TRADE IN BUTTER

Manawatu Standard, Volume LIII, Issue 313, 1 December 1933, Page 8

TRADE IN BUTTER

THE LONDON MARKET. PURCHASERS""HOLD BACK. (United Press Association —By Electric Telegraph—Copyright.) Received December 1. 1.5 p.m. LONDON, Nov. 30. The panic among the weak traders responsible for the flood of butter sales at Tooley Street emphasises that 'nobody has the slightest confidence in the future. It is pointed out that butter fell to the low levels of last winter when shipments were lighter than at present. The slightly increased demand fails to balance the heavy arrivals. . Multiple stores and co-operative mass caterers, who are among the largest purchasers, are holding off in the expectation of even lower prices. * The importers, on the contrary, are anxious to clear their stocks immediately to make room for further heavy consignments. The firm of Grillanders say they are unable to raise the price, it is up to Australia to regulate her shipments for which Tooley Street would be delighted if the Australian Export Board’s meeting on December 5 is successful. The market view, however, is that the chances of Australian and New Zealand co-operation arc most slender in view of New Zealand’s declaration that she is unable to restrict her shipments. • • Danish butter continues to command a heavy premium owing to the persistent North of England preference therefor.