BUTTER IN LONDON.
CAUSE OF THE RISE. SHORTAGE OF SPOT STOCKS. The rise in London prices for butter is attributed to a check to production in the Northern Hemisphere and to a consequent shortage of spot stocks. The current price for New Zealand, 95s per cwt., is the highest recorded since 97s vas touched in February. There has been an advance of over 5s within a week. Accompanying the rise has been renewed forward buying. For June shipment Hid per lb., f.0.b., equal to 94s 6d per cwt., London, Is being offered and for July shipment, 11 3-Bd, equal to 95s 6d. However, factories are now inclined to retire from the f.o.b. market.
As indicating the sound position of stocks, present holdings of all butters In London are estimated at only 13,362 tons, compared with,. 20,654 tons at this time last year and 28,513 tons in May, 1934 At this time last year New Zealand butter was selling at 77s per cwt..
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Waikato Times, Volume 119, Issue 19889, 19 May 1936, Page 8
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162BUTTER IN LONDON. Waikato Times, Volume 119, Issue 19889, 19 May 1936, Page 8
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