BUTTER OUTLOOK CAUSING ANXIETY

Manawatu Times, Volume XLIX, Issue 2310, 1 December 1925, Page 7

BUTTER OUTLOOK CAUSING ANXIETY

A Glutted Market Feared in New Year WHERE IS THE CONTROL BOARD'; [Per Press Association.] WELLINGTON Last Night. The butter market outlook is causing those interested in the trade a good deal of anxiety and the new developments are the direct effect ot the strike of British seamen. No Now Zealand butter is expected to arrive in England between November 22 and December 17, but 1 then the Turakina with 10,147 boxes, the Athenic with 40,275 boxes, the Tainui with 16,652 boxes, the Tongariro with 27,588 boxes and the Dorset with 10.393 boxes will arrive in quick succession, and December supplies will be about normal. In January approximately 14,000 tons of New Zealand butter Will be reaching the terminal market. This is 60 per cent more than was received last January and is equal to about 20 per cent of the total quantity exportable. In addition to this it has been, ascertained that Australian but ter shipments arriving in January will amount to 8000 tons. It can be seen that with this heavy Weight of butter on the market there must be a drop in values Which may easily develop into a serious slump. Already forward buyers are hold, ing off the market preferring to await heavy arrivals before making purchases, When no doubt they will be able to buy more cheaply than is possible at the moment. Everyone is anxious to know what the Dairy Control Board intends doing in the matter as so far the Board has given no indication that it has any schema for dealing with the situation. There does not appear.to be the same anxiety' with respect to cheese notwithstanding that January arrivals are expected to amount to 13,000 tons, It is stated that most of the cheese has been sold and London importers will handle the situation so as to avoid any loss. Cheese prices are expected to be fairly' stcadv next three or four months, not so butter.