PRICES FOR BUTTER.

Taranaki Daily News, 27 December 1922, Page 8

PRICES FOR BUTTER.

STABILITY IN LONDON. NO CHANGE IN VALUES. With butter production in the province proceeding at a record rate, the London market position, as the apex of the season approaches, is of vital importance to the producers. Hitherto the market has been satisfactory, a declining movement early this month having been arrested at 170 s per cvzt.> and a recovery made to 184 s. The latest London quotations for New Zealand butter range from 180 s to 184 s per cwt. Discussing the market position on Wednesday, an expert in Auckland expressed the opinion that the present prices probably would continue throughout the Christmas holidays. Heavy arrivals late in December and early in January would no doubt have some effect on the market, but much would depend on the manner in which the sales were regulated. The Dorset, due to arrive this week, had a shipment of 93,670 boxes, and the Waimana should reach London early next week with 98,296 boxes. During the first ten days of January the Ruahine, Mahia, and Durham should arrive with a total of 194,550 boxes. This made a grand total of 386,516 boxes, or nearly 10,000 tons of New Zealand butter that would arrive between now and January 10. It was obvious, added the speaker, that the disposal of such a large quantity of butter within a period of about three weeks would have some effect on the market. Moreover’ if any delay occurred in tb.e arrival or marketing of the first two shipments, it was possible that the whole of the consignments would reach the market almost simultaneously. In the circumstances it was practically certain that unless good judgment was exercised in regulating the supplies to the market, the satisfactory prices now being obtained must suffer a seiious decline.