BUTTER PRICES

Hokitika Guardian, 7 September 1926, Page 4

BUTTER PRICES

I-'THITHER DECLINE. LONDON .MARKET WEAK. There ar.o a million boxes of butter stored Iu London. Of these 115(1.1)00 arc New Zealand butter, of which at’ least SO per cent is said to he held hv. or on behalf of. dairy companies (not by the Now Zealand Dairy Producers’ Board) for reserve prices, states the “ Post.” On September 5 of last year New Zealand butter was quoted in London at lfiSs to 200 s for salted. On September .'1 of this year Messrs Dalgety and Company report New Zealand finest at KiOs to 1625. A study of quotations since May of last year indicates that New Zealand butter lias been down' to .102 s only once flu that period, and that was for a few davs at Christmas.

Apart from all matters of opinion as to whether the principle and the policy cf the New Zealand Dairy Producers’ Board arc good or had. it lias to he admitted that the board has entered into absolute control at a critical time, iu circumstances of unusual difficulty, and confronted with an accumulation of reserve price buffer the marketing of which presents a very big problem to everybody concerned.

On Saturday a Wellington firm received the following cablegram from London :—“ Market collapsed, speculators now liquidating New Zealand butter. 1565. 160 s. Cheese 84s (white), 82s coloured.”