DAIRY PAY-OUTS

New Zealand Herald, Volume LXXIII, Issue 22499, 17 August 1936, Page 5

DAIRY PAY-OUTS

LAST UNDER. OLD SYSTEM NEW ZEALAND COMPANY BUTTER ADVANCE OF 1/1} [from ocr own* correspondent] HAMILTON, Saturday The last advances to be made by New Zealand dairy companies prior to the operation of the Government's guaranteed price scheme will be paid on August 20 for butter-fat supplied in July, 'J ho Xeiv Zealand Co-operative Dairy Company, Limited, has decided to advance its suppliers Is ljd per lb. butter-fat, free of share credit, for first grade supplied for butter-mak-ing. while cheese suppliers will be paid at the rate of Is 2id per lb. butterfat for first grade. The .Morrinsville Co-operative Dairy Company, Limited, and the Cambridge Co-operative Dairy Company, Limited, will advance their suppliers Is Id per lb. butter-fat for cream for buttermaking, while the Te Awamutu Cooperative Dairy Company, Limited, will make a similar advance for cream for butter-making, and in addition will disburse a further id per lb. to shareholders. BRUNTWOOD PROTEST CHEESE WAXING IMPOSITION [from our own* correspondent] CAMBRIDGE, Saturday The annual meeting of shareholders of the Bruntwood Co-operative Dairy Company, Limited, was held yesterday. The chairman, Mr. W. N. Perry, presided. With the bonus of 2Jd lb. butterfat, said Mr. Pcrrv, the total payout had been Is lid, against 10Jd for the previous season. A further payment of id was still to come and that would make the pay-out 3d lb. better than it was last season.

The company had been fortunate in lowering the cost f.o.b. from 1.07 d lb. last season to 1.04 d lb. This was a remarkable saving, stated Mr. Perry, when it was considered that the company's costs were as low as any in New Zealand.

While the quality of the company's cheese had been proved the best in the Auckland Province, there had been little financial benefit.. The chairman hoped the position would be altered this year, as the Government would be paying a premium on grading above 92 points. In the past season the company's output had been 42 per cent above the standard, 32 per cent at the basic price and 32 per cent below the standard. Based on the past season's operations the company would obtain £3OO over the basic guaranteed price. "I have heard farmers say the exchange is no benefit," continued the chairman, "but when it is realised that our company gained £6783 they could not have reasoned soundly. The exchange practically equalled the 2Jd bonus paid this season. The waxing of cheese was dealt with by Mr. Perry, who said this method had proved satisfactory. The new legislation demanded that companies which had waxed in the past should continue to do so. They would receive 4Jd a crate more, but would be deducted 2J per cent for shrinkage. It had been proved in the past that shrinkage was not more than per cent, which meant the Government was taking 1 per cent. This would mean approximately £SOO to the Bruntwood company. Mr. Perry considered a strong protest should be entered, as the Minister of Marketing had perhaps not given the matter full consideration.

A resolution was carried that a vigorous protest should be entered against the new imposition of 2J per cent shrinkage on waxed cheese in place of the 1£ per cent charged hitherto, and which was considered satisfactory by the London merchants on f.o.b. service. Messrs. S. R. Hinton and G. A. Watt were re-elected to the directorate. GRAIN AND PRODUCE THE CANTERBURY MARKET POTATOES STILL FIRM [BY TELEGRAPH —PRESS ASSOCIATION"] CHRISTCHURCH, Saturday Business in the grain and produce market this week has been to some extent upset by the holiday and in general there has been little alteration from last week. Potatoes remain firm, mainly because of the report that a further shipment for South America will be made at the end of the month. Business with other parts of New Zealand is small, the demand from North Island outports which caused a flutter at the end of last week having fallen off. Farmers are disposed to hold until the export position becomes clarified, and this has meant a further restriction on business. The Wingatui, which was to complete loading for Auckland yesterday, will lift about 4000 sacks from Lyttelton in addition to 6000 sacks taken aboard at Timaru. This quantity is likely to keep the Auckland market satisfied in the meantime.

Prompts are worth £4 5s a ton on trucks for whites, £4 10s for Suttons, and £4 15s for Dakotas. Septembers are quoted at £6 5s f.0.b., but there is practically no business at that price.

The small seeds market remains healthy as the spring demand has begun to make itself felt. Prices rose sharply following the entry of export business into calculations, but after the rise inquiry from this source became severely restricted. Stocks of most lines are plentiful in Canterbury stores, and much seed has been held in the country, so there will be ample supplies to meet any ordinary demand. Chaff remains firm because of the steady demand from the North Island. The quotation is £3 to £3 2s 6d on trucks, with up to £3 5s for good lots at close stations.

Fowl wheat continues steady, the rise having been checked by freer offerings attracted by the increase last week. A fair quantity of fowl wheat is still held in the country by farmers who hope to get their grain away for milling. There appears to be little chance of this because, besides reasonably plentiful stocks of New Zealand wheat, both wheat and flour have been imported. , RABBITSKIN SALE Thero was an easing in prices at the rabbitskin sale held at Dunedin last week. Low tirade and autumn skins declined 3d to (id per lb and winter bucks eased by 3d to 4d per lb, while winter does were firm, with at times an advance of up to '_' d per lb. The following is (he range of prices:— Small, 'JOd; runners, milky, 34d to ■J<>d; summer bucks, 37% d; summer does, Hid; light racks. 37'/<d; prime racks, 39' id; dawny autumns, 45d; second early autumns, s,'id; early autumns, oo'/iid; second late autumns, 72d; mte autumns, "OVid; second incomings, S'Jd; first incomings, D(id; second early winter bucks, lJOd; second early winter does, (isd; first early winter bucks, 13.x1; first early winter does, S3'/ a d; spotty bucks, llOd; spotty does, ~UV 2 <I; second winter bucks, ]3od; second winter does, SO'/ad; first winter bucks, l-l()d; first winter does, i)2d; prime bucks, 14<)d; prime does, 10()d; outgoing bucks, 97' ad; outgoing does, (i'.'d; spring bucks, 7<>V-d; spring does, I'JVid; second spring bucks, 51 d; summer blacks, "23Vid; autumn and incoming blacks, 4iy a d; outgoing and spring blacks, Oti'/jd; winter blacks, BUd; winter (awn, 83d; outgoing fawn, 61d; summer fawn, 36d; hareskin, 3S 3 /« dto 4S%d; hair, IBd.