The Butter Industry in the United States An Economic Study of Butter And Oleom

Cover The Butter Industry in the United States An Economic Study of Butter And Oleom
The Butter Industry in the United States An Economic Study of Butter And Oleom
Edward Wiest
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The quotations rose suddenly and this caused many complaints from England, but it was only a short time before premiums were again paid. In 1906, an agreement was reached between the pro- ducers and dealers by which the committee quoting prices was to consist of four representatives of the farmers and four merchants. In 191 2, the farmers demanded that the chairman of the committee should be one of the merchants but should have no vote, thus giving the producers a ma- jority. This caused a rupt...ure and the producers started their quotations. Since then producers' and merchants' quotations have both been made and the two have probably a very healthful effect in arriving at a fair quotation.
Obviously the best way to establish quotations is to sell at an open auction providing that enough butter of all the grades is offered. This was formerly possible under the " call " in the exchanges but since the " contract system " has gjown so extensively, the butter offered under the "call" is hardly sufficient to establish a representative price.


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