LONDON PRICES

Waikato Times, Volume 124, Issue 20728, 11 February 1939, Page 13

LONDON PRICES

BUTTER AND CHEESE LONDON QUOTATIONS A decline of l <; per cwt in the price of New Zealand butter has occurred on the London market over the past week, fhe latest priee for choicest sailed being 122 s per cwt,. Unsalted is now quoted from 125 s to 1265, compared with 126 s at the end of last week. The new price for salted is 2s 3d below the guaranteed price equivalent of 124 s 3d per cwt. and is also below the price being given a month ago, 1235, but it is still well above values at the beginning of last year, when, on February 11, a price of Ills 6d was quoted. New Zealand cheese has also declined in value, the latest price being between 66s and 66s 6d per cwt for both white and coloured, compared with 67s last week. Australian white is the same at 62s 6d. and coloured is 64s to 655. compared with 65s per cwt last week. Recent quotations and those of a year ago compared as follows: Feb. 10 Feb. 2 Feb. 1 i 1939 1939 1938 Bntter: New Zealand 1 22/- 123/- 111 /6 Australian 119/- 119/6 111/Cbeese New Zealand: White .. 66/3 67/- 6.8/Cp,loured .. &6/3 67/- 68/6 Australian: White 62/6 6 2/6 6S/9 Coloured .. 64/6 65/- 6-6/6 The present price of 122 s is equal to approximately 14.61 d per lb, f.0.b., New Zealand ports, compared with the guaranteed price of 14.89 d per lb, f.o.b. The London equivalent of the guaranteed price is 124 s 3d per cwt. The equivalent price of cheese is about 7.51 d per lb, f.0.b., compared with the guaranteed price of 8.42 d.