A QUIETER MARKET.

Waikato Times, Volume 121, Issue 20272, 14 August 1937, Page 6

A QUIETER MARKET.

NEW ZEALAND BUTTER. PRICES CONTINUE TO DECLINE. AUCKLAND, Saturday. Advices from London state that prices for New Zealand butter continue to decline on a quieter market. Choicest salted is quoted at 116 s per ewt, a drop of Is on the mid-week price and about 3s 6d over the past week. On the other hand, Danish has risen by 4s per cwt. There has been a fairly sharp fall In cheese. White is selling at about 70s 3d per cwt, which is 4s lower than last week’s quotation. Coloured shows a decline of 3s per cwt, to from 68s to 68s 6d per cwt. The basic rates fixed under the guaranteed price scheme, subject to quality differentials, are 117 s 3d for butter and 63s 7d for cheese per cwt 4.0. b., New Zealand currency. The equivalent landed prices in London are approximately lOfs to, 106 s for butter and 60s 6d for cheese. The guaranteed price for butter Is equal to 12.565 d per lb, f.0.b., and the current London quotation is equivalent to approximately 13.79 d per lb, f.0.b., New Zealand ports. The following table compares the mean closing prices on the London market for the past two weeks, and a year ago:—

Butter— 1937 1937 1936 New Zealand .. 116/- 119/6 118/6 Australian .. 115/- 118/- 117/6 Danish .. 124/- 120/- 127/Cheese—N.Z.: White .. 70/3 74/3 67/6 Coloured .. 68/3 71/6 65/6 Canadian: White .. 72/6 73/- 64/6 Coloured . „ 72/- 73/- 64/6