STRONG BUTTER MARKET.

Shannon News, 9 January 1923, Page 3

STRONG BUTTER MARKET.

ANOTHER ADVANCE SOON. CHEESE ALSO BUOYANT. LONDON, January 7. The butter market Is displaying: great strength, although over 270,000 boxes arrived this week from Australia and New Zealand and further quantities afloat, bound for Britain from these countries, are about 394,000 and 584,000 boxes respectively. The market has been strengthened by cabled reports of dry weather in New South Wales and Queensland, but the principal cause of the firmness is the splendid consumptive demand, which so far has not been affected by the increase in the retail price to 1/10 a pound. This price gives the retailers little or no profit, and an advance to 2/ is probable next week and possibly this may serious y curtail The demand, but the quality is. so good that many consumers will cont nu J to purchase. Another feature of the strength of the market is the Continental demand, which is ab sorbing the greater part of Denmark’s output, us the United States appears to have stopped buying Danish, takim: New Zealand instead. It is reported here that the United States has pur chased 150,000 boxes of New Zealand butter for direct shipment.

The cheese market is also very strong, owing to short supplies, it is estimated that available stocks of all cheese arc- only about one-quarter of what they were last January, and as prospective supplies of imported cheese appear to be considerably below the average consumption, high pr ces will probably continue. Tho retail price at present is 1/2 a pound, and an advance of twopence is probable.

LATEST QUOTATIONS

WELLINGTON, Last Night.

The National Dairy Association luo. received the following cable from London office, dated January 6, 192.": The butter market is firm at an advance, but the demand is not so keen. Quotations: Salted New Zealand finest 192/ to 194/; line, 190/ to 192/; Australian finest. 190/ to 192/; other qualities, 180/ : to 188/; Argentir. . 160/ to 184/. Unsalted, 196/.

The cheese market is firm. Nevv Zealand, 130/ to 132/; Canadian, 130/ to 132/,