LONDON BUTTER MARKET.

Hawke's Bay Tribune, Volume I, Issue 52, 11 February 1911, Page 11

LONDON BUTTER MARKET.

‘COMMERCIAL RECORD” REPORT. London. January Ist. ! Everything is on a diminutive | scale this holiday week. Business j did not commence until Wednes- i

i day. and, apart from a few odd-: • ments which have been required j [to complete requisite stocks, buyers! ; have naturally left serious opera- ■ [ tions until next Monday. In| • keeping with the general mood ■ > supplies from Continental sources ! • have been kept strictly within j .carefully judged limits, and fresirj I landed goods have just been clear|ed. although at times the taking ■ prices must have been very unsatisI factory to the owners. All the I while colonial continues to pour ; in ceaselessly and overwhelmingly h to the great detriment of market tone and the position of all concerned ; so that if prices can be 1 maintained in face of such stupendous quantities, something not far ‘ removed from a miracle will have •to happen. Manchester reports dolefully of the situation and presages trouble ahead with prices already far too low in comparison

with shippers’ prices. For instance choice Danish is nominally quoted 115/- to 116/-, Swedish 112/to 114/-, and New Zealand 100/- to 106/-. In Newcastle the arrivals of Danish being strictly moderate a fairly steady range of 114/- to 115/has been maintained, but Finnish at 110/- to 112/- went badly, with a large surplus after all needs were satisfied. There has been a fair clearance of best Scandinavian at Glasgow, with prices 1/- to 2/lower as is the case with all other descriptions, including Colonial, Siberian and Finnish. London has called the value of Danish 115/- to 116/-, with Dutch nominal 114.'- to 116/-, and Colonial 104/- for best New Zealand and 98/- to 100/- for Australian, unsalted ditto 100/- to 102/-, with secondary Australian at 94,'- to 96/-. The Danish committee have further reduced the official quotation another 2 kr., and it now stands at 95, against 106 last year. This means a spot value for next Monday of about 114 - to 115,'-. Siberian is 96/- to 98 - for best, and 90 1 to 94 - secondary. Normandy it, dull and unchanged. Mild 124/to 126 -. salted 120 - to 122/- and secondary 108 z - to 116'-. Without a shadow of doubt it is proving to be a record season of supplies from the Commonwealth, and buyers therefore require to exercise extreme caution in face of such abundance. Arrivals of butter this week from Australia consist of 52,940 boxes in the Orsova, and about 55,600 >oxes from New' Zealand in the

Ruahine, which vessel began to discharge to-day. Cables from Australia advise shipments this week to be 51,000 boxes in the Orvieto, 11,000 in the Cevic, and 878 in the Persic. From New Zealand the Tainui has sailed for London with butter. Last January there arrived in 13 vessels form Australia 237,770 boxes, and in 6 vessels form New Zealand 168,538 boxes, making a total of 406,303 boxes. This January (according to Messrs. W. Weddel and Co.’s report) there are due to arrive from Australia in 15 vessels 286,228 rjoxes. and from New Zealand in 3 vessels 124,400 boxes, making a total of 410,628 boxes.