BUTTER POSITION

Wanganui Chronicle, Volume 77, Issue 257, 30 October 1934, Page 9

BUTTER POSITION

A RISING MARKET GERMANY TAKES DANISH LONDON, Oct. 27. The butter market is showing signs of improvement and prices of Australian and New Zealand have advanced 3s to 4s per cwt., while Danish jumped 10s. This recovery is partly due to the announcement that the Australian Dairy Board is restricting exports and the expectation that New Zealand will follow Australia’s example shortly. The rise in the price of Danish is due to heavy buying by Gwmany. It strikes most people as extraordinary that the price of Danish butter here should be 50s cwt. higher than Australian and New Zealand. This is largely due to the fact that owing to the German demand Denmark is now sending less here than usual. There is a certain number of consumers here whq insist on having Danish butter. Their requirements are estimated at about 2000 tons weekly. This week’s shipments have fallen considerably below this amount, consequently the price has gone up. Danish butter is now selling retail at 6d per lb. above New Zealand and Australian, which seems absurd when the qualities are compared, for experts generally agree that the best of th-e Dominion’s butter is quite as good as Danish. AUSTRALIAN BUTTER EXPORTS Information furnished by the Australian Department of Commerce shows that butter exports this season (14,375 tons) are more than 3000 tons ahead of last year’s corresponding figure. The advance has been recorded in shipments to the British marketqualities forwarded to other countries, so far, are slightly below 1933 figures. Details are as follows: —July 1 to October 6, 1934—T0 United Kingdom, 12,908 tons; to other countries, 1467 tons; total, 14,375 tons. July 1 to October 7, 1933—T0 United Kingdom, 9548 tons; to other countries, 1527 tons; total, 11,075 tons. CHEESE MARKET FIRM Joseph Nathan and Co.. Ltd-, have received from Trengrouse and Nathan, Ltd., London, the following cabled advice, dated October 27: New Zealand cheese: White, 52s 6d to 53s per cwt.; coloured, 51s 6d to 525. Market firm.