THE BUTTER POSITION.

Taranaki Daily News, 17 September 1917, Page 6

THE BUTTER POSITION.

AUSTRALIA'S OFEER AND PRICE. The London market is reported as "bare'' of butter with the official maximum prices unchanged, Irish being quoted at 201)3 to per cwt., equivalent to Is 10d to Is I'Hd per pound. Danish, Argentine, Xew Zealand, and other butters except French in so-ealled Paris rolls, are practically off the market, according to the High Commissioner. The maximum price for New Zealand butter is 20Ss per cwt., but as there are no supplies available there are no quotations. The reported acceptance of the Australian offer as cabled, to sell some 10,000 toils at £7 9s 4d per cwt., equal to Is per pound f.o.b. Melbourne or Australia, will form some indication of the Imperial Government's idea of vsJuc. If the Is 4.1 is to be taken as a guide in the acquisitin of the new season's New Zealand butter, then it is believed to be a full 3d per pound below butterinakers ideas of the value of their produce. At the moment, as the Prime Minister has stated, the problem of disposal of the new butter is not. yet solved. As regards last season's butter in store, that is now free for exporters to deal with and expert if they can obtain space for it but all butter coming into store on and after September 1 last is regarded •is new season's butter. From all indications, notwithstanding the large quantities of Australasian butter m store and en route to the United Kingdom,-there is a very great shortage of butter in the Old Country. Tho new make of both Australian and New Zealand butter will be ur n ently required. Much will depend upon'the dipping *P Ml! available to carrv is awav from the country of origin. Presumably " the A llst - ralian l>» rchase t of 10,000 tons will have space provided for it, as the Imperial Government is the purchaser. Xew Zealand exports of butter ha\e shrunk in volume since the war. with the exception of 1915, the position belt 4 inflows:--Export: 1»1j, 3u.),01b cwt- 1914. 39.j.1«); 1915, 417,135; 19l(i, 397.533: 1917, 355.75-2. Cheese exports have of course greatly increased, so that the milk liow has not been shortened, onlv diverted. At the same time, .concerns' which are concentrating on butter manufacture in the Dominion are becoming anxious to what is to be done \*ith their produce, seeing that nearly half of the lir-t month of the season has gone, and the fate of the butter is still in the balance.