THE BUTTER MARKET.

Auckland Star, Volume LVII, Issue 208, 2 September 1926, Page 4

THE BUTTER MARKET.

A FURTHER DROP. t SIX SHILLIXO I'KP, CUT. Eince comment, whs made in these columns yesterday upon the condition of our export butter trade, advice has been received by Dnljrety and Co. of a further drop of R/ per cwt. The latest quotations forwarded by the High Commissioner's Office, dated London. Aupist 2S, showed the value of New Zealand salted buttct as being from 108/ to 172/. with 174/ for extra EuperGur. Messrs. Dalgety"a cable, ■which was dated London. August HI, puts the value .-it 164/' to 100. . and adds that the market kee;i = wenk. This latest ne-ws is v>ry disquieting. Usually at this season there is an upward trend, but many factors exist which, in combination, have, created a situation entirely in buyers' favour. These may be enumerated as follow: Thr coal strike reducing consumption, prolongation of "the season's production in the northern lemispbere. increased duty by Germany ' diverting further Danish supplies to [England, stored stocks and prospects of a good season in New Zealand and Australia, with every probability of greatly increased exports from the latter counjtry checking speculation. On these latest advices New Zealand butter is worth 4Jd per lb less in London than it waa at this time last year, approximately 20 per cent. It will be seen from the foregoing thai there is ample explanation for the weakness of the market without laying a>,«y portion of the cause at the door of the New Zealand Dairy Control Board. At the same time it is obvious that circumstances have played entirely into the jhande of those Tooley Street importers •who may wish to embarrass the board in ite administration of compulsory (control.