THE NEW ZEALAND CO-OPERATIVE PIG MARKETING ASSOCIATION, LIMITED

Press, Volume XCVII, Issue 28701, 26 September 1958, Page 13

THE NEW ZEALAND CO-OPERATIVE PIG MARKETING ASSOCIATION, LIMITED

Turnover A Record

"In this, the Company’s twentysixth year, it is pleasing to report a record turnover and further consolidation of its Assets,” said Mr W. A. Phillip \ Chairman of Directors, when presenting the Directors’ Report at the Annual Meeting of the New Zealand Co-opera-tive Pig Marketing Association, Ltd., held in Auckland yesterday, in the presence of some 300 Shareholders from all parts of both islands.

"Turnover, including that of Subsidiary Companies, has again been maintained at a high level and stands at £5,150,000. With the continued loyal support of suppliers it is confidently anticipated that the steady progress shown over the last 26 years will continue.’’ Mr Phillips went on to say that the P.M.A. subscribed Capital now stood at £382,000 and was paid up to £157,000 and the Company’s operating funds now totalled £887.000.

“Year ending Final Payments to suppliers on all classes of dairy farm livestock were £173,000.” said Mr Phillips. It was certain that these Final Payments, when added to the Advance Payments already made, would leave no doubt that the over all return would show a substantial advantage to suppliers over the average alternative outlets for their pigs. Operates Throughout N.Z. The livestock handled during the year, including pigs, bobby calves and cattle, totalled just under 653,000. The Company’s operations extended over the whole of New Zealand as did also that of its Subsidiary Bacon Companies. The Chairman emphasised the value in having a permanent local outlet for bacon pigs, and this was again evident last year when the return for baconers on the export market was not sufficient to cover the schedule to the supplier and the costs incurred.

The four Kiwi Bacon Companies at Auckland, Palmerston North, Christchurch, and Milton, Otago, had continued to develop until to-

day they were supplying a large proportion of bacon, ham and smallgoods sold in this country. Prices Should Remain Satisfactory Continuing. Mr Phillips stated that markets for pigs, bobby calves and cattle produced overall, considerably improved prices to suppliers than for the previous year and that prospects for the current year seemed bright for continuing satisfactory returns. Ha appealed to Shareholders to make every effort, especially by more careful feeding, to turn off their bacon pies in a leaner condition. The demand for leaner bacon eould only be met by leaner pigs, and this was essential if consumption was to be maintained at the highest levels and Which was now more vital than ever to safeguard the producers' market for baconers.

“The production of dried milk products showed little gain last year, in spite of which, however, pig production showed a further decline in numbers. Owing to the unfortunate decline in returns for butterfat, it is reasonable to presume." said Mr Phillips, “that the continuing fall over recent years in pig production will be arrested. ‘ "Although the market outlook for pig meat has not escaped the trends common to other primary products, prospects are nevertheless, bright enough to encourage a profitable avenue for recovery of Farm Income to materially assist in offsetting the lowered return from butter fat The Dairy Industry’s pig food,” said Mr Phillips, “was capable of doubling last year’s production, and there was considerable evidence that Dairy Farmers were aware of this, and intended to renew their interest in this source of additional revenue.”

"Over a short space of 26 years, a sound organisation has been built on the loyal and -wholehearted support of its Shareholders. With the assurance of your continued confidence and loyalty, * the Company will continue as in the past to play a vital role in the protection of the Dairy Producer’s markets for his livestock,” , concluded the Chairman. —P.B.A. ’