NEW ZEALAND BUTTER IN LONDON.

Hawera & Normanby Star, Volume LXXI, Issue LXII, 18 June 1912, Page 8

NEW ZEALAND BUTTER IN LONDON.

A correspondent, writing on April 26, says that a fortnight earlier holders were asking 116s for choicest Australian and 120s for New Zealand; on April 26 the extreme prices were, respectively, 106s and 108s. Then (he added) this drop in the nominal quotation of 10s to 12s does not show all the change that has taken place, for good Australian butter has been sold this week at 100s, and one of the most powerful buyers on the market announces his intention of buying at 98s, or not at all. The market, which weakened at the start of the coal strike, has now gone to pieces entirely. An absence of demand for both Australian and New Zealand butter is the cause of all this: this slackness has been coming about for some time, but last week and this it is acute. The cold stores in the Tooiey street neighborhood are getting full of "colonial" butter, and in them and on the wharves there are about 100.000 boxes. Some Australian that was put in last January (when the price was 1365) by people who expected 140s the fo^owing week (an expectation that was not realised) is still there. There is a fairly large quantity of Australian butter to arrive in May, bought at high rates, and brokers look for lower prices then. New Zealand butter is exceedingly dull. Danish is quoted this week-end at 119s.