HIGH BUTTER PRICES

Manawatu Standard, Volume LV, Issue 259, 30 September 1935, Page 7

HIGH BUTTER PRICES

BEST FOR FOUR YEARS. CONTRIBUTORY FACTORS. RUSSIA MORE PROMINENT. (United Press Association—By Electric Telegraph.—Copyright.) Received September 30, 8.5 a.m. LONDON, Sept. 28. .' The butter market continues to improve and prices have reached the highest level since 1931. This is largely due to the strength of the statistical position, for not only are the quantities alioat from Australia and New Zealand 110,000 boxes less than at this time in 1934, but the gradings both of Australian and New Zealand butters are considerably lower. Our supplies from Denmark will soon be considerably reduced, for Germany hae just increased its imports of Danish butter by 4000 casks weekly, and the Argentine shipments are not yet coming owing to unfavourable weather. It is estimated that arrivals of butter of all kinds during the next two months will not exceed 7000 tons a week. Our consumption is over 9000 tons, so we may expect a further reduction in the cold-stored stocks, which had already fallen on September 14 to 21,774 tons, a decrease of 7708 tons as compared with a month earlier and 21,359 as compared with a year ago. In this state of affairs traders have decidedly “bullish” ideas about the future. RUSSIA’S ADVANCE. Russia is again taking an important position in the butter trade. Last year our imports of Russian butter were lower at 25,421 tons as compared with 32,061 tons the previous year, not on account of decreased production, but because of the larger supplies required for home consumption. AVeddel and Company’s annual report says the improvement effected in the quality of packing of Russian butter in recent years is most striking, as hygienic methods now govern the manufacture in all stages. Grading is strictly enforced and carefully checked in London, with the result that Russian butter has gained enormously in popularity amongst butter buyers, who are now enabled to purchase with confidence on the brand alone.