DEFINITE IMPORT INFORMATION STEADIES BUTTER MARKET.

Tendency Toward Higher Prices—Danish Butter Has Sentimental Effect on Market.

Butter trading was on a more confident basis during the week ending Oct. 1 and the markets developed a steadier tone as a result of definite information regarding the quantities of Danish butter expected to be available in the near future. The persistent rumors of large shipments which during the previous week were partly responsible for the unsettled condition were soon quieted, and operators took a more conservative attitude. There was less pressure to sell and buyers were inclined to purchase more freely.

Price changes were small, but there was a general tendency toward a higher level, advances of 1⁄2¢ to 1¢ being registered on all markets on the finer grades of butter. At times the supply of fancy butter was somewhat in excess of the demand, but any efforts on the part of the sellers to get prices down were always met with an active buying demand from distributors and speculators. It was a good, steady market with holders usually free sellers and buyers taking immediate requirements readily at current prices.

MARKET ON UNDERGRADES IMPROVED.

The market for undergrades was somewhat more active. The heavy supply of last week showed but little if any reduction, and current receipts consisted largely of undergrade butter. The quality of receipts generally was reported considerably better during the week and this no doubt was largely the cause of the improved market in undergrades. More interest was shown in undergrades by buyers who bought for immediate needs or who got such price concessions as to make their purchases bargains, but as a rule dealers found it impossible to move all their undergrades even at large price reductions.

Receipts for the week show but little change from previous weeks. It was generally expected that production would gradually decrease in spite of the fact that conditions for a good fall production have been favorable. Hence, the latest available report from the American Association of Creamery Butter Manufacturers showing an increase of 9.8% over last year and an increase of 0.44% over the previous week came as a surprise. The storage holdings for the four markets showed a marked decrease during the week. The decrease was most pronounced at Chicago, indicating a movement of storage butter from there to other markets.

The S. S. Frederick VIII arrived during the week, carrying a cargo of 1,250 casks of Danish butter, which did not become available until Friday. Part of this butter was reported sold at prices ranging from 443⁄4¢ to 451⁄2¢, depending upon the size of the lot. The S. S. Heligolav and Drottingholm now afloat with combined cargoes estimated at between 3,000 and 4,000 casks. The Oscar II, which sailed from Copenhagen on Sept. 30, is also expected to carry some butter. The effect of the Danish butter on the markets has been largely sentimental, causing operators to act somewhat more conservatively.

WHOLESALE PRICES OF BUTTER AND CHEESE FOR WEEK ENDING OCT. 1.
[Cents per pound.]

CREAMERY
BUTTER
(92 score).		New
York.		Chi-
cago.		Phila-
del-
phia.		Bos-
ton.		San
Fran-
cisco.
Monday44 43 45 44 441⁄2
Tuesday44 43 45 44 443⁄4
Wednesday44 43 45 45 443⁄4
Thursday44 433⁄445 45 45
Friday44 44 45 45 451⁄4
Saturday441⁄244 45 45 45
Average for week44.0843.4645.0044.6744.87
Previous week44.0042.5044.5844.3343.71
Corresponding week last year60.9158.5060.8360.5863.04
AMERICAN
CHEESE.
(No. 1 fresh twins.)		New
York.		Chi-
cago.		Bos-
ton.		San
Fran-
cisco.[1]		Wis-
con-
sin.
Monday201⁄2-211⁄2193⁄4-201⁄222-23 211⁄4191⁄2
Tuesday201⁄2-211⁄2193⁄4-201⁄222-23 203⁄4201⁄2
Wednesday201⁄2-211⁄2193⁄4-201⁄222-221⁄2203⁄4193⁄4
Thursday201⁄2-211⁄2193⁄4-201⁄222-221⁄2203⁄4193⁄4
Friday201⁄2-211⁄2193⁄4-201⁄222-221⁄2203⁄4195⁄8
Saturday201⁄2-211⁄2193⁄4-201⁄222-221⁄2203⁄420
Average for week21.0020.1322.3320.8319.85
Previous week20.8720.0021.4221.2919.58
Corresponding week last year27.6326.5629.9133.2526.46