. Deliveries of New Zealand cheese last week were 12,575 crates, the quantity in store on Friday being 20,205 crates, as against 34,565 crates a year’ ago. Deliveries of Canadian cheese last week were 9699 boxes, the quantity in store being 163,821 boxes, as against 154,398 boxes a year ago.