ANOTHER FOUR SHILLINGS

Evening Post, Volume CXII, Issue 57, 4 September 1926, Page 10

ANOTHER FOUR SHILLINGS

FRESH FALL IN BUTTER

London market weak

"WILL STOBAGE-BESEBVE PBICES >■" " BE BEACHED?

There are a million boxes of butter stored in London. Oi these 650,000 an? Now Zealand better, of which at least 80 per cent, is said to be held by, or on behalf of, dairy companies (not by the TSTew Zealand Dairy Producers' Board) for reserve prices. On sth September of last year New Zealand butter was quoted in London at 198s to 200s for salted. On 3rd September of this year Messrs. Dalgety and Company report New Zealand finest at 160s to 1625. A study of quotations since May of ; last year indicates that New Zealand butter has been down to 102s only once . in that period, and that was for a few i days at Christmas. The cablegram containing the quotation of 3rd September (Friday) has been received under that date by Messrs. Dalgety and Company from their London house and is as follows. ' 'Butter —Since our report of yesterday, prices are 4s per cwt lower. Market very weak and irregular.- We quote New Zealand finest 160s to 1625." ■ Apart from all matters of opinion as to whether the principle and the policy of the New Zealand Dairy Producers' Board are good or bad, it has to be admitted that the board has entered into absolute control at a critical time, in circumstances of unusual difficulty, and confronted with an accumulation of reserve price butter the marketing of which presents a very big problem to everybody concerned.