THE BUTTER MARKET

New Zealand Herald, Volume LXXI, Issue 21937, 22 October 1934, Page 12

THE BUTTER MARKET

Dear Sir,—-The little cameo presented by "Goodwill" in Thursday's Herald seems to hare quite upset "Co-opera-tive." It is difficult to see how any of the various red herrings he drags across the trail disposes of the irresistible conclusion drawn from "Goodwill's" statement, that the present low state of thrf market is the result of the loss of pood will and buyers' resentment at th«* interference of the Dairy Board. "Goodwill's" figures show that notwithstanding a drop of 33 1-3 per cent in the price, the sales of our butter have declined 80 per cent compared with September. Clearly, former buyers of New Zealand are securing their requirements from other countries, otherwise our sales would increase, not decline.* There is no need to delve into the import figures for nine months ended September, as they only represent an increase of approximately 14 per cent in the supplies compared with the previous nine months' import". "Co-operative's" reference to f.o.b sales of cheese and present London values is particularly unfortunate. Jf "Co-operative" took the trouble to in quire from the Dairy Board he would probably find the f.o.b. sales of cheese for September merely represented the execution of outstanding contract? entered into before the board's regulations became operative. As to the London values of cheese, seeing that we supply 75 pgr cent of the imports, that is. we almost a monopoly, only "Co-operative" would be able to see any affinity between the market position of butter and cheese. Febklea*.