MILK PRICES 



233 



to make any material reduction in the summer surplus. 

 Therefore dealers have operated on very narrow margins 

 at certain times during the winter months, the aim being 

 to make a profit on the season's business rather than to 



Fig. 34, — Relative Wholesale and Retail Milk Prices, New York City. 



make a profit on each month's business. ^ Where these 

 margins have been at all wide for any length of time, there 

 has been a strong tendency for small dealers to cut under, 

 often bringing on milk price wars. Even where prices 



' See Figure 21 for relative retail and wholesale prices in ten cities. 



