BUTTER DOWN AGAIN.

Taranaki Daily News, 1 October 1921, Page 4

BUTTER DOWN AGAIN.

PENNY CHEAPER ON MONDAY. CHANGE ONLY TEMPORARY. The retail price of butter in New Plymouth will be reduced by one penny per lb. on Monday morning. The decision to make the reduction was arrived at by the New Plymouth retailers last night, upon receipt of information of a reduction in the wholesale price. Butter in pats now selling at 2s 4d per lb. will be reduced to 2s 3d and bulk butter will be reduced from 2s 3d to 2s 2d.

Speaking to a Daily News representative last night, a leading retailer said that he anticipated a still further fall in the near future. In his opinion butter would probably come down to 2s per lb. unless the Home market quickly corrected itself.

The general opinion expressed yesterday by business men connected with the butter industry was that there would be a fall in butter prices shortly, but that it would be only temporary. Questioned as to the reasons for the anticipated decline a member of one firm said that the only influence regulating the local price of butter was the Home market. At present the Home market was low and consequently the local price must necessarily move in sympathy. He deprecated the sensational ramors of tumbling prices, giving it as his opinion that the reductions would be only temporary and that there was a likelihood of the price again improving at Home, probably before Christmas, when the New Zealand price would again go up. “In reality,” he said, “a lowering of prices at Home will be a good thing for the butter market, as this will tend to reduce the heavy stocks held by the Government and thus clear for a fresh demand.” Although he would not say that the prospects for butter from the producers’ point of view were particularly bright he was confident that prices in England would again become firm in he near future.

THE LONDON MARKET. THE LATEST QUOTATIONS. By Telegraph.—Press Assn.—Copyright. London, Sept. 29. The Government has reduced the prices of New Zealand butter by 15a per cwt., Australian and Argentine 20s per cwt., making the price of first grade New Zealand 205, Australian 184 s, Argentine 1655. The Danish quotation is about 230 e landed. The Bank of New Zealand has received the following advice from its London office, under date September 28: — The market for butter and cheese is weaker with downward tendency. Present quotations are:—-Cheese, colored, 8&j to 92s per cwt.; cheeae, white, 92s to 96s per cwt.; butter, 200 s per cwt. REDUCTION IN AUCKLAND. By Telegraph—Press Association. Auckland, Last Night. A reduction of in the wholesale price of butter operates on Monday and means a reduction of a penny in the retail price.