THE BUTTER MARKET.

Pahiatua Herald, Volume XXXIX, Issue 11683, 23 February 1931, Page 7

THE BUTTER MARKET.

REVIEW OF PROSPECTS.

Reviewing the- dairy produtVi position for- til© month ended February 10, New Zealand agents for a London company Bays:— "London butter prices remained remarkably steady throughout the past month, in spitq of a slight weakness quoted on January 30, but which disappeared, and to-day we h4ve a firm market. Deliveries ex store during the past five weeks exceeded those for the same period last year by no less than 180*1 tons as a result of stores purchasing protective stocks. W. Weddell and Company, Ltd., cable that consumption contuiueis good with a steady demand, while there is a growing inquiry from Continental sources, mote especially for unsalted butters which have again established a premium of 3s over salted. The retail Loudon price has been kept down to Is 3d, and, this is undoubtedly helping the position very! considerably, together with the, advertising propaganda carried out by London importers in conjunction with the Dairy R oard. The stock position in the United Kingdom is strong although the quantity of New Zealand awaiting shipment is greater than at January 31, 1930. W. Wedded and Company*, Ltd., consider that the market will now remain firm with a is lowly improving market. “There are heavy stocks of cheese on spot in Loudon, afloat and m New Zealand, and this is having a depressing effect on the market. Another factor that is keeping consumption of cheese, at a low point is the very cheap retail price for meat, bacon and other ,seasonable substitutes. In view of this. W. Weddel and Company, Ltd., advise us that they* do not expect any very great improvement in the market, although with the lower retail prices they are* hoping that stocks will be cleared more rapidly. Reports are to hand that quite a, number of Taranaki dual plant factories have already* decided to manufacture part of their usual cheese output into butter and this should have the effect of helping the cheese position somewhat.