DAIRY PRODUCE

Wairarapa Times-Age, 17 January 1939, Page 3

DAIRY PRODUCE

LONDON QUOTATIONS. ADVANCE IN PRICE OF BUTTER. The price of Now Zealand finest salted butter in London advanced last week to 123 s to 1245, a gain of 7s a cwt since January 6. The market is now Ils to 12s a cwt above the level of a year ago, the higher prices being largely due to decreased Australian production. The present quotation is the closest to the guaranteed price equivalent of 124 s 3d a cwt. since the price was announced in September. The present price of 123 s is equal to approximately 14.74 d a lb f.o.b. New Zealand ports, compared with the guaranteed price of 14.89 d a lb f.o.b. The Londton equivalent of the guaranteed price is 124 s 3d a cwt. The equivalent price of cheese is about 8d a lb f.0.b., I compared with the guaranteed price of 8.42 d.

The market was firm at the close after a good demand at advancing prices, says the report supplied by the Primary Products Marketing Department through the Dairy Board. Friday’s closing quotations, with those of the previous week in parentheses, were as follows:—

New Zealand, salted. 123 s to 124 s (116 s to 117 s; a year ago. 112 s); unsalted. 126 s (U9s to 120 s; a year ago, 114 s).

Australian: Salted. 122 s to 123 s (115 s to 116 s); unsalted, 123 s to 124 s (116 s to 117 s).

Argentine, unsalted, 116 s to 118 s (106 s to 112 s).

Danish: 112 s f.0.b.; 114 s to 145 s spot 0 225; 144 s to 1455). Market quiet. Dutch: Unsalted, 1245, ex 127 s (1275). Lithuanian: Unsalted. 120 s (120 s to 1225). South Africa: 118 s to 120 s.

Deliveries of New Zealand butter from store last week were 2230 tons, and of Australian butter 2919 tons. The quantity of New Zealand butter in store on Friday was 4676 tons, as against 3918 tons a year ago. Australian butter in store totalled 5270 tons, compared with 2707 tons a year ago. The market for cheese is steady. Friday’s closing quotations, with those of a year ago in parentheses, were as follows;

New Zealand: White, 70s (69s to 70s; a year ago, 68s to 68s 6d): coloured, 70s (69s to 70s; a year ago. 69s to 69s 6d). Australian: White, 65s to 67s (62s to 645; coloured. 64s to 66s (62s to 655). Canadian: White. 71s to 74s (71s to 735); coloured. 71s to 73s (71s to 735); old season’s white and coloured, 80s (80s).

English: Finest farmers’, 84s to 96s (86s to 965).

English: Factory cheese, 64s to 66s (635).

Deliveries of Now Zealand cheese last week were 12,939 crates. The quantity in store on Friday totalled 50,181 crates as against 45.390 crates a year ago.

Deliveries of Canadian cheese totalled 7295 boxes, the quantity in store being 143.199 boxes, as against 126.484 boxes a year ago.