LONDON BUTTER TRADE.

Timaru Herald, Volume CXXIII, 13 October 1926, Page 9

LONDON BUTTER TRADE.

Heavy Losses Foreshadowed

WRONG POLICY ADOPTED. By Cable —Press Association —Copyright. Sydney “ S-in ' 1 Service. (Received October 12, 7.10 p.m.) LONDON, October 11. The “Daily Mail” says that it is understood that butter speculators will heavily through Id. reduction in the’ new retail price. According to a leading buyer, the New Zealand producers took a lead in trying to control the price by storing. ll' prices bad been reduced months ago, the producers, importers, and consumers would have benefited, but the benefit has gone to the banks and cold storage firms. There has been a general increase in the imports from European countries. ATTEMPTS TO CONTROL MARKETS. DENOUNCED BY AUSTRALIAN AUTHORITY.

By Cable —Press Association—Copyright, Australian and N.Z. Cable Association (Received October 12, 10.35 p.m.) ; LONDON, October 12.

Mr O’Callaghan, former Australian dairy farmer, is visiting Europe, on behalf of Argentine interests. He is of opinion that Argentine) is Australia’s most dangerous competitor in meat and butter. The best Argentine butter is already equal to the best Australian, and eventually will be as good as the best New Zealand articlo.

Mr O’Callaghan predicts a further slump in Australian and New Zealand butters, when accumulations are released from storage. Ho sounds a warning against the fatuous attempt to control the market in face of the opposition of Continental and Argentine supplies.