DAIRY PRODUCE

Wairarapa Times-Age, 30 May 1939, Page 3

DAIRY PRODUCE

LONDON QUOTATIONS BUTTER MARKET RECOVERS. IMPROVEMENT IN CHEESE PRICES A good demand at improving prices throughout last week caused a recovery of from 3/- to 5/- a cwt. in the quotation for New Zealand salted butter. The latest price of 108/- to 110/a cwt. is still, however. 15/- to 16/- below the level of a year ago. Danish butter dropped 4/- a cwt. last week, but the market was steadier at the close. ’ 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 follows: — New Zealand, salted, 108/- to 110/(105/-; a year ago, 124/- to 125/-); unsalted, 110/- to 111/- (108/- to 109/-; a year ago, 127/- to 128/-). Australian, salted, 107/- to 108/(103/- to 104/-); unsalted, 108/- to 110/- (106/- to 107/-). Danish, 98/-, f.0.b.; 119/- to 120/spot (102/-; 123/- to 124/-). Dutch, unsalted, 102/- to 104/- (98/to 100/--); salted, 104 A-. Lithuanian, unsalted, 103/.- to 106/(102/-). Polish, salted and unsalted, 101/- to 102/- (98/- to 101/-). The retail price of New Zealand butter was unchanged at 1/1 a lb., as was that of Danish at 1/3. The present price of 108/- to 110/- is equal to approximately 12.97 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 guaranted price is 124/3 a cwt. The equivalent price of cheese is about 5.4 d a lb., f.0.b., compared with the guaranteed price of 8.42 d. Deliveries of New Zealand butter from store last week increased- to 2701 tons. The quantity in store on Friday, including 323 tons ex Waimarama, was 7149 tons, as against 5036 tons a year ago. Deliveries of Australian butter last week were 1050 tons, the quantity in store being 2110 tons, as against 4921 tons a year .ago.

The Imperial Economic Committee’s estimate of the stocks of all butters in store is 738,050 boxes, compared with 899,709 boxes a year ago. There was a slight improvement in cheese last week. Friday’s closing quotations, with those of the previous week in parentheses, were as follows: New Zealand: White, 50/-, 51/- up to 51/6 (49/- to 50/-; a year ago, 70/-); coloured, 50/- to 51/-, up to 52/- (49/to 50/-; a year ago, 70/-). Australian: White and coloured, 47/to 49/- (46/- to 48/-). Canadian: White, 71/- to 73/- (70/- to 72/-); c.i.f., 51/-. English: Finest farmers’, 90/- to 100/(90/- to 100/-). The general retail price of New Zealand cheese is 6d a lb. Deliveries of New Zealand cheese last week were 29,434 crates, the quantity in store, including 3940 crates ex Waimarama, being 97,808 crates, as against 64,708 crates a year ago. Deliveries of Canadian cheese were 4692 boxes, the quantity in store being 77,261 boxes, as against 67,458 boxes a year ago. Cheese gradings in New Zealand for the week ended May 19 were 8743 crates of white and 3165 crates of coloured, a total of 11,908 crates.