N.Z. Butter Market In Good Position
(Received 12.30 p.m.) LONDON, January 9. The butter market is firm and active The sale of 20,000 boxes of New Zealand butter to Germany, under Mr Nash’s reciprocal trade agreement, assisted to relieve stocks, while the announcement of the restrictipn of Australian shipments, which left in March and April, made buyers ready to maintain stocks. Cheese is featureless. Last week, the price of New Zealand butter in London rose 5/-, reaching 117/- per cwt, the highest level touched since September. Since December 1, the price has improved by 14/- per cwt. The decline in Australian production, which is expected to cause smaller shipments in the near future, is due to drought conditions in most dairying districts. This has been a big factor in the improvement in the London market, and New Zealand benefits most, as the full weight of the current season’s production in the Dominion is now coming on to the market.
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Northern Advocate, 9 January 1939, Page 6
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159N.Z. Butter Market In Good Position Northern Advocate, 9 January 1939, Page 6
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