THE BUTTER POSITION

Stratford Evening Post, Issue 83, 3 July 1928, Page 5

THE BUTTER POSITION

STEADY AtfVANCE.

ABNORMAL POSITION.

LONDON, June 30

The but'ter position can be described only as abnormal, for prices have advanced steadily throughout June, although the demand Has been somewhat spasmodic, and at no time* really heavy. As a rule prices- are at their lowest; at this time of the year, but, thanks to the shortage of arrivals from New Zealand and unfavourable weather largely reducing production in all European countries, Britain has a. firm market with traders generally anticipating the maintenance o» the present firmness. The cheese market is also firm. Production in Canada has nob reached expectations, and English supplies are decidedly short. The consumptive 1 demand has been good, but possibly may not be 1 maintained, as tlie retail price iof Now Zealand lias been raised to 13g per lb.

AHhonn-h there iq no improvement' in the Bradford wool market as regards new business, renorr.s *t +h'\ satisfactory result of t'he sales caused ton-makers to take a. morrt sanfiiine view of the raw material position, and to revise the opinions formerlv prevalent regarding the outlook for the London sales, which open on Julv 10.

"Rrisbnne has supplied a much needed index to the wool position."

a. Bradford newspaper nut it, "and though' it is discounted in some quarters as being somewhat negligible the fact remains that top-makers aw very hopeful about raw values being maintained in Coleman s?ree?.- Accordingly they are more inclined to hold out for late rates.'.'

The . Yorkshire Observer published an interesting' account of tho progress made by the British <f?ool Resarch Association in carrying-out tnu important work of standardisation of tho spinning power of wool. Already it ha, s been ascertained that not only the usual attributes of the fibre, staple, length, chimp, elasticity, and diameter are concerned in its spinning ability, but the shape of the fibres themselves sems to lmvo a, profound influence. Another important point is the discovery of a non-tarry sheep-brand-ing fluid, which scours out completely" This has been tested by large numbers of sheeP-breeders throughout the country, and all reports are highly favourable. Tho Stock Exchange has not yet entirely recovered from) the set-back described a fortnight ago. following the slump, but a Wstinctiy belter feeling is in evidence, especially m speculative stccks, which were most affected. These show a general improvement. , Gilt-edged and other investment stocks are, however, very dull although prices are maintained. lhw is largely accounted for by the usual end of the half-year money stringency, and a revival of business may , ie expected next week, wlien a, period of relatively easy money conditions is likely to begin.