butter prices.

Hokitika Guardian, 20 November 1924, Page 2

butter prices.

[iiy TELF.GUArn —run rttr.ss association. J OA.MABC, November 19. Butter lias fallen in price one penny per pound all round. SYDNEY, November 19. The wholesale price of butler is being reduced here to 1 I Is fid per ewt to morrow. EXCESS I Y E SUPPLY. NEW I’LY.MOUTII. Nov. IS. A letter from London, dated September S. shows that the world’s production of butler this season is likely tn lie excessive. The I’uited Stales was milking every elfort lo dump its surplus, ol which it had Lilly 311.0 - lons, in Great Britain without success ;i : , th-* American Inilt-r was uiipnpu lac. This nicaiil that Canada, which had an outlet in the States, together with Argentine, would lie without outlets, and the goods would have to go to Britain. Increased production had also occuricd ill Australia and New Zealand, and Siberia had also dumped several thousand tons ol low-grade lint - ter into Great Britain. If favourable weather millintteil. merchants expected between January and May something like 111,(Hi!) tons more than last year, and that quantity could not be absorbed unless at a low reta:! price. I* rum .January on difficult times could he expected, as there would In* a disposition on the part of the producers to withhold suplies and so create an artificial state ol affairs. There was also in England more than ample cheese at the value of 91s. II the New Zealand production were smaller than last year the situation would lie simplified, hut if excessive the writer mtild see nothing for it bill a lower range of values. British traders had been working on Canadian cheese lor four months without making a penny profit, and were about tired of the “ hull ” attitude. The letter added that this seasen it was most difficult to make lorward salt's of either huiler or cheese. Importers lost heavily oil cheese all last year, and butter arrivals itt i-ebiiuuj and Match were still in their memory. They blamed the delayed shipments, etc., and consequently now seemed determined to hoy only specified quantities by specified steamers, and even then they would he very moderate it) their operations.