THE BUTTER MARKET.

North Otago Times, Volume CV, Issue 13927, 9 July 1917, Page 8

THE BUTTER MARKET.

JraW ZEALAND AND AUSTRALIAN SUPPLIES. '« ',;.' .'■'■■ ; , J .'/". , TIiEDIFFERENCEIN VALUE. (Per Cable—Press Association—Uopyright.) (Australian and. N.Z, Cable Assn.) LONDON, July 5. Butter: Firmer, as the result of an' all-round shortage. ' Australian, very scarce,. Finest Australian and New Zeala'nd are quoted at maximum of 194s and 200s respectively. The 'trade be : lieves that an increased maximum is not likely in the immediate future. Tomorrow's price will not be altered, but as there is every prospect of the shortage continuing, it is fully expected that an upward revision is inevitable within the next week or two. , The general opinion in Tooley street is that a misapprehension exists in Australia regarding the (is margin between ■ the Australian and New Zealand maximum. Prior to the imposition of

maxima prices, the difference in value sometimes amounted to 12s, which was due partly to accidental circumstances. Finest New Zealand was then arriving in considerable quantities .of even quality and faultless grading, ' and it thus replaced Danish, supplies of which had temporarily ceased. On the other hand, finest Australian was comparatively scarce, and traders considered that the graders were unequal to those of New Zealand. This difference was taken into account in fixing the

maxima. Tooley street agents insist. 1 that the (is margin equitably represents the difference in market values. Australian representatives consider that the whole question of prestige should not be overlooked, urging that the time would come to press for a narrower margin when the maxima were next altered. They point out that while neither Australian nor New Zealand sold at the maximum price the margin W as a matter of less consequence, but as both now reached the maximum the margin should be reduced, They hope to secure a reduction to 4s, or a less position,