ANOTHER DROP

Wanganui Chronicle, Volume LXXXIII, Issue 19784, 7 March 1927, Page 7

ANOTHER DROP

IN DOMINION BUTTER STIMULATING THE DEMAND LATEST REPORT FROM CANADA' (Special to “Chronicle.”) o AUCKLAND, March 6. Further reductions in controlled prices for New Zealand butter on the market are announced in cablegran«j dated from London on Friday, and received by Auckland merchants during the week end. New Zealand unsalted has further reduced 6s ,and salted 4s. The prices named by the Dairy Produce Board are 164 s for finest butter, and 162 s for first grade. The new season’s butter from New Zealand outside the control of the Board is now quoted in Londoa at 4s to 6s below the named prices. The cablegram adds that the market is stagnant. Up to the last week in February the named price for New Zealand finest butter was 176 s but tha slowness of sales brought about a reduction on February 23, of 8s in price. The drop in quotation evidently did : not have tho desired effect of stimulating consumption to such a degree as would enable accumulated stocks and heavy arriving stocks to be cleared, and the latest decline may be taken as evidence of a further attempt on the part of the Board to clear tho market. To some extent the latest quotations are equivalent to approximately 15.55 d per pound for butter-fat, the equivalents being 16.57 d to suppliers of home separated cream, and 15.65c* to whole milk suppliers.