THE DAIRY INDUSTRY.

Auckland Star, Volume LIX, Issue 172, 23 July 1928, Page 4

THE DAIRY INDUSTRY.

HIKURANGI

A IiECORD. OUTPUT

The 24th animal report of the Hikurangi Daily Company, for the year ended May 31, 1928. rcveaLs thai during the year 5,396.5871b of cream w,is received, the average tc-st being 35.11S per cent. The yield of butter-fat wk 2,0-37.8301b, from which was manufactured 1122 tons lOcwt 131b, an increase over lat-t reason of 02 totw 9c wt 3qrTolb. and eauily a record for the eompany. The average grade was [>2.19, while SI per cent of the output was graded as finest.

Advance payment* for butterfat have been made as follow:—June, 1/4; July, August and September, 1/3; October, l.'3',i; Xovetnber to April, 1, 3: May, 1/5. The average advance was; 15.305 d, plus cost of cream collection, ,738 d per ]b of butterfat, and a premium oi" ,5d per lb for superfine butterfat.

1 Alter paying advances for butterfat- and all working, administrative and marketing expenses, there is a balance of £18,141. Depreciation on plant ;*id buildings will account for £2500;' dividend at 5 per cent on all eligible fully-paid chares will absorb £408, while on July 20 a further payment of 1.75 d per lb on all butterfat supplied during the season will amount to £15,005, leaving a balance of £227, to be carried forward. These commitments will bring the amount paid for butterfat, inclusive of cream collection, depreciation and dividend. up to 18.224 d per fb,«plus a premium of ,5d per lb on superfine butterfat. AUSTRALIAN PRICE-FIXING. t>u t! mie 5 the Inter-State Sub-Com-mittee of the Australian Butter Stabilisation Committee issued a statement in regard to the increase in the duty on butter to (id. a pound, which was made on June 15. The committee stated that large stocks of butter were held in store in Australia, and there!ore no advantage -of the duty could be taken in the form of increased pricey until the bulk of the stored butter had been .sold or exported. ''The position will be watched closely by the committee.''' the statement ended, "and action will be taken to safeguard producers' interests by maintaining prices on a basis that will prevent profits being made bv speculators who have imported butter from Xew Zealand, or who have made purchases of Australian butter in expectation of higher prices." When the statement was issued', remarks the '"Argus," the price of butter in Melbourne and Sydney was l/6!*2 a lb. By reason of successive advances, the price in each city rose to 1/8 a lb. The committee referred to speculation in New Zealand butter, but owing to the advance in prices holders of Xew Zealaud butter are now in a position to make a profit. It is stated that at the next meeting of the Stabilisation Committee the chief topic for discussion will be the revision of the Paterson plan, so that bounties and levies may I be increased under the protection afforded by the revised tariff. This will mean a further increase in the retail price.