PRICE OF BUTTER DOWN

Wanganui Chronicle, Volume 83, Issue 50, 1 March 1939, Page 11

PRICE OF BUTTER DOWN

LONDON MARKET STEADIER AT CLOSE CHEESE ALSO LOWER A decline of 3s to 4s a cwt. last week brought the London quotation for New Zealand butter down to 118 s to 119 s. According to the cabled report supplied by the Primary Products Marketing Department to the Dairy ‘Board the market was steadier at the close. Friday’s closing quotations, with those of the previous week in parentheses, were as follow: New Zealand: Salted, 118 s to 119 s (1225; a year ago, 114 s); unsalted, 122 s to 124 s (124 s to 1255; a year ago, 116 s). Australian: Salted, 115 s to 116 s (118 s to 119 s); unsalted, 116 s to 117 s, ex. 118 s (120 s Argentine: Unsalted, 112 s to 115 s (114 s to 116 s). Danish: 120 s f.0.b., 141 s to 142 s spot (1245; 146 s to 1475). Dutch: Unsalted, 120 s to 124 s (128 s Lithuanian: Unsalted, 123 s to 124 s (125 s to 1265). Polish: 'Baited and unsalted, 115 s (118 s to 119 s). South Africa: 113 s to 114 s. The retail price of New Zealand is Is 3d a lb and that of Danish is expected to be reduced from Is 6d to Is 5d a lb. The present price of 118 s is equal to approximately 14.03 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 guaranteed price is 124 s 3d a cwt. The equivalent price of cheese is about 7.35 d a lb f.0.b., compared with the guaranteed price of 8.42 d. Deliveries of New Zealand butter from store last week were 1552 tons. The quantity in store on Friday was 5059 tons, compared with 3804 tons a year ago. Deliveries of Australian butter last week were 2337 tons, the quantity in store being 5283 tons, as against 1784 tons a year ago. The cheese market was slow last week, the price of New Zealand at 64s 6d to 655, showing a decline of Is to Is 6d a cwt. Friday’s closing quotations, with those of the previous week in parentheses, were as follow: New Zealand: White, 64s 6d, ex. 65s (665; a year ago, 66s 6d to 675); coloured, 64s 6d to 65s (66s to 66s 6d; a year ago, 67s 6d). Australian: White, 58s to 61s (60s to 625); coloured, 62s to 64s (63s to 655). Canadian: White and coloured, 72s to 74s (725). Old season’s white, 80s to 82s. Market steady. English finest farmers, 86s to 96s (quiet), (86s to 965). Deliveries of New Zealand cheese from store last week were 12,456 crates. The quantity in store on Friday, including 1540 crates ex Rangit.ane, was 60,543 crates, as against 61,661. crates a year ago. Deliveries of Canadian cheese last week were 4633 boxes, the quantity In store being 110,007 boxes, as against 95,133 box-es a year ago.