UP TO 1207/-

Waikato Times, Volume 121, Issue 20266, 7 August 1937, Page 9

UP TO 1207/-

NEW ZEALAND BUTTER. HIGHEST PRICE THIS YEAR. LATEST LONDON QUOTATIONS. (By Telegraph.—Press Association.) AUCKLAND, Saturday. Advioes from London state that a new record price for this year has been established by New Zealand butter. Choicest salted Is quoted at up to 120 s per cwt., on a firm market, and values are approaoliing the peak level of 122 s per cwt. established' in August, 1936. The latest London quotation represents a rise of about Is per cwt. over the past week. The value of Danish butter, on the other hand, has dropped by 4s per owt., and its premium over the New Zealand product is praotically negligible. The present rate is almost 2d per lb., f.0.b., above the guaranteed prfee. Cheese has eased slightly In value, although levels are still considerably in advance of those a year ago. White is selling at a drop of about 9d on the week, while coloured is about 6o lower. The basio rates ffxed under the guaranteed price soheme, subjeot to quality differentials, are 117 s 3d for butter and 63s 7d for cheese per cwt. f.0.b., New Zealand currency. The equivalent landed prices in London are approximately 10'5s to 106 s for butter and 60s 6d for cheese. The guaranteed price for butter is equal to 12.5654- per lb., f.0.b., and the current London quotation is equivalent to approximately 14.30 d per lb. f.0.b., New Zealand ports. A Comparison. The following table compares the mean dosing prices on the London market for the past two’weeks, and a year ago:—

Aug. 6 July 30 Aug. 7 Butter — 1937 1937 1936 New Zealand 119/6 116/6 116/Australian 118/117/6 116/Danish .... Cheese—(N.Z.: 124/126/6 White 74/3 75/62/9 Coloured Canadian: 71/6 72/61/9 White 73/72/9 64/6 Coloured 72/64/6