THE BUTTER MARKET.

Waipa Post, Volume XXI, Issue 1279, 10 August 1922, Page 5

THE BUTTER MARKET.

FURTHER DECLINE RECORDED.

CAUSES OF THE FALL.

The 'following market quotations have been received by cablegram from London by the New Zealand Co-opera-tive Dairy Company: ‘Cheese: White, 98s; coloured, 84s. Anchor milk powder, 62s 6d; Anchor casein, 60s; Anchor superfine salted butter 200 s; unsalted, 210 s; first, 196 s (nominal); Danish, 190 s, f.o.b.

Commenting on the message, Mr W. Goodfellow said that apparently the substantial drop in England of the price of New Zealand butter was due to the fact that the dairies had shipped all their butter to the British market owing to the adverse Continental exchange. Danish butter had recently been exported to Germany, but no doubt the collapse of the mark had had a good deal to do with the unfortunate position which had arisen. Mr Goodfellow also stated that the company at present held unsold stocks of about 3000 tons of butter.

Messrs Joseph Nathan and Company report: Cabling under date 4th ust, London quotes New Zealand butter nominally 190 s. Business is dull and stocks are fairly heavy. It ip not expected that much improvement will take place while these stocks are held; in fact, a further reduction in prices is looked for in some quarters next week. London reports that the market has been over-strained by recent high prices, and also by an apparent determination on the part of the public not to pay more than 2s per lb retail. It is thought that although there will be no speculative dem'and, prospects for the next few months are generally good, even if lower prices rule for a short period. Butter graded for the twelve months ending 31st July amounted to 1,010,956 lbs, an increase of 46.26 per cent over the corresponding period of last year. Australian is quoted at 188 s, Argentine 192 s to 198 s and Danish 20'2s.