THE BUTTER MARKETS.

Taranaki Daily News, Volume XLVII, Issue 8046, 7 February 1906, Page 3

THE BUTTER MARKETS.

DROP IN PRICES. I HIGH COMMISSIONER'S REPORT. ""The following cable has been received by tip Department of Industries and Commerce from the High Commissioner, dated London, 3rd inst: The mutton market is very unsettled, llivcr Plate mutton is in large supply. Stocks of New Zealand mutton on hand arc light. The average price to-day for Canterbury mutton is tjd per lb. Light weights, of which there is a limited supply, 4d per lb. Heavy weights (for other than North Island mutton) :iid per lb. The lamb market is quiet, stocks on hand being heavy. This season's NewZealand lamb is od (noniii a 1). Tl-c average price of Australian lamb is 11 p:r lb, The beef market is very dull. The average price to-day for hindquarters of New Zealand beef is 3Jd per lb, fores 2 7-Sd. Quotations for NewZealand beef arc noiuiual. The butter market has collapsed. American renovated aud mixtures arc in large supply, seriously affecting the buying market, which is weak. Holders are anxious to sell, but buyers are holding back, expecting prices to go lower. Supplies will be moderate The price of choicest New Zealand butter to-day is 10<is per ewt, Danish Ills.

The cheese market, is quiet, prices being .sliglitly weaker. Transactions in cheese arc very limited, Now Zealand being quoted at Ms per ewt. Buyers have been offering for cocksfoot seed weighing 171bs per bushel 51s per ewt. > The wool sales liuve closed witli a firm market ami ail upward tendency, prices being fully equal to the closing rates of the last sale. Estimated values—Fine crossbred (all'grades) Is Id to Is 3d per lb; medium crossbreds (all grades) lid to Is Id per 11); coarse crossbreds (all grades) 9id to Is Old per lb ; superior merino Is Id to I s :Ud per lb; medium lid to Is Id per lb; nferior Hd to lOid per lb. [Owing to some at present unexplained oversight, the above intelligence which should have been received by us on Monday night, was not wired by the Press Association.]

A>" INTERESTING INTERVIEW, I'KICES STILL AHEAD OF PIiKVIOL'S YKAIiS.

I'Kli I'IiESS ASSOCIATION. Wsimxutok, February G. Referring to tlic High Commissioner's cable re the fall in tlic price of butter, Mr Sliirtcliffe, resident partner ill the firm of A. S. I'ateison and Co., said tliis could uot be looked upon as altogether unexpected, because we were now getting on tow ards the eml of the season. The butter market was at its highest at Home at about Christmas time (mid-Winter), and we should naturally look for lowering price from now forward, but he did uot anticipate* any further serious decline.

Il had to borne iu miml in reading the High Commissioner's report that the late price wlin.li liatl ruled for our butter (11.8s per cwt.) was an abnormally high priee. From particulars which lie had gathered from the records of Mr Reeves' reports kept by the office of the Department of Industries and Commerce, Mr Shirteliffc found the following interesting comparisons, which go to show thai to-day's prices still tee]) well ahead of those recorded at similar periods iu previous

years. The following were the prices of New Zealand butter in London at (a) nbout Christmas time aud (b) Iroin the early part to the middle of 1' ebruary : —IHU-i-i —per cwt. (a) 100s_ per cwt. fb) 975. I'JUI-s—loos and 102s. Ulo3.fi—life and 106s. JJr ShirtelilYe concluded his interiie»' with this perlinrnt i|uestion: Why l»i< our butter been so high this year compared with the two preceding years, italic effects of adulteration arcso disastrous as they have been alleged Jo be? Another butter expert expresses no alarm at the fall in prices, and says fluctuations at this time of the year must be looked for. lie, 100, expresses no fear of " faking " having a disastrous result on the New Zealand article. _