BUTTER MARKET DULL

Sun (Auckland), Volume III, Issue 894, 11 February 1930, Page 12

BUTTER MARKET DULL

AN INTERESTING REVIEW The butter market has continued very slow, with prices around 152 s to 1565. during the month, states an interesting review of the dairy produce market published by A. U. Turnbull and Company, Xew Zealand, representativesc of W. Weddel and Com-

pany, Ltd., London. Weddel and Company, Ltd., advise, states the report, that in spite of the fact that the retail price was reduced to Is 7d, the market remained dull and uninteresting during the whole of January. Large buyers are continuing to operate very sparingly. Australian butter , has been offered for January and February shipment on the basis of 148 s and 150 s. c.i.f. The economic position, both in the United Kingdom and on the Continent, has not improved and. in consequence of this. any material alteration in the butter quotations in the meantime cannot be expected. There has been a distinct improvement in the cheese position during the month and a rise on an average of 4s since early in January has been experienced. Considerable interest was shown in forward cheese during January and quite a number of factories have been able to sell their January to end of season’s make at Sid net. f.0.b., while in some cases as high as S 3-Sd net. f.0.b.. has been paid for January and February make only. Buyers have not been particularly keen and declined to give open orders, the bulk of the business being done on firm offer from factories. Weddel and Company, Ltd., advise us that the advance in prices is largely due to the wholesalers and multiple shops buying more heavily in order to cover their requirements for the next three weeks, as the arrivals from Xew Zealand are on the short side. In view of the sound statistical position Weddel and Company, Ltd., expect the market to remain steady in the immediate future.