THE BUTTER MARKET

Evening Post, Volume 65, Issue 65, 17 March 1924, Page 6

THE BUTTER MARKET

EXTRAORDINARY POSITION

DANISH LEADS DOMINION BY 40s.

(UNITED PRESS ASSOCIATIOX.—COPIBIGBT.) '■' ' (AUSTRALIAN-NEW ZEALAND CABLE ASSOCIATION.) (Received 17th March, 8 a.m.) ■ LONDON, 15th March. i The position of the butter market is an extraordinary one, one described by a leading importer as never previously experienced in the history of the trade, for Danish is firm at 2125, while New Zealand is weak at 40s less, while the difference in the intrinsic values of these butters is probably not more than about 2s, and it seems incomprehensible that there should be this great difference in selling prices. The demand for Danish here is limited owing to its dearnoss, but the Danes are able to maintain the high price owing to extensive buying by Germany, other Continental countries, and 'the United States. Australian butter is 10s to 12s below New Zealand, and quotations for' it am largely nominal at 154s and 160s. The cause of the poor demand is quite understandable, for supplies of Australian have been very light till recently, and with big quantities coming towards tho end of the season, it is only natural that buyers will not leave the butters they have.been using and take Australian, unless they get it at sacrifice prices. Retailers hava lowered their price for New Zealand to -Is 8d and Is lOd per lb, and it is hoped that the reduction will stimulate the demand. So far it has had little effect.