PAYMENTS FOR BUTTER-FAT

Taranaki Daily News, 27 September 1930, Page 5

PAYMENTS FOR BUTTER-FAT

’ A-/.'; " ' 7Aa7> '7 AUCKLAND’S AUGUST AVERAGE.. The average payment of dairy companies in the Auckland Province for but-ter-fat. supplied during August has been Is per pound. The majority of the companies have paid on that basis in respect of butter, and some have advanced Is Id, while pay-outs in respect of butterfat used in cheese manufacture have been made .up to. Is . In August last year butter suppliers received advances averaging Is 4d. Although the. drop is substantial, a compensating circumstance is that the quantity of produce is considerably greater this season than it was at the opening of last season. Advances in excess of Is were not justified by the prices recently ruling on the London market, and apparently they had been' made where there was competition for suppliers, said an Auckland inerchant. No buying was being done, except for the Canadian ihafket, and the advances against consignments were lid for finest grade butter and lOijd for first grade. The prices quoted overseas recently averaged 1275, representing Is f.u.b Companies now advancing Is per pound for butter-fat were thus retaining the amount involved in the over-run to meet working expenses.