PRICE OF BUTTER

Dominion, Volume 9, Issue 2866, 2 September 1916, Page 10

PRICE OF BUTTER

REDUCTION NOT EXPECTED. The price of butter, romaius high, uud thero appears, to bo no early prospect of a 'reduction. Several dealers and merchants told a Dominion' reporter yesterday that tho trend of tho market for dairy ■ produce was all against any substantial reduction in prices in the near future. Australian lactones are reported to have sold a very large quantity of cheeso to tho Imperial authorities at Bd. a pound, f.0.1)., but. the requirements of tlio A'rmj/ authorities are enormous, and with a big reduction in Dutch and Danish supplies-thero appears to bo no prospect of iuiy ; diminution in tlio demand from the; United Kingdom at very high prices'. New Zealand factories with dual plants are devoting their attention entirely to cheese, 'ntimber of factories prtwlrteing butter tends to decline.

Cheese has been bought lor export in Tarariaki at prices as high as !)jd. a pound. It is stated that one factory recently refused 9j<l. a pound for its r'6Ciiston's output, but this refusal, ff it actually took place, is regarded as decidedly speculative. The bearing of these cheeso prices upon the price of butter is shown by the fact that one Taranaki factory lias sold its Augrist output of checse at a price equivalent to 2s. per pound of butter-fat. This factory is, stated to bo making progress payments at the rate of Is. 9d. per pound of butter-fat to its suppliers. It has been stated lately in Wellington that enormous quantities of butter were in cool store awaiting shipment. The actual quantity in store on August 31 at New Zealand ports was 30.926 boxes, W against 15,500 boxes on august 31, 19] 5, and 17,146 boxes on August 31, 1914.