LONDON BUTTER MARKET.

Auckland Star, Volume LIV, Issue 48, 26 February 1923, Page 6

LONDON BUTTER MARKET.

prices Sim. roan©

LOCAL RATES UXCH£K G ia).

Latest advice from London market lor butter and cheese to L very flrong one, and if present r»t«,' maintained an advance to local suraers is inevitable. Latest advice fr* London quote butter at 210/ and V?, per cwt. and cheese 132/ to lji/ f white, and 134/ to 136/ p«. ot coloured. At these figures cheea, better to manufacture than hotter 'n! present nuntation for butter in £,-7* is equivalent to I/Si per Ib f. o .b. ;„ v°° Zealand, whereas the local whow! quotation for superfine is 1/7} and for first grade 1/7, with 1/e f» second grade. Buyers for ? Auckland are now offering 1/8 » r Tn Wellington the wholesale price ft superfine butter has already w advanced to 1/fl per lb, so that consul in Auckland aro at present being J! plied more cheaply than those m Wei lington.

The cause of the firm tone of thelmttmarket in London is really the taOtt supplies received this season from Aran tine and Australia, both of which na tries suffered severely from dronght ij far as New Zealand is concerned the cotditions liave been most favourable for dairy farmers, as there has been a ptj. nomenal growth of pasture, owing to ttt frequent rains. Indications point to m plies of butter being short in London di£ ing April and May. In the 1920-21 season when New Zealand farmers » ceived 2/6 per lb f.o.b. for butter, thj output was 28.000 tons. This season tie price will average about 1/7 per Ib, bttt the export will probably total 50.000 tons, so that farmers will get considerably bigger cheques.