TOO MUCH BUTTER.

Dominion, Volume 1, Issue 194, 11 May 1908, Page 3

TOO MUCH BUTTER.

NEW ZEALAND OVERSTOCKED. 20 PER CENT. 'MUST BE EXPORTED. A Press Association messago states: — A mooting held 'at Stratford,-'and convened by the National Dairy Association,; dccided to recommend all .butter factories to ship by the' next Home steamer at per cent, of .tho butter; then in.'store, .and continue shipments as,seem desirable.

The reason for, this'recommendation is not definitely stated, but apparently it. is realised that Now Zealand is becoming fast over-supplied with butter, and unless some joint measures arc taken to. relieve the accumulation- there, will bo a considerable quantity of stored butter on hand when next season' 'begin*. This newest development overwhelmingly Asilenccs those who or lato so _ continually predicted a butter famine for this winter, even if that were not .already done by tho fact that there is oiiough butter in st-oro to-day to feed us all for tho rest of. the season:, ' Whether' the recommendation will be acted on is quite an open question. .The ,100 a! price of butter is. still too high to warrant ■ exporting! Some huttors aro retailing in Wellington at Is. 2d., many brands are obtainable at Is. Id. The relative values of the' local; and tho •London market are shown in those figures: Butter for London!— ' .. -Price' in'Condon,,- per lb. ......... . Hid. Freight, ctc. ....... Net . value on Wellington wharves IOJd. Butter.for Wellington:—, . London, net value .................. IOJ-d. Cost of patting, etc. , : ~/• jd. Not wholesale ' valiio -IOJd., Apparently;, there is no strong case for exporting till the local retail, price, falls below a shilling 'a'' pound. Moreover, tho likelihood of.a. drop in the London price appears greater than the likelihood of a lisc. ■ ■' . . •