DAIRY PRODUCE

Wairarapa Times-Age, 27 June 1939, Page 3

DAIRY PRODUCE

LONDON QUOTATIONS BUTTER MARKET RECOVERS. RISE IN CHEESE PRICES. There was a recovery in the London butter market last week, New Zealand choicest salted going up to 118 s to 119 s an advance of from 4s to 5s a cwt on the week. This is the highest price reached since February, but it is still about 6s a cwt below the London equivalent of the guaranteed price. According to the cabled report supplied by the Primary Products Marketing Department, the market was firm and active. Friday’s closing quotations, with those of the previous week in parentheses, were as follows: — New Zealand: Salted, 118 s to 119 s (114 s a year ago, 1245); unsalted, 118 s to 120 s (115 s to 116 s); a year ago, 124 s to 1255). Australian, salted, 113 s to 114 s (Ills to 112 s). Danish, 103 s f.0.b., 124 s to 125 s spot (102 s 123 s to’l24s). Dutch, unsalted and salted, 109 s to 110 s (107 s to 109 s). Irish cream, salted, 117 s (114 s Lithuanian, unsalted, 110 s to 112 s (110 s to 114 s). Polish, salted and unsalted, 105 s to 108 s (106 s to 110 s). South African, 112 s (105 s to 108 s). Retail prices are unchanged, New Zealand at Is 2d and Danish at Is 3d a lb. The present price of 118 s 6d is equal to approximately 14.16 d per lb, f.0.b., New Zealand ports, compared with the guaranteed price of 14.89 d per lb, f.o.b. The London equivalent of the guaranteed price is 124 s 3d per cwt. The equivalent price of cheese is about 7.35 d per lb, f.0.b., compared with the guaranteed price of 8.42 d. Deliveries of New Zealand butter from store last week were 1572 tons. The quantity in store on Friday, including 105 tons ex Port Gisborne, was 6648 tons, compared with 4352 tons a year ago. Deliveries of Australian butter from store were 1734 tons. The quantity in store was 4141 tons, compared with 5182 tons a year ago. The Imperial Economic Committee’s estimate of the stocks of all butter in store is 998,829 boxes, compared with 1,038,004 boxes a year ago. The price of New Zealand cheese also showed a good rise last week, white at 63s to 655, being from 3s 6d to 5s a cwt higher, and coloured at 66s to 67s a cwt, 5s to 6s higher. The cheese market is described by the Primary Products Marketing Department’s cabled report as “firm and active on short supplies. Friday’s closing quotations, with those of the previous week in parentheses, were as follows:—

New Zealand: White, 63s to 65s (59s 6d to 60s; a year ago, 68s 6d to 695); coloured, 66s to 67s (61s; a year ago, 68s 6d to 695). Australian: White, 59s to 61s (56s to 675); coloured, 60s to 62s (57s to 58s). Canadian: White, 71s to 72s (71s to 725); coloured, 71s to 72s (71s to 735); c.i.f., 68s to 70s (625).

The retail price of New Zealand cheese is mostly 7d a lb, but some shops are charging Bd.

Deliveries of New Zealand cheese from store last week were 15,589 crates. The quantity in store, including 11,330 crates ex Port Gisborne, was 114,668 crates, compared with 61,005 crates a year ago. Deliveries of Canadian cheese last week were 3707 boxes, the quantity in store being 73,391 Doxes, compared with 68,715 boxes a year ago. Gradings of cheese in the Dominion for the week ended June 17 totalled 3431 crates, of which 2205 crates were white and 1226 crates coloured.