U.K. BUTTER MARKET
Further Easing Likely
tspeeial Correspmaent LONDON, Feb. 19.
The possibility that the price of New Zealand butter —now 260 s per cwt.—may fall again this week or next cannot be overlooked, according to Tooley Street opinion. The market is reported as “very slow and weak.” This is due to reasons now all too well known: big stocks, heavy supplies and no real improvement in consumption despite low prices. Traders are said not to “like the look” of the market, and fearing it has not yet reached rock bottom, have been buying only on a daily basis.
Continental countries, including France, are still shipping regularly and what is described as “large” supplies are coming from Argentina. The Danes, however, are maintaining their price at around 335 s per cwt, and are still sending less than half the amount of butter released weekly by the New Zealand Dairy Products Marketing Commission—about 1400 tons weekly compared with about 3000 tons weekly.
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Bibliographic details
Press, Volume C, Issue 29444, 21 February 1961, Page 19
Word Count
161U.K. BUTTER MARKET Press, Volume C, Issue 29444, 21 February 1961, Page 19
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