BUTTER PRICES EASE.

New Zealand Herald, Volume LXII, Issue 18943, 14 February 1925, Page 10

BUTTER PRICES EASE.

SLIGHT DECLINE REPORTED. WITHDRAWAL OF BUYERS. WAITING FOR NEW ARRIVALS. The sharp rise in the price of NewZealand butter 011 the London market did not last long, according to a message .received yesterday, and a slight reaction has been manifested, resulting in a decline of approximately 6s per cwt. The movement, which was not unexpected, is viewed in commercial circles with equanimity, as prices still remain at a substantially higher level than those prevailing a few days ago. According to the cabled message of one London agent the price of butter had eased and was being quoted at 174s as against the maximum price of 176s mentioned in yesterday's Herald. A message received by Joseph Nathan and Co., Ltd., was as. follows:—"Butter 170s. No business being done. Buyers withdrawn from the market." Information received by Mr. W. W. Bowker stated sellers were asking 176s to 178s for first-grade salted, but tliere were no ■ buyers at present. Discussing the messages yesterday afternoon, a local merchant expressed the opinion that tho lower quotations reflected a natural reaction from the previous excitement. In his view it was a healthy sign that prices had not been forced too high. There was not the slightest need for alarm, he said, as the decline could not be regarded in the least as a slump. The quotation of 170s mentioned in one of the cables was itself materially higher than values had been for several weeks. The market is stated to be cleared of available stocks. Big shipments, however, are expected to arrive on the Home market in the next few days. A local exporter stated yesterday he had very good reason to believe that business would be clone at 175s for the shipments in question. The cheese market is reported to bo steady at 95s for white and coloured. PRICE TOUCHES 180s. DANISH AT HIGH PREMIUM. Australian and N.Z. Cable Association. (IJeed. 5.5 p.m.) LONDON. Feb. 12. The butter market is active. There is good demand from both Home and Continental buyers. Arrivals are being well cleared. New Zealand choicest, salted, is quoted at 176s to 178s, and exceptionally good at 180s. Australian is quoted at 166s to 168s. Unsalted butters are at from 12s to 14s premium. Danish is firm at 2265. Cheese is steady. Now Zealand, 955; Australian, 90s to 925.