BUTTER MARKET

Manawatu Standard, Volume L, Issue 115, 11 April 1930, Page 8

BUTTER MARKET

PRICE LEVELS. “A TURN MUST COME.” (By Telegraph.—Special to Standard.) AUCKLAND, April 11. . New Zealand butter is quoted m London at 120 sto 1225, the lowest price for nine seasons, according to advice received by . Auckland merNot since the end of 1921, when prices fell temporarily below 120 s, nas the level been so low. . Graphs tracing the price levels during the past three seasons show that the lowest level touched in 1920-27 was 1445, and in 1927-28 1545, and in 192829 it was 1635. The last-named price ruled during the first week of April, which is approximately a year ago, but there was subsequently a steady improvement to 173 s at the end of the season in June. An anticipation that the shipments now leaving the Dominion will realise 150 s was made by a representative of one of the Auckland produce firms to-day. “The present state of the market in London is a mystery,” he said. “Nobody ever anticipated anything of the sort. Everyone for the last three weeks has been expecting a turn upward. It seems quite evident that there is an over supply of butter, because the low prices have caused no reduction of stocks. A turn must come, because the prices now ruling are even lower than the pre-war rates.” LONDON PRICES. Received April 11, 11 a.m. LONDON, April 10. There is a better demand for butter at the lower level. Some’ shops are retailing New Zealand supplies at Is 2d per lb. Danish, 1365; choicest salted, New Zealand 134 s to 138 s; Australian, 122 s to 1245. The cheese market is - dull. New Zealand, 71s to 735; Australian, about 70s.