BUTTER PRICES

Rotorua Morning Post, Volume 2, Issue 383, 18 November 1932, Page 6

BUTTER PRICES

MAKKET SLOW AND RATES SHOW ALL ROUND DROP The price for finest New Zealand butter on the London market has again receded and is now 94s a cwt. This is the lowest point reached since the war and it is equivalent to about 9.5 6d per lb. f.o.b. Donrinion ports. In November, 1913, New Zealand butter was quoted at 123s to 126s. The present fall in the market dates from September 15, which marked the peak of a rising period beginning on May 29, when New Zealand finest was quoted at 95s. On September 15, butter had risen to 116s a cwt., but in the next week it declined to 113s, rising again to 114s, and maintaining this level until October 6. A further sharp fall was then reg'istered and the price declined to 110s in a week, holding at this level until October 20. During the past four weeks there has been a steady downward movement, prices at weekly intervals being as follows: — October 27, 106s; November 3, 103s; November 10, 97s; November 15, 94s. The New Zealand Co-operative Marketing Associatjon, Ltd., has been advised from London: — Butter: New Zealand, finest, 94s; first, 90s, Danisli, 113s. The market is slow. Cheese: White, 62s; coloured, 58s to 59s. The market is quiet. Joseph Nathan and Company, Ltd., have received the following advice from their London agents, Trengrouse and Nathan, Ltd.: — Butter: New Zealand, finest, '94s; first, 90s to 91s. Altliough lower prices rule, shipments are clearing satisfactorily.