BUTTER SALE AT 12 1-2D

Taranaki Daily News, 13 September 1935, Page 4

BUTTER SALE AT 12 1-2D

COMPANY ADVANCES 1/1 HIGHEST FIGURE IN THREE YEARS. PROSPECTS UNTIL CHRISTMAS. PAYMENTS MAY RISE TO la 3d. A sale at 12Jd of butter about to be loaded at the port of New Plymouth on consignment at lljd was made by the Lepperton Dairy Company yesterday. Simultaneously the Midhirst Company is reported to have fixed its advances at 12Ad for August and Is Id for September—4llo first time for three years that a Taranaki company has advanced more than Is. In Midhirst’s case the advance has been assisted by ljd being available for casein. Anyi factory with butter arriving at London on consignment this week at the ruling price of 112 s would be in a position, with the assistance of revenue from casein, to advance Is 3d. Authoritative opinion is that there is likely to be little change in the present prices ruling for butter before the end of the year. In addition to an advance for casern of ljd over both August and September, the Midhirst Company is paying lid for August butter-fat and lljd for September, making an over-all average for the two months of 12Jd.

Lepperton’s advance for September has been fixed at Ujd, including casein, a quantity of this season’s make having been due for loading on the Port Fairy yesterday. Before the produce was loaded, however, the company received an offer of 123 d, the highest made for a sale this season. Had not the advance already been arranged the company could have made payment of Is 2d.

The butter market was in a better state than it had been for three years, the Daily News was told yesterday by a man prominent in the dairy industry. Any company manufacturing casein that had shipments arriving on the London market this week at the present rate of 112 s would be able to advance Is 3d. Although the ultimate trend of the market was not known, it seemed as though the present levels could be relied on till at least the end of the year, and farmers -would, in any case, have better pay-outs until Christmas than they had been accustomed to for some time.