PROSPECTS FOR BUTTER.

Putaruru Press, Volume III, Issue 94, 13 August 1925, Page 7

PROSPECTS FOR BUTTER.

EARLY SEASON’S MAKE. Enquiries for F. 0.8. Sales. The question of f.o*b. sales croppedup at the annual meeting of the Morrinsville Co-op. Dairy Co. on Thursday, when it was stated that there were favourable prospects for the sale of the August, September, October and November output. The chairman, Mr. F. W. Seifert, stated that during the past season the whole of the manufacture, with the exception of a small quantity in May, had been sold on consignment. During tiie last few days the company had received an invitation to sell the August, September and October outputs at Is 7id per li;>. The November at Is 7id per lb and the November mean a payment to the suppliers of about Is 8d per lb butter-fat. He would like an indication from the meeting as to what they were to do. Mr. Ross was glad to see the directors had the courage to place the prices before the meeting. Mr. P. McNaughton moved, and Mr. Sharp seconded, that the directors should accept these prices. The secretary (Mr. J. L. Faulkner) said that they were not definite offers, but merely enquiries. Mr. Ross moved an amendment that the matter be left to the directors’ discretion. Mr. V. Brunt seconded. Mr. O’Brien considered that the directors were in the best position to know, and supported the amendment. The amendment was carried without dissent. Mr. Topham said that although the amendment was carried, he would like an indication as to whether the meeting favoured selling on an f.o.b. basis as against consignment in this case. Mr. J. E. Leeson said that as no one could foretell the seasons in the various countries, they, therefore, could not forecast prices. Mr. Ross said it was a matter of principle. A voice: A bird in the hand is worth two in the bush. j The chairman said that the prices suggested were better than those at which butter had been so id up to the present. Mr. Ross considered that the butter bought on the f.o.b. basis was used in hammering down the prices. Mr. Topham: If we get Is 7id we can sit on the rest. Mr. F. K. Tompkins (a director) said that he had always been in fav-j our of selling August and September butter, as owing to the conditions on the farms it was impossible to manufacture the best quality at that period, and it was doubtful whether it would keep. If these prices cropped up he would support the acceptance of these tempting- offers. Mr. J. Brown (also a director) said he also would favour accepting the prices suggested.