NEW ZEALAND BUTTER

Waikato Times, Volume 122, Issue 20510, 28 May 1938, Page 4

NEW ZEALAND BUTTER

MARKED DECLINE IN PRICEB LATEST LONDON QUOTATIONS WELLINGTON, Saturday Advices from London state that butter has shown a further marked decline during the past week. Choicest salted New Zealand is quoted at 125 s per cwt., a drop of 4s on last week’s prices. Australian butter has declined by 4s 6d, and Danish is around 3s 6d per cwt. lower. The easier tendency in the market commenced following the announcement in London of an increase of 160.000 boxes in stocks. Cheese also is reported to be quiet. New Zealand white has eased over tli e week, but prices for coloured show a slight advance. Quotations for Australian cheese are practically unchanged. 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 12as 8d for butter, and 70s 4sd 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 to 14.94 d, New Zealand ports. The equivalent price for cheese is around 7.94 d per lb., f.0.b., compared with the guaranteed price of 7.54 d.

May 27 May 20 May 28 Butter: 1938 1938 1937 TS'ew Zealand .. 125/- 1 29/- 108/Australlan 122/- 126/6 106/6 Danish 124/- 127/6 112/6 Cheese—IS'.Z.: White 70/- 71/3 74/Coloured 70/- 68/3 74/Canadian: White 77/6 77/6 77/Coloured 78/- 78/- 77/-