LONDON BUTTER MARKET

Hokitika Guardian, 6 December 1930, Page 3

LONDON BUTTER MARKET

MR GOODFELLOW’S REVIEW. In his monthly report to suppliers of the New Zealand ' Co-operative Dairy Co., Mr W. Good fellow,' managing director Amalgamated Dairies, Ltd., sayjs:— There was no doubt‘ that the -lower retail prices had stimulated consumption. and it was anticipated' that at l.s 2d per lb retail for New Zealand butter the demand would keep t-fie heavy arrivals from accumulating unduly. T’-:« wo’ihl mean a 11.0 sto 112s 1 market for finest quality, and a net f.o.b. return of under Hd a lb. V few weeks ago there- seemed « likelihood that the New Zealand butter ’ production would be much heavier than last, year, but the latest returns', indicated that the ratio of >ncrease had declined as a result, of the adverse weather. AT present, ft"' !>- mini'Mi oujnet w"-s about the same as at this period last year. The T ouden market, however, would he called upon to absorb the additional quantity which went to Canada last season, end New Zealand shipments to Louden would probably be increased b-v over 10.000 tons. Australian and Argentine' report all indicated increased exports to the United Kingdom for the 1030-3-1 season,-, Tlve lower prices and increas-d consumption of New' Zealand butter had induced the Danish Marketingy AsAsocintion to reduce its quotations.. The fnet that it had been abb- to maintain its prices a* such a- substantial premium on a continually falling market was irrefutable evidence of the value of an efficient- marketing system, and amply justified the statement that, the- New 'Zealand competitive system on a weak ni-rket 'would produce ruinous results. Stocks were being closelv sold up. and early September make was now being disposed of in London. No New Zealand butter was bourn shipped to Vancouver bv the November steamer, but Australia has taken advantage of the clutv bv shippum 4500 boxes. There had been rath'"' more interest in the f.o.b. market, and a limited quantity of butter afio-'t had been sold at the equivalent, of lid n f, r lb net, f.0.b.. and sales -bad boon madg at 10 a tl. hut forward inquiries indicated 10',d per lb. f.o.b.