BUTTER SLUMP.

Grey River Argus, 14 October 1926, Page 5

BUTTER SLUMP.

EFFECT IN N.Z. 142 s PER CWT Al’ LONDON. REDUCTION MAY INCREASE DEMAND. LONDON, October 12 Commercial circles consider that New Zealand blundered in consuming butter supplies in the attempt to maintain prices. A prominent firm thinks that New Zealand should have been satisfied to meet the market at 155 shillings preventing a glut, resulting in to-day’s prices; New Zealand and Australia 144/- and 142/- respectively. The public realising the quantities are available will only provide fox immediate needs, wherefore a further reduction of a penny a pound retail is the suggested remedy. A further retail reduction is likely to increase the demand. CONTROL BOARD EXONERATED. AUCKLAND, October 13. kr J. Allen, replying to criticism of Lis recent remarks, at a meeting of the S HL;cutivc of the Farmers’ Union, said it satisfaction to him to know there was no truth in the suggestion that fixation of prices was part of the policy of the Board, lie was quite in accord with the farmers’ ideas abou. the duty of the Dairy Board to ehm-l inate speculation and unnecessary over head charges. Captain Rnshworth said it was will known that speculators had been making fortunes out of speculations in New Zealand butter on the London rnaiket, and the Board had been established to protect both the consumer and the Allen’s letter was formally received. board OVER rAID'POSITIONS. WELLINGTON, October 13. Rumours are current that there has been a sharp disagreement on the Dairy Produce Board as to the position of some of the paid members It is said that a resignation may follow. The new members tabled a rtso tion asking for a distinct disavowal ot any price controlling* SYDNEY PRICE REDUCED. SYDNEY, October 13. The wholesale price of butter has been reduced here by a halfpenny per lb. to 172 s 8d per cwt.