NEW ZEALAND BUTTER.

Hawera Star, Volume XLV, 8 June 1925, Page 4

NEW ZEALAND BUTTER.

ADVANCE IN PRICES. SIX SHILLINGS LAST WEEK. The marked price in 'the value of New Zealand butter bn the London j market last week—from 164-166 shillings per cent, to L'< lf-172 shillings, with i/4 shillings for extra line,,, is stated to be clue principally to a strike of transport workers, which is curtailing tne exports from Denmark. An Auckland exporter, however, in conversation with a iNew Zealand Herald reportlK .expressed doubt whether the rise cbtiicL be wholly attiibuted. to interruption of Danish supplies. Norriially a better tone in the butter market was revealed in June. May was always the month or lowest prices on the London market. The advept ot J une generally marked a slight improvement which became marked in July. Following that tbe autumn market was the best of the year. it was important to New Zealand producers if it should prove that the advance was not simply the transitory enect of_ strike conditions, but the commencement ox trie seasonal firming There were huge stocKs ot butter 'in store m London, probably over a million boxes, although no satisfactory estimate could be given. These are being held against a rise, but meanwhile "their existence; constituted a menace to the market. If holders could start to reduce stocks at this stage of the season, it:.would help to give a firmer tone and relieve a supply position that was not reassuring.

LOCAL OPINION

This morning Mr G. H. Buckeridge received the following cable from his London firm: “New Zealand cheese market steady, but without animation. New Zealand butter; 1725; market quiet.” _ , . Interviewed with, regard to the rise in the price of butter, Mr Buckeridge drew attention to the recent sales of New Zealand and Australian butter on the Continent. He said that when there was a discrepancy of 40s between the Danish and the New Zealand butter, the Dutch importers, bought the New Zealand article, and found it just as good as their own. Usually the Dutch did not export a great deal of their butter, but when they could buy New Zealand at such a figure they bought it. and sold their own make in England at a higher 'price. ~ . , Proceeding. Mr Buckeridge said that the probability was that the rise in price had been very largely a result ot the strike* in Denmark. As far as the huge stocks of butter he’d in England were concerned, he considered that such constituted a serious ipenace to the butter position.