STILL HIGHER

Poverty Bay Herald, Volume LIII, Issue 16372, 21 June 1927, Page 5

STILL HIGHER

PRICES FOR BUTTER DECrDED ACTrVTTY tSpecial to the Herald." AUCKLAND, this day. The buoyancy of the New Zealand butter market, which followed the decision to abolish absolute control, was to-day. even more pronounced, and offers to factories as high as 1/5 per lb. were made, but without affecting business. Most companies have confidence in the immediate future of the London market, and taking advantage of the "bidding for custom "by exporters," are holding for a higher figure. City business men in the trade are cptimistic regarding disposal &t a satisfactory figure of the remainder of the nresent season's output. It 13 stated that apart from the reassuring statistical position offers at a still higher level than 1/5 are to be expected as a result of the struggle between exporters to regain their preccntrol. ''- .'■- , SMALL STOCKS HELD Comparatively little butter remains from the 1926-27 dairying season, and some houses are prepared to bid high p.nd even sustain a loss—it can only be a small one—in their eagerness to recapture trade before next season under the old free-marketing-regime. '' There is quite a lively interest in the market this mornings" stated a representative of a consigning firm, cli read a cablegram received-a few hours earlier from London, i It stated that at June 1 stocks of New Zealand dairy produce in London amounted to 16,000 tons of butter and 8600 tons of .cheese, as jcomparpd -with 32,000 tons of butter and 4900 of cheese "at the corresponding period of last year. "It puts a rosier hue on butter prospects, but it is 1 apparent that cheese is banking Up," !he commented. ' •' All along the Dairy Produce Board paid insufficient, attention to cheese, and if care is hot exercised cheese makers may find themselves suffering from an accumulation in competition with, the fnish from the producers of "■ the Northern Hemisphere, but the jjm* mediate future of the butter market is assured and higher bids in New Zealand are jrobable."