Trade in Butter

Manawatu Times, Volume 64, Issue 172, 24 July 1939, Page 3

Trade in Butter

AMERICAN STOCKS REDUCED LONDON, July 3. Trade for box butter improved considerably at the end of May and quotations advanced during June, except for a slight check in the middle of fte month. Quotations for cask butter were well maintained. Prices for box butter remained below last year's corresponding figures, while those for cask butter were at about the level of a year ago. The Imperial Economic Committee says in its Weekly Dairy Notes that exceptionally heavy quantities of butter were received from Australia and New Zealand during June, the total amounting to 917,896 boxes, as against 645,600 boxes in May and 582,900 boxes in June last year. Prospective arrivals from these sources during July are estimated at 508,200 boxes, a£ compared with last year's figure of 697,400 boxes, but in the two following months arrivals will probably be greater than a year earlier. Output in New Zealand declined further and remains at a very low level, but litfle change from Australia, where the end of the season is approaching with production far above the usual level. Argentine Decline Arrivals of Argentine butter during June amounted to only_37oo boxes, as against 30,500 boxes in the preceding month and 43,700 boxes in June last year, while arrivals from South Africa also were lighter than a year ago only 12,800 boxes being received, as compared with 14,800 boxes last year. Favourable conditions, however have recently been reported from both countries, and already some 6100 boxes from African ports have been advised for arrival during July, as against a total of 14,600 boxes for the whole month last year. Heavier German Output Output iu European countries generally continued on a fairly large scale during June, production in the aggregate probably being but little below last year's high figures; in Denmark, however, output has remained well

below the level attained last year, while production in the Netherlands may .shortly be affected by the results of unfavourable weather conditions. Production in Germany has continued 011 a heavier scale* than last year and imports during June from the main sources of supply have been lighter than a year earlier. The outlook for crops and pastures in the chief European producting countries, with the exception of the Netherlands's regarded «as well up to average and a continuance of good weather should enable outut to be well maintained in the coming mouths. Production in North America has not been above last year's corresponding figures and excess stocks have latterly been considerably reduced. The output of creamery butter in England and Wales during May was 15 per cent, greater than in May last year, but in the next few months the increase over la>t year’s figures may not be so pronounced.