Dairy Prices

Waikato Times, Volume 121, Issue 20284, 28 August 1937, Page 8

Dairy Prices

NEW RATES FIXED BUTTER NOT BELOW 13.88 d CHEEBE PAY-OUT, 15.88 d LENGTHY CABINET MEETING (By Telegraph.—Special to Times.) WELLINGTON, Baturdcy The guaranteed prices for the ourrent dairy season were announced by the Minister of Finance, the Hon. W. Nash, this afternoon after a Cabinet meeting lasting five hours. Mr. Nash said the Government had decided to purchase all the butter manufactured for export In the current dairying season at 134 d per lb. and that this price should result In a pay-out by the average efficient dairy factory at not less than 13.88 d per lb. butterfat supplied for butter. Cheese will be purchased at 7.54 d per lb., which should return the equivalent of not less than 15.88 d per lb. of butterfat for cheese. The cheese differential of 2d per lb. Is In accordance with the .policy announced by the Government some time ago and all other arrangements In connection with grading, etc., will be In accordance with the procedure now being followed. The Minister also announced that a full statement would be Issued to the press on Monday and this statement would be supplemented by a broadcast on Monday evening. The Increase on the amount paid out for butter Is .69d per lb. and the Increase for cheese, .7 28 d per lb. LAST SEASON’S PRICES BUTTER AT 12 9-16 d CHEESE RATE, 6 13-16 d For the last season, from July 31, 1936, to August 1, 1937, the basic f.o.b. guaranteed prices for butter and cheese were fixed as follows: Per cwt. Per lb. s cl d Finest grade creamery butler scoring 93 or 93J points ... 117 3 12 9-16 First grade whey butter scoring 83 points and over . 107 11 ll 9-16 First grade cheese scoring 92 or 92i points 63 7 6 13-16 The basic f.o.b. purchase prices of cheese and whey 'butter were fixed to yield, under average factory conditions, a margin of 14d per ih. butterfat processed into cheese above the average price of butterfat processed into butter.