THE BUITER MARKET.

Otago Witness, Issue 2823, 22 April 1908, Page 9

THE BUITER MARKET.

DECLINE IN WELLINGTON. WELLINGTON, April 15. There was a drop of Id per lb <n the retail prioe of butter this morning, and the ruling rate is ls 3d. Supplies havo kept up well, and factories m Manawatu Wkirarapa, and Taianaki are generally making more butter now thau was the case at the end of February. (From Oub Own CoebTssponeent.) AUCKLAND, April 18. Despite the fact that the recent spell of mid weather, following upon welcome rains and the consequent bountiful supply of feed for stock, has been responsible for a marked increase m the quantity of butter being manufactured, little hope is held out for a reduction m the price torthe present at all events. >On Thursday there were 16,007 boxes, or slightly over 400 tons, m store at the freezing works and this amount is being augmented a little as time ■roes on. Those m the trade, however, anticipate a big falling off m supplies m a month's time at the latest, and the quantity, large as it appears, would then have to be extended over a period of some three or four months. In the meantime, it is pointed 'out, a few days' cold weather might occur and simultaneously with it would com,? a marked decrease m the quantity of butter coming forward. Accordingly it is doubtful whether a reduction will take place until the opening of naxt season. One wholesale merchant said the position resolved itself into a gamble with the weather. . " With a long spell of such weather as we are now getting, he said, "it is possible that butter might go back ld a pound, but my own impression is thai it will remain at the same price until next season." Another prominent butter merchant said he thought it was likely that the price would ease a little, as for this time of the year supplies were coming m freely. Questioned regarding the recent reductions m Wellington, those m the trade expressed the opinion that this was the result of a new firm attempting to build up a business at an outside figure. It is estimated that there are 60,000 boxes or 1500 tons, of butter m the Dominion at present.