DAIRY INDUSTRY

Hokitika Guardian, 29 April 1930, Page 8

DAIRY INDUSTRY

POSITION ItEVIEWED

AUCKLAND, April 24

In his monthly report to suppliers of the New Zeeland Co-operative Dairy Company, Mr \Y. Goodfellow, managing director of Amalgamated Dairies Ltd., says: The London ' butter market has become demoralised, and hats relapsed to the lowest point since the greate slump in December 1921. "With heavy quantities of New Zealand and Australia butter in sight, and a mild winter in Europe, it was only to be expected that values would be lower than last season. The decline, however, was accentuated by the recent financial disturbances in New York, bid nevertheless, taking all these factor into consideration, it was undoubted]' the fierce competition among the agent: selling New Zealand butter to the hi' buyers which was directly responsibb fry the low prices. According to are port received on April 10, the marked closed firm with the company’s mala at 12fis after large sales of New Zea land butter had been made at 120 ■Tt was ‘quite possible, however, that those sales would he he used as pro toctive stock, enabling tlie big buyers ti hold off the market again while com petitive selling once again reduced prices. The slump in New Zealand hut ter had brought others down with it and to-day Danish butter was offered at less than pre-war prices. In his opjn ion 148 s, with a Is fid retail price would have put all this season’s New Zealand butter into consumption, and the pre sent prices, were therefore, quite un warranted. Tt was impossible to sa? hew long the present position would oh tain, but a late spring in Europe would reduce stocks, and the stage might shortly be reached when the mu]tipi' shoos and other big buyers might con sider it the opportune time, to stock up. Weekly deliveries last month total led l<l2o tons. :■

Tlie f.o.b. market had been quiet, a! though Eastern Canada had displayed 51 certain amount of interest, hut out at low prices. A fair amount of business had been done at Is lid f.o.b. for April shipment to Montreal, and the whole of the available space had been hooked up. • Deferring to cheese, Mr Goodfellow stated that this market showed an unnecessary sympathy with butter, and in spite of a. much sounder statistical position, had consistently declined. There seemed no reason why tin’s position should continue, and he hoped to see a return to active buying shortly.

W.intcr will soon he bore and wblit the. cold, nights. Bado’s have ji s‘ what you want in Imt+oimd and 100-' knpoc mattresses, white, fleecy blank ets. and beautiful new down quilt* at Frank Bade’s. ’Phone 179. — Adyt