LOWEST FOR 25 YEARS.

Auckland Star, Volume LXIV, Issue 58, 10 March 1933, Page 7

LOWEST FOR 25 YEARS.

RECENT QUOTATIONS. In their monthly circular, dated March 8, Messrs. A. H. Turnbull and Co., New Zealand agents for W. Weddel and Co., London, state, inter alia: "Quotations for New Zealand butter during the past month have reached the lowest level for a period of 25 years and, at the moment, it is difficult to make any forecast as to the immediate future. Heavy shipments are still afloat, both from Australia and New Zealand, whilst Continental countries are preventing the importation of butters by surrounding themselves with high tariff barriers. "Determined efforts have been made to raise prices, but they have been frustrated by the continuance of severe selling pressure, caused by the fact that spot stocks continue to increase. Very cheap forward offers of Australian butter are also preventing any improvement in the spot quotations." Cabling on March 4, Messrs. W. Weddel and Co., stated that the immediate future was very uncertain, but much would depend on the result of conferences to restrict imports. There was quite a fair amount of forward activity at round about 9d and 9Jd at the time that the spot market showed an improvement, about February 25-26, but since then, forward buyers seemed to have withdrawn altogether and very little business was being done. Buyers' ideas of value were round about B|d to 83d per lb, f.o.b. fi