BUTTER PROSPECTS

Dominion, Volume 19, Issue 313, 30 September 1926, Page 12

BUTTER PROSPECTS

MUST GET USED TO LOWER PRICES SMALLER PAY-OUT TO SUPPLIERS BI TELEGRAPH.— PRESS ASSOCIATION. Christchurch, September 29. At the annual meeting of shareholders of the Canterbury Central Co-opera-tive Dairy Company this morning, the chairman (Mr. H. T. Chapman) told those suppliers present that it appeared as though they would have to get used to lower prices. He further stated that the shipping strike had held up supplies here, and as soon as butter landed in the Old Country another strike at that end happened along. Ihe consequence of this was that butter in December was 265. per cwt. lower than for the same month in the previous year. Unless there was a big improvement, the pay out for the coming season must be a good deal smaller than usual. . Regarding sto’cks at Home, he said that the directors were up against a difficult problem in knowing what was the best thing to do. It was just a question of what was going to happen in the London market. The Dairy Control Board had taken charge of exports as from Setpember 1, and the prices thev had agreed to pay were Is. 3d. for finest grade, Is. 2ld. for first grade, and Is. XRI. for second grade. The day for the time being of high prices appeared to have gone, and there was no doubt that they, would have to get used to smaller prices. Tn reply to a question the chairman said that the Dairy Control Board would not affect local sales, which would still be controlled by the factories.