BUTTER PRICES

King Country Chronicle, Volume XXIX, Issue 4747, 17 September 1935, Page 5

BUTTER PRICES

HIGHER THAN FOR IHANY YEARS MARKET VERY STRONG. (Press Association). London, September 14. The, butter market has developed great strength owing to short supplies and the active demand. Prices have reached a higher level than for many years past. Quotations for Australian and New Zealand are about 32s a cwt. higher than on June 1 and 50s above a year ago. Activity has lessened slightly in the last day or two, but as the statistical position is sound, it is generally expected that prices will be maintained for some time.

The consumptive demand remains strong, and even the advance of the retail price to Is 2d a lb. appears unlikely to affect it. Probably retailers will have to raise the price still further, for what they are selling this week was bought before the big advance took place, and a further increase in the retail price may divert some consumptive demand to margarine, in which case prices may relapse somewhat. The cheese market is also firm with an upward tendency, as supplies are limited and the consumptive demand good. PRICES FIRIH AT 112/- OWT. New Zealand butter is selling in London at Ills and 112 s and cheese at 54s per cwt., according to a cablegram received by Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited, under date September 14. Both markets are quiet but steady. Stocks of New Zealand butter in London at the end of last week totalled 4322 tons, a slight decrease on the previous week. Stocks of Australian, however, were 825 tons (Jess at 2463 tons. New Zealand cheese stocks also improved, being about 17,400 crates lower at 81,726 crates. Retail butter prices have risen by Id per lb. New Zealand is selling at Is Id and Danish at Is 3d.