LOW BUTTER PRICES.

Auckland Star, Volume LIX, Issue 23, 28 January 1928, Page 13

LOW BUTTER PRICES.

MARKETING INEFFICIENT?

MR. GOODFEIXOW'S

STATEMENT.

CHEESE VALUES MAINTAINED,

(By Telegraph—Own Correspondent.) HAMILTON, this day,

'The main reason for the low prices ruling in London for New Zealand dairy produce is the excessive selling competition among agents," comments Mr. W. Goodfellow in his monthly statement to suppliers. His review is as follows:— "■Butter in the past month has seen a further decline in London market values from 162/ to 154/ for finest quality. This latter figure is equivalent to approximately 1/2:*f f.0.b., and is in line with the forecast received from Mr. J. B. Wright early in December, when he anticipated 152/ to 156/ during February and March. The present indications are that these figures will prove substantially correct.

'"Despite the decline in production in Auckland Province, the multiple shop companies are to-day big buyers, and a. few men. buying for many thousands of shops all over England, are, during periods of ample supplies, able to force the market clown to bedrock figures," says Mr. Goodfellow. "With weak sellers and organised buying the result cannot be otherwise than a huge annual loss to this country. Unless present unbusinesslike methods of marketing New Zealand produce are improved. New Zealand will continue to obtain very much lower prices than Denmark during the period of heavy arrivals.

"The cheese market has remained at a satisfactory figure throughout the past month. The price gradually increased to 95/ on December 31, but thereafter it gradually receded to 90/ or 91 /. According to Mr. Wright's forecast it is not likely that there will be any appreciable change in cheese prices during the next two or three months."