BUTTER MARKET

Taranaki Daily News, 19 August 1935, Page 12

BUTTER MARKET

LONDON REPORT RECEIVED. IMPROVED TONE EVIDENT. Information on the amount of butter landed on the British markets during April and May and the first five months of the year is contained in a report from W-ddel and Co., London, received on Saturday by Mr. N. L. Douglas, Stratford. The total importation from all sources during May was 1734 tons less than during the same mon*'i last year, but a comparison of the two Aprils showed an increase of 3331 tons. For the five months ended May 31, however, there was a decrease of 8082 tons. Returns made up to June 8 disclose that notwithstanding the comparatively heavy total arrivals during May there was no undue increase of stocks held in the cold stores in the United Kingdom, the increase being only 1820 tons over the previous fortnight, and 12,093 tons less ‘than that of a year before. Shipments afloat from New Zealand, Australia and Argentina were 5224 tons less than at the same time last year. In the last report, it was stated, reference was made to the various reasons for the improvement which had then taken place in the market, and throughout the period under review there had been no material change in the position. The decline in production, both in New Zealand and Australia, with the consequent reduction in shipments afloat, stocks in cold store on a comparatively low level in comparison with those of last year, and the backwardness of the Continental season were factors that had combined to bring about a much more confident feeling as to the present and immediate future of the market. “During the past week or two several of the larger operators have been buying heavily both on spot and on a c.i.f. basis, and though at the moment the buying can hardly be 'described as general, there are no signs of any give in prices and the market closes firm,” the report stated. “At the beginning of this week prices generally were advanced Id a lb on the retail market but with competition so keen in the retail trade it is hardly likely that tins wi(l be allowed to interfere with the present heavy consumptive demand.”