THE BUTTER MARKET

Evening Post, Volume CXXVI, Issue 63, 12 September 1938, Page 12

THE BUTTER MARKET

ANXIOUS SELLERS

NO SHORTAGE OF SUPPLIES

I (By Telegraph—Press Assn.—Copyright.) | LONDON, September 10. I The butter market is depressed, with no signs of speculatiye interest. There is little in the statistical position to support optimism, as the total stocks are still 8500 tons above those of August last year, while Australian shipments counter-balance the decline in New Zealand, and Continental production is also good. There is definitely no shortage of butter in sight, especially as shipments of Canadian are likely to increase. The undertone of the market is weak, with holders anxious to sell. The Marketing Department has advised the Dairy Board of the London market position as "slow," at the close of business on Saturday. New Zealand salt butter, 123s to 124s per cwt, compared with 122s to 123s for the week ended September 3. Australian, 119s to 120s, a rise of Is on the week. Danish (spot price), 135s to 1365, against 135s for September 3. Unsalted butters were quoted as follows:—New Zealand, 1245, and extra 1255; Australian, 1205,' extra 121s; Dutch, 112s, extra 114s. Retail prices of New Zealand butter are Is 3d per lb; Danish, Is 4d. The cheese market is reported as "steady." New Zealand white and coloured is unchanged at 73s per cwt; Australian, 68s to 70s. Canadian, white and coloured, 71s to 72s and 78s to 80s, and 79s to 80s for last season's white and coloured respectively. English farmers' cheese, finest, 86s to 88s, and factory cheese, 66s to 68s. New Zealand cheese is still selling retail at 9d per lb.