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Show PRICE OF BUTTER TO DROP IN NEXT FIVE MONTHS Wholesalers and brokers on the Chicago Mercantile Exchange predict pre-dict the price of butter will drop 20 cents a pound in the next five months. Commodity experts said such a decline would result in at least a moderade drop in the price of milk and cheese. An avalanche of butter pouring into the market will wipe out the current inventory , scarcity and provide the tremendous seasonal surplus that is normal in peacetime, peace-time, the brokers and wholesalers said. Russell Fifer, executive secretary secre-tary of the American Butter Institute, Insti-tute, whose members make ten percent of the nation's butter, said that if present production trends continue butter probably will retail re-tail from 62-65 cents a pound in June. Dealers on the exchange said the price would drop steadily dipping to the lowest point of the year in June, the month of peak production. Their estimates on I the extent of the price drop ranged rang-ed from 14 to 29 cents a pound. Return to normal peacetime butter production early this summer sum-mer means that millions of pounds of butter must be sold to housewives house-wives who refuse to buy at today's prices, they said. |