THE BUTTER MARKET.

Temuka Leader, Issue 10281, 7 January 1922, Page 1

THE BUTTER MARKET.

DAIRYMEN’S CONFERENCE. IMPERIAL STOCKS TO BE BOUGHT. WELLINGTON, Jan. 5. A conference of representatives of the dairy factories was held to-day to consider the offer made by the Imperial Government to sell the producers’ accumulated stocks of New Zealand and Australian butter, New Zealand butter to be offered at 100 s and Australian S4s. The Australian producers decided on Wednesday to purchase with GovernmHnt assistance and have submitted proposals. The Government’s decision is awaited with interest. The result of to-day’s meeting was the decision to buy at the price named and pool with this season’s production. It was also decided to place on the market only sufficient to meet the demand, profits to be divided pro rata and if a loss, it will bo defrayed by a levy on the season’s output. Government assistance is to be asked for. SERIOUS POSITION OF MARKET. A cablegram received by the Bank of New Zealand from London gives the price of butter in London at IJOs to 120 s per cwt. It is stated that this is below the pre-war average prices and, further, below the cost of production. As indicating the state of the London market, the National Dairy Association received the following cablegram from London: “The condition of the butter market is still bad. Danish is 154 s per cwt, New Zealand 1185,.. Australian 90s to 104 s; prices irregular. Cheese: Canada 80 to 100 s, New Zealand 86s to 90s; white and coloured, market quiet.”