UK. BUTTER MARKET

Press, Volume XCIX, Issue 29153, 14 March 1960, Page 16

UK. BUTTER MARKET

Signs Of Demand Improving

While sales of margarine have been making headway at the expense of butter, there are signs that the demand for butter is improving at the current retail price of 3s 6d for New Zealand, 3s 7d for Danish and down to 3s 2d to blends and straight. Australian, advises the London Office of the Bank of New Zealand in its market review.

During the last five weeks there has been a reduction of some 40s in value. Increased supplies from Denmark have been absorbed, but while there has been a steady trade in New Zealand and Australian it is not keeping pace with supplies. Argentine and Continental descriptions are offering at 15s under the New Zealand price. There are also increased supplies of English make, estimated at 600 tons a week, and with greater milk production they may increase further. There have been supplies from Holland, which has until recently been shipping to West Germany and France on contract. These customers are now showing a desire to resell some of their imported butter, including New Zealand make.

The cheese market is dragging in spite of a fall of about 35s in New Zealand and Australian lately. New Zealand white is quoted at 255 s to 256 s a cwt, with coloured difficult to move at a premium of 10s.