BUTTER MARKET.

Shannon News, 19 December 1922, Page 3

BUTTER MARKET.

BETTER PRICES, WITH STRONG MARKET.

Mr Mervyn Wells, chairman of the * Cambridge Co-operative Dairy Company, is in receipt, of cabled information from London, under date 31th

inst., to the effect that “Anchor” (N.Z. Co-op. Dairy Co.), and “Cambridge” butter are now 7 fetching 18-4/, other brands 180/ to 182/, with a strong market. The cable states that prices may weaken again after Christmas, but it is considered that the market on the sth inst. touched the lowest price we will receive this season.

When prices were dropping so seriously just recently, the New Zealand Co.-op. Dairy Co. and the Cambridge Co.-operative Dairy Company, Ltd., after carefully considering the question, promptly stopped all sales and sold large parcels to America. Ail credit should be given to the N.Z. Cooperative Dairy Co., Ltd., for its prompt action, for they alone had big enough stocks to act effectively. No doubt ihe rapid recovery of the market is due to this action.

The stoppage of sales left several 'big people short for the Christmas trade. The storekeepers demanded protection, and purchases on a large scale, w 7 hich necessarily followed, have left the market strong and healthy. ,

UNDUE PESSIMISM.

MR GOODFELLOW’S OPINION,

Mr W. Goodfellow, managing director of the N.Z. Co-op. Dairy Company

(Waikato) stated on Tuesday that it was the opinion of his company that recent reports had been unduly pessimistic, and that there was little likelihood of a serious slump in the price of butter manufactures during the present season. Prices would probably recede somewhat as heavy shipments arrived, but substantial purchases by Canada, America and France would to a certain extent, relieve the position.

It was particularly interesting to note that America was demanding butter of a quality grading a minimum of 90 points, and apparently, despite the duty of 4d per lb, there was every probability of quantities of New. Zealand superfine butter being imported into America during the next two months.

At a meeting of directors of the J N.Z. Co-op. Dairy Company held on ; Tuesday, it was decided that the ad* \ vance payment for this month should jbe the same as that for last month,, I namely, 1/2J for superfine direct sup- ! ply, and 1/4 for cheese. This was de* 1 cided upon in view of the improved I tone of the London market and the . fact that America and Canada are buy* j ing butter at satisfactory prices.