BUTTER MARKET

Evening Post, Volume CXXVI, Issue 45, 22 August 1938, Page 12

BUTTER MARKET

LACK OF DEMAND

CONSUMPTION SLOWS DOWN

(By Telegraph—Press Assn.—Copyright.)

(Received August 22, 9.30 a.m.) ' LONDON, August 21. There is almost a complete lack of inquiry for butter, but some attempt is being made to maintain the price of New Zealand. Autralian butter, however, has further declined, and the margin between the prices of the two is too great to be maintained. Weakness is further accentuated by unexpectedly heavy supplies of Continental butters, which are selling at around 108s per cwt. . ' ' • , Canada is also an anxious seller, although buyers are not greatly interested especially as retailers continue to report that consumption of butter during the past two months is 5 to 6 per cent, below that of last year. STOCKS AND IMPORTS. The New Zealand Marketing Department advised the Dairy Board last week that stocks of butter in Canada at August 1 amounted to 22,357 tons, compared with 17,857 tons at the same date of last year. Increased stocks were also shown by the United States at August 1, being 77,011 tons, against 55,357 tons at August 1, 1937. The stock position in London and the provincial stores of all butters at August 1 showed 36,357 tons, against 25,765 tons at August 1, 1937. Export stocks of butter in New Zealand and butter afloat at the same date totalled 16,686 tons, against 23,795 tons at August 1, 1937. British imports of butter for seven months ended July last year were 296,080 tons (including 87,090 tons New Zealand and 54,766 tons Australian), compared with a total of 288,101 tons for the corresponding period of 1937. Increases for the 1938 period were shown by Australia, Denmark, Finland, Sweden, Estonia, Latvia, Lithuania, and other foreign countries (10,513, against 4271 for seven months of 1937). Decreases were shown by New Zealand, Eire, Netherlands, and Argentina.