A FURTHER DECLINE

Poverty Bay Herald, Volume LV, Issue 17229, 8 April 1930, Page 7

A FURTHER DECLINE

HOME BUTTER MARKET LOWEST PRICES SINCE 1921 (Special to the Herald.) AUCKLAND, this day. A further fall in dairy produce prices on the London market was recorded in cable messages received by Auckland merchants yesterday. Finest grade hullin' is selling at 1245, and cheese at 755. Advice was also received that the rates of advances on consignments have been again reduced. The rate oil butter inis been reduced by Id to lid, and that on cheese by j,d to 6j,d. Amalgamated Dairies, Ltd., received the following market report from its London office yesterday: “The butter market is disorganised under the continued absence of any general demand. Finest generally is now 1245. Our best official quotation is nominally 130 s; Danish, ,140 s spot, cash ; 131 s, f.o.h. The Danish quotation is now below pre-war. This year Danish fanners are losing heavily. Retail prices now generally are Danish, Is sd; New Zealand, Is 4d; others, Is 3d, and occasionally Is 2d. Deliveries are: New Zealand, 1442 tons: stock, 7234 tons. Cheese, white, 745; colored, 765. The market is very quiet. Retail price: New Zealand is now generally lOd.”

Butter 2>riees have not ruled so low for many years, except at the end of 1921, when the realisation of surplus controlled stocks caused a temporary fall below 120 s. A quick recovery was made from that extremely low level. The present, position is rendered more unfortunate by the fact that it coincides with a period of heaviest deliveries, when tho llusli production is reaching the London market.