Cut In Butterfat Price Forecast

Press, Volume CVI, Issue 31341, 11 April 1967, Page 1

Cut In Butterfat Price Forecast

(New Zealand Free* Association) NEW PLYMOUTH, April 10. Possible decreases in the basic price of butterfat were forecast by the chairman of the Dairy Board, Sir Andrew Linton, at the Stratford ward conference yesterday.

“All I can do is express an opinion that prices could drop, as it would be unwise to increase the debit at the Reserve Bank,” he said.

“It is too early to say yet, but the general feeling of earlier conferences I have addressed was that the price might come down,” Sir An-

drew Linton told the conference of more than 200 dairy company directors. No pressure had been placed on the board to reduce prices, but he said the price of butter could not be taken in isolation from other dairy products. Replying to questions, he said the butter account of the Dairy Board was expected to show a debit balance of £6.67 million on May 31. Cheese, however, was expected to show a credit balance of £2.6 million, of which £1.6 million would be transferred to the butter account.