LONDON BUTTER MARKET

Dominion, Volume 29, Issue 5, 1 October 1935, Page 12

LONDON BUTTER MARKET

Strong Statistical Position

By Telegraph—Press Assn.—Copyright. Loudon, September 28.

The butter market continues to improve. Prices have reached the highest level since 1931. This is largely clue to the strength o£ the statistical position, for not only are the quantities afloat from Australia and New Zealand 110,000 boxes less than at this time in 1934, but gradings of both Australian and New Zealand are considerably lower.

British supplies from Denmark will soon be considerably reduced, because Germany has just increased its imports of Danish butter by 4000 casks Aveekly, and Argentine shipments are not yet coming owing to the unfavourable weather.

Russia is again taking an important position iu the butter trade. Last year British imports of Russian butter were lower at 25,421 tons, compared with 32,061 tons for the previous year This Avas not ou account of decreased production, but because of larger supplies required for home consumption.

Wcddcl and Company’s annual report says the “improvement effected in the quality and packing of Russian butter in recent years is most striking, as hygienic methods now govern the manufacture at all. stages. Grading is strictly enforced and carefully checked in London, with the result, that Russian butter has gained enormously in popularity among butter buyers, who are now enabled to purchase with confidence on brand alone.” It is estimated that arrivals of butter of all kinds during the next two months will not exceed 7000 tons a week, and British consumption is over 9000 ions, so a further reduction in cold stored stocks which bad fallen on September 14 to 21,774 tons may be expected. Thia holding shows a decrease of 7708 tons, compared with that of a month earlier, and 21,359 compared with the holding of a year ago. In this state or affairs traders have decidedly “bullish" ideas about the future. Joseph Nathan and Co.. Ltd., have received from their principals. Trengrouse and Nathan. Ltd., London, the following cabled advice, dated September 28: —New Zealand butter: Finest. 116/-: first. 113/to 114/-. New Zealand cheese. s*:/ ( >.