NEW ZEALAND BUTTER

Waikato Times, Volume 122, Issue 20492, 7 May 1938, Page 10

NEW ZEALAND BUTTER

LONDON MARKET FIRM RISE OF 2s FOR WEEK CHEESE CONTINUES QUIET AUCKLAND, Saturday. Advices from London state that continued firmness is reported for New Zealand butter, with choicest salted quoted at up to 1295. This represents a rise of 2s on the week, the market having recovered from a quiet midweek spell, when the price eased to 128 s. Australian, salted, is selling at 128 s, and Danish has advanced to 1295. The cheese market remains quiet, although New Zealand white and coloured have advanced 6d per cwt. on the week. Quotations for Australian cheese are unchanged. Recent quotations and those of a year ago are as follows; May 6 April 2 9 May 7 Butter— 193 8 1938 1937 N 7. 129/- 127/- 104/Autsartan .. 128/- 127/- 103/Danlsh 128/6 127/- 109/Clieese—N.Z.: White 68/6 68/- 70/3 Coloured 69/- 68/6 70/3 Canadian: White 77/6 77/6 77/Coloured .... 77/6 77/6 77/The basic rates fixed under the New Zealand guaranteed price scheme, subject to quality differentials, are 123 s Btl Cor butter, and 70s 4id for cheese per cwt., f.0.b., New Zealand currency. The equivalent landed price for butter in London is 112 s and for cheese 675. The guaranteed price for butter is equal to 13.25 d per lb., f.0.b., and the current London quotation is equal 15.45 d, New Zealand ports. The equivalent price for cheese is around *•* 4d per lb., f.0.b., compared with the guaranteed price of 7.54 d.