Butter Pay-out Unchanged

Press, Volume CVI, Issue 31094, 24 June 1966, Page 3

Butter Pay-out Unchanged

(N.Z. Press Association)

WELLINGTON, June 23. The Dairy Board will buy butter from dairy companies in the 1966-67 season at a price which will enable the companies on the average pay to pay suppliers 33.9 d a pound for butterfat, the same return as in the 1965-66 season. The price has been fixed by the Dairy Products Prices Authority. The decision of the authority was announced today at the Dominion dairy conference by the chairman of the board (Sir Andrew Linton).

A letter from the authority said the basic purchase price for creamery butter next season would be 31.06 d a pound, and for whey butter, first grade, 29.06 d a pound. In calculating the butterfat price from the butter price, an overrun of 1.216, the latest fiveyear average, was used. The authority said that quality differentials had been fixed at the same figures for the new season as last season.

Under the new pricing system adopted by the indus-

try last year, the cheese purchase price is fixed by the Dairy Board. At the start of, each season, the board fixed | a conservative advance purchase price to be paid for cheese during the season comparable with the advance purchase prices for milk powders and casein in association with butter. At the end of the season, the board fixes the final purchase price at a level where the average return to producers for cheese will equal the

average returns for butter, casein and skim-milk powder.