High Butter Market

Manawatu Times, Volume 60, Issue 231, 1 October 1935, Page 7

High Butter Market

Strong Position in Britain

TRADERS “BULLISH” IDEAS

United Press Association.—By Electric lelesrraph.—Copyright.

LONDON, Sopt. 28,

The butter market continues to improve. Prices have reached the highest level since 1931.

This is largely duo to the strength of the statistical position, for not only aro the qualities alioat from Australia and New Zealand 110,000 boxes less than ut this time in 1934, but-gradings of both Australian and New Zealand aro considerably lower.

British supplies from Denmark will soon be considerably reduced, because Germany has just increased its imports of Danish butter by 4000 casks weekly, and Argentine shipments are not yet coming owing to the unfavourable weather.

Russia a Strong ractor Russia is again taking an important position in the butter trade. Last year British imports of Russian butter were lower at 25,421 tons, compared with 32,061 tons for the previous year. This was not on account of decreased production, but because of larger supplies required for homo consumption. AVeddel and Company's annual'report says tho •‘improvement effected in the quality and packing of Russian butter iu recent years is most striking, as hygienic methods now govern bho manufacture at 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 arc now enabled to purchase with confidence on brand alone." It is estimated that arrivals of butter of ail kinds during tho next two months did not exceed 7000 tons a week, and British consumption is over 0000 tons, so a further reduction in cold stored stocks, which had fallen on September I-i to 21,774 tons, may be expected. This holding shows a decrcaso of 770 S tons compared with that of a ■month earlier, and 21,059 tons compared with the holding of a year ago. In this state of affairs traders have decidedly “bullish" ideas about the future. LONDON PRICES Joseph Nathan and Co., Ltd., have received from their principals, Trengrouse and Nathan, Ltd., Loudon, the following cabled advice, dated September 28: —New Zealand butter: Finest, 110 s per cwt; iirst grade, 113 to 114 s. New Zealand cheese: 5Ss Gd,