STAGNANT

Hawera Star, Volume XLVIII, 19 January 1925, Page 5

STAGNANT

BUTTER MARKET. CONDITIONS AT HOME. PUSHING AUSTRALIAN MAKES. BY CABLE—PBESS ASSOCIATION—COPY BIGHT Received Jan. 19, 9.10 a.m. LONDON, Jan. 17. Reference to the dairy produce market was made in the weekly review of market conditions m London, as under : The butter market is stagnant, despite heavy reduction in prices, buyers maintaining their- policy of abstention, in the hope of forcing the market still lower. In the meantime some retailers are putting down prices. Excellent butter is now obtainable at 22d. per Lb. It is hoped that this will stimulate consumption, but lower prices are not vet general. A feature is that the price of Australian butter; is only four shillings below that of New Zealand, and the Australian article is being well pushed, one store sticking placards on its motor vans; “Butter down. New South Wales Is Sd per lb.” LATEST REPORTS. A cable message received by Mr G. H. Buckeridge (H. A. Lane and Co., Ltd., London), reads as follows: — “New Zealand cheese, 92s to 945: market quiet,. New Zealand butter, 156 s to 160 s; market depressed on account of heavy shipments . from New Zealand and Australia.” It will be of interest to record that last year at the same date the prices were; Cheese, 102 sto 106 s; butter, 208 s to 2125, with a• steady demand. This will show the contrast in the position, which' is very much worse this year. UNFAVOURABLE REPORT. , LONDON QUOTATIONS. LONDON. Jan. 16. ; The butter market is ' demoralised; buyers abstaining. Quotations a-re nominal. New Zealand choicest is quoted at 156 s to 160 s; Australian about 152 s to ,154 s ; and Danish 188 s and tending weaker. The cheese market is quiet. New Zealand is quoted a 945. The latest quotations are equivalent to Is 3d a pound f.o.b. for butter and 8.38 d a pound f.o.b. for cheese, the butter-fat prices being approximately Is 2.70 d a pound for butter and Is 7.04 d a pound for cheese of SeptemberOctober make, and is Is 6.37 d for December make.