THE BUTTER MARKET.

Wairarapa Age, 8 March 1927, Page 7

THE BUTTER MARKET.

ADVICES FROM GREAT BRITAIN. LOW QUOTATIONS. AUCKLAND; March 7. Further reductions in controlled prices for New Zealand butter on the English market are announced in cablegrams dated London, Friday, received by Auckland merchants. During the week-end New Zealand unsalted butter was further reduced 6/-, and salted 4/-. The prices named by the Dairy Produce Board are 164/- for finest butter and ’162/- for first grade; and new season’s butter from New Zealand outside the control of the board is now quote! m London at 4/- to 6/- below the named prices. The, cablegrams add that the market is stagnant. Up to the last week in February the named price for New Zealand finest butter was 176/- but slowness of sales brought about a reduction on February 2.3 of 8s in price. The drop in quotations evidently did not have the desired effect of stimulating consumption to such a degree as would enable accumulated stocks and heavy arriving stocks to be cleared, and the latest decline may be taken as evidence of a further attempt on the part of the board to clear the market to seme extent.

The latest quotations are equivalent to approximately Is 3.55 d per lb. for butter fat, the equivalent being Is 4.57 d to suppliers of home separated cream and Is 3.6’5d to whole milk suppliers.—(P.A.)