The Butter Market Closes On The Worst Year in its History
THE year just closing is the worst ■*' in the history of the' butter market. London values for New Zealand butter have been consistently below 100 s per ewt., except for one brief spell of six weeks, and in consequence payments to dairy farmers have been at an unprofitable level. At present, the position does not seem hopeful for any immediate improvement. Latest quotations are only Is per ewt. above the lowest level recorded, this being early in April last. At that time prices went as low as 04s for a day.
The 1932 prices were good in comparison with those of the year just closing, but during 1933, with the exception of tld; first few weeks, farmers have had the advantage of the 25 per cent, exchange, which was not sufficient to offset the disadvantage of tne price level. However, in most other markets conditions are better than they were a year ago, and, if the latest move of controlling supplies to the market is successful and no new big supplies loom in sight, the present outlook should not be without hope.
In the following table is shown the Dairy Board’s butter quotations from the London market week by week, those for the ebrresponding weeks of 1932 being also quoted for the sake of comparison, 1933 1932 per ewt. per cwt.
s. s. .Ian. (i . 82-S4 99-102 Jan. I."> 81-83 97-99 Jail. 20 80-82 94.-96 Jail. 27 79-81 99-102 Feb. 3 78-80 100-102 l-'cb. 10 . 78-81 101-104 Feb. 17 . 75-78 1.10-112 Feb. 24 . 73-76 107-109 Mch. 3 . 75-78 108-118 Mch. 10 71-75 110-112 Mch. 17 77-78 107-109 Mch. 24 . 71-74 107-109 Mch. 31 . 67-70 108-110 Apr. 7 . 65-68 108-110 Apr. .13 . 68-70 106-109 Apr. 21 . 66-78 103-105 Apr. 28 . 68-70 97-100 May 5 . 72-73 96-98 May 12 . 78-82 95-97 May .19 . 78-81 93-95 May 26 . 77-80 96-98 Juno 2 . 78-81 97-99 Juno 9 . 81-83 94^96 June 16 . 80-83 95-97 June 23 . 77-79 96-98 June 30 . 76-78 98-100 July 7 . 78-80 100-102 July 14 . 76-78 105-106 July 21 . 78-80 105-107 July 28 . 82-84 105-106 Aug. 4 . 83-86 104-107 Aug. 1.1 .• 88-90 107-110 July 18 . 90-92 108-110 Aug. 25 . 89-92 107-110 Sept. 2 . 91-94 109-112 Sept. 8 ' . 96-98 110-113 Sept. 15 . 98-101 .112-115 Sept. 22 . 105-110 108-114 Sept. 29 . 102-108 105-110 Oct. 6 . 98-102 100-115 Oct. 13 . 96-102 100-110 Oct. 20 . 95-102 102-110 Oct. 28 . 90-96 96-106 Nov. 3 . 81-90 95-104 Nov. 10 . 84-90 90-96 Nov. 17 . S5-SS 88-92 Nov. 24 . 77-80 84-86 Dec. 1 . 70-74 86-88 Dec. 8 . 70-73 82-84 Dec. 15 . 68-71 81-83 Dec. 22 . 65-67 82-84 Dec. 29 . 65-67 82-84
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Poverty Bay Herald, Volume LX, Issue 18284, 30 December 1933, Page 12
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442The Butter Market Closes On The Worst Year in its History Poverty Bay Herald, Volume LX, Issue 18284, 30 December 1933, Page 12
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