NEW ZEALAND BUTTER

Waikato Times, Volume 122, Issue 20504, 21 May 1938, Page 24 (Supplement)

NEW ZEALAND BUTTER

A FALL IN PRICES LATEST LONDON QUOTATIONS AUCKLAND, Saturday Advices from London show that, following a mid-week decline of 2s per cwt., prices for New Zealand butter have again receded. Choicest salted is quoted at 129 s per cwt., the current quotation representing a drop of 5s per cwt. on the week. Australian has shown a decline of 5s 6d on the week, while Danish is 2s Gd lower at 127 s 6d. New Zealand unsalted butters continue to command a premium qf from Is to 2s per cwt. on salted. The New Zealand product also enjoys a premium on Danish of approximately Is Gd per cwt. Recent quotations and those of a year ago are as follows:

The basic rates fixed under the New Zealand guaranteed price scheme, subject to quality differentials, are 123 s 8d for 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.o-b., and the current London quotation is equal to 15.45 d, New Zealand j ports. The equivalent price for j cheese is around 8.09 d per lb., f.0.b., compared with the guaranteed price of 7.54 d.

May 20 May 13 May 21 Butter— 1 938 1938 1937 yew Zealand .. 129/- 1 34/- 109/Australlan .... 126/6 1 32/- 108/Dantsh 127/6 130/- 108/Cheese—N.Z.: White 71/3 70/- 73/- » Coloured .... 68/3 70/6 72/Canadians: White 77/6 77/6 77/Coloured 78/- 77/6 77/-