N.Z. BUTTER.

Grey River Argus, 13 October 1926, Page 4

N.Z. BUTTER.

RETAIL PRICE FALLS.

On London Market.

(Reeed. Oct. 12 at 7.30 p.m.)

LONDON, Oct. 11

The “Daily Mail” says: “It is understood that butter speculators will lose heavily through a penny reduction that has been made in the retail price of New Zealand butter.”

According to one leading buyer the New Zealand producers took the lead in trying to control the price by storing. If the prices had been reduced a month ago, the producers, the importers and the consumers would have benefited, but now the benefit has gone to the banks and to the cold storage firms. There has been a general increase in the imports of butter from European countries.

A Warning From Argentine. FURTHER BUTTER SLUMP. tile new competitors. (Received October 12 at 11 p.m.) LONDON, October 12. Mr O’Callaghan, a former Australian dairy farmer, is now visiting Europe on behalf of Argentine interests. He is of the opinion that Argentine is now Australia’s most dangerous competitor in meat, in butter and in beef. The Argentine butter is already equal to the best Australian butter, and it eventually will be as good as the best New Zealand article. Mr O’Callaghan predicts that there will be a further slump in both Australian and New Zealand butters, when the present accumulations are released from storage. He sounds a warning against what he terms fatuous attempt to control the market in the face of the opposition of the Continental and Argentine supplies.