U.K. Butter Market Uncertain

Press, Volume CI, Issue 29766, 8 March 1962, Page 19

U.K. Butter Market Uncertain

The United Kingdom batter market is clouded with uncertainty, according to the monthly bulletin of the New Zealand Dairy Industry Information Service. While it awaits word of the British Government’s intentions the trade has run down its stocks to the barest working level, the buleltin states. A measure of restriction has been placed on dumped supplies during the last five months, but early last week there was still no word ot what would happen after March 31 when the present arrangement ends.

It is considered unthinkable that the United Kingdom Government would allow a flood of dumped butter to destroy the stability of the market from April on. for it is quite clear that if complete freedom to dump was restored, prices would collapse. N.Z. Steady Last week the price of New Zealand butter was unchanged at 285 s per cwt. ex store, but some changes have taken place during the last month in the prices of other

origins. Values of most of the minor origins, including Argentine and Polish, dropped some shillings and at the last report were around 275 s to 280 s, while stored Danish and Dutch butter was being sold at a marked discount on fresh butter from those countries.

Danish fresh last month was around the 300 s mark, with stored around 280 s and

up. Dutch stored butter was around 2705. At retail New Zealand butter was selling this week in the multiple stores at 3s lb and demand was steady. Stocks of butter of all origins at the most recent report amounted to 45,000' tons, which is slightly less than at the same time a year before. United Kingdom production of batter continues at a high rate. In 1081, United Kingdom output rose to a record of 49,000 tons, which compared with 37,000 tons the year before. This year United Kingdom butter production could be even hitler than in 1961.