THE PRICE OF BUTTER.

New Zealand Herald, Volume LVIII, Issue 17957, 6 December 1921, Page 8

THE PRICE OF BUTTER.

/ * - ■■ ■ , ". r . CONFLICTING REPORTB. LONDON MARKET QUIET. UNCERTAIN FUTURE. Conflicting, reports concerning the current pried of butter in tondon and Copenhagen were received in Auckland (luring the week-end. Joseph Nathan and Co., Ltd., were advised that, Danish better had completely collapsed and was being quoted at 195s a cwt. f.Q.b. Copenhagen; equal to a drop of 50s a cwt. in a fortnight. Fears wore expressed that this would have a serious effect on the prices of New Zealand butter. On the other hand Mr.'W. W. Bowker. managing representative for New Zealand for A. J.Mills and Co., Ltd., London, was advised by cablegram, sent from Loudon on Saturday morning, as follows:— Butter.—Government prices are unThe market is quiet and buyers are cautious. The s.s. Athenio and Ruapehu have commenced discharging, and quotations are 196s to 200s. Cheese.—The market is depressed and prices have lower tendency. New- Zealand quoted: White, 104s; coloured, 102s. Commenting on this cablegram Mr, Bowker said it seemed to suggest tho possibility of a mistake in the cablegram about a sensational fall in Danish butter. The latter message had not, so far, been confirmed by any of the other cable messages "eceived in Auckland. Tho reported drop in the price of Danish butter was the subject of some remarks yesterday by' Mr. Hugh C. Aicken, a member of tho Auckland section of the New Zealand Butter Committee. He said the] reduction wag quite unexpected, and w&Sj not according to the most reliable infor- j mation on the subject n-»oived from London during the past fortnight. It had been expected that there would be a reduction, and that choice New Zealand butter would be the means of bringing about a decline in Danish prices. It was also anticipated that New Zealand butter would increase in value boyond tho price recently quoted for old season's stocks. Mr. Aicken stated that in the absence of confirmation of the latest information regarding the Danish market it was difficult to forecast what New Zealand new season's butter would bring op the London market, On May 6, ho said, Danish butter dropped to 190s a cwt., but immediately began steadily to • increase in value, as also did the Imperial Government's 6tocks of New Zealand butter, until they reached 262s a owt. in tho middle of August, when prices again commenced to deoline. There were at present five ships at the London docks waiting to discharge New Zealand new season s butter, 6aid Mr. Aicken, but the quantity was not very great. Unfortunately, however, while these ships were being delayed heavier shipments were on their way to Britain. If there was not a speedy clearance of the vessels at present lying at the docks, there was a danger that these stocks of buttef would clash on the market. Until tho new season's butter was actually sold it would bo difficult to estimate the efffect of any decline in the price of Danish butter oh Now Zealand's exports.