HOME BUTTER MARKET

Manawatu Times, Volume LIV, Issue 6865, 21 March 1929, Page 3

HOME BUTTER MARKET

DISAPPOINTING PRICES. In its monthly circular to shareholders the Cheltenham Co-op. Dairy Company has the following to say on the London butter market:—“The market during the past month has been most disappointing, especially in view of the general predictions made by Loudon importers at the end of January, such as, ‘we can see no prospect of any break in prices for some time to come.’ ‘Higher prices may be looked for during the next month or so.’ On February 3, the London price for New Zealand butter was 184 s, and on March 3, 1725, to-day’s price is 1665. Danish and other makes have been similarly affected. The drop has been attributed to several factors, but possibly the chief reason is that the consumptive demand was seriously curtailed during the period of high retail prices. The industrial depression in England, owing to the abnormally cold weather, has resulted in heavy margarine sales at cheaper prices, thus adversely affecting the butter market. “Fortunately the stock position is very healthy but the future depends mostly on the European season which at present looks likely to be light.”