THE BUTTER MARKET.

Taranaki Daily News, Volume LI, Issue 194, 6 August 1908, Page 2

THE BUTTER MARKET.

PKICES STJLL JOAIPING. LHxELX TO BEACH 2s KEi'AIL. 'CAUSES OF ITHE INCUBATE i EXPLAINED. By Telegraph.—Press Association. Wellington, Last Night. The entirely unexpected shortage of butter in Sydney is having a disturbing influence upon the Wellington market, and prices are likely to go up here as in New South Wales. Butter is 200s per cwt. to-day, and it is eonndently expected that it will reach 2s retaii. The retail price, it should be understood, is for butter taken from bulk and patted up in the shops, and not as in New Zealand put up in pound pats and wrapped up ready lor sale. Australian buyers have made and are likely to make raids on the already short local stocks. Sales have been ellcetcd for cash in Wellington at Is 3>/,d per lb for Australia, and 700 boxes" will leave here for Sydney on Friday. Holders are asking Is 4d per lb. and are likely to get it. This is for butter f.o.b. at Wellington. It is considered that it risoAn me price of butter in Wellington isTnevitable. Butter to-day is Is 4d and Is fld per lb retail, i.e., li/ 3 d advance on the wholesale quotation," The head of a firm doing a big relai business stated to-day that there was still in store butter bought by locnl (inns as far hack as last March at Is ly 2 d per lb, and taking the storage, interest., railage, mid handling into account, the wholesale price of Is Zy„ to Is ll'/jd per lb for best 'brands didnet leave an abnormal profit to the merchant. The phenomenally high prices ruling on the London market last season induced heavy shipments from New Zealand, which could ill be Spared considering the stringency caused by the drought. Then came a demand for our butter in South Africa, and the last straw is an Australian shortage.