U.K. BUTTER MARKET
Steady Trading Reported
Supplies of New Zealand butter continue to meet a steady trade at 2905, but expected expansion of consumption has not materialised and stocks are increasing. There is, however, no disposition on the part of holders to lower prices, reports the London office of the Bank of New Zealand. A factor in the situation is home production. This continues to expand and now approximates 1500 tons a week—about four times as great as it was a year ago. The drop in retail trade because of the. high prices of last autumn and winter is reflected in the fact that from January this year the retail intake was only 7260 tons a week as against 8000 tons in July-September. Margarine benefited during the latter half of last year, but it fell during the first quarter of this year, losing more ground than butter. New Zealand cheese has moved steadily at unchanged rates (231 s for white). The price of Australian has dropped 10s, and there is a margin of 20s between that and New Zealand, with some increased business for the former.
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Press, Volume XCIX, Issue 29222, 4 June 1960, Page 16
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186U.K. BUTTER MARKET Press, Volume XCIX, Issue 29222, 4 June 1960, Page 16
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