THE BUTTER MARKET

Otago Daily Times, Issue 18453, 14 January 1922, Page 9

THE BUTTER MARKET

CLEARING SURPLUS AT HOME. { PROSPECTS MUCH BRIGHTER. Press Association—By - Telegraph—Copyright. LONDON, January 12. (Received Jan. 13, at 10.25 p.m.) The Australian Press Association understands that the Board of Trade has sold a large quantity o,f Australian butter. Its stocks are now reduced to about 100,000 boxes. The actual price at the sales is not divulged, but it is generally believed to be about 10s above the figures at which the butter was offered to the Australian and New Zealand Governments. ’ It is understood that the bulk of the butter was taken by a group of large Tooley street firms, which’ are acting in conjunction with some of the chief multiple shops, of the firms being to secure ' themselves against any unduo '.advance in retail prices which would check the present splendid consumptive demand. Tneir purchases of these Government biittera make it compai-atively certain that the new season's, butter has seen its lowest price. The present consumption is reckoned to be from 10 to 12 per cent, above the pre-war, consumption at this time of the year, and at the present retail prices it should be well maintained. It~j» understood that a considerable portion of the purchases has been shipped to the Continent, France taking a large quantity. The present quotations for new butters are very firm. The choicest New Zealand salted is quoted at 1305,. and unsalted at 1455. Australian salted is quoted at from 116 s to 120a,'and unsalted at 130 s. The discharge of both Australian and New Zealand has been much delayed, i Cheese is steady. New Zealand coloured is quoted at 86s; white'from 82s to 84s; new Australian colourecT, from 82s to 84s, and white from 80s to 82s.—A. and N.Z. Cable. ,