SHARP DECLINE.

Thames Star, Volume LXVI, Issue 19810, 12 September 1936, Page 3

SHARP DECLINE.

NEW ZEALAND BUTTER. Drop Of 5/- Over Week. HEAVY FORWARD BUYING. CHEESE VALUES ALSO LOWER. (Special to "Star.") AUCKLAND, Sept.. 12. . There >has been a further sharp decline" in the London butter inarket, Zealand now being quoted at. 109/- per CAvt.', a fall of's/- over the week. The market is weak, With a poor demand and a general feeling of uneasiness.

Cheese' values also are lower. White is selling at about 68/6 per cwt., and coloured at 66/6, both representing falls'over the week. The market is slow and easier.

It is believed that the drop is due to the unloading of speculative butter. Heavy forward buying occurred a few months ago, and a good deal of this butter has been held until now. However, these stocks are being unloaded, owing to the arrival of neAV season's butter. The usual off-season advance in the market began considerably earlier this year than in past seasons. It is also stated that the Continent has been shipping more butter. • 'The weekly Press Association cable from London states-: —

Butter is weak. Danish, 127/- to 128/- cwt; choicest-salted New Zealand and Australian,, 1.09/-; unsalt, ed NeAV Zealand ' and "' Australian, 11.0/-.

Cheese:'- New 'Zealand, .Avhit'e 69/-, coloured 67/-. Messrs. A. S. Paterson and Co., representing J. and J. Lonsdale and Co., report: —Butter: -New Zealand, 110/-; Australian, IQO/-;/Danish, 128/-; market quiet, poor demand. Cheese: White 68/-,~ coloured 66/to 66/6; market shrwy easier.. Commenting •on the general position', Messrs. Paterson state: The falling aAVay in'butter prices, Avhicb has taken place during the past 10 days, once again illustrates the sensitiveness of markets- iii- general atthe present time; and of the butter market, in particular. Whether the reselling of butter purchased e.i.f and shipped during Jury and 1 August has influenced the market,-'is an-open question. • - - ••'