RECOVERY IN EXPORTS

New Zealand Herald, Volume LXXV, Issue 23092, 18 July 1938, Page 5

RECOVERY IN EXPORTS

LARGE MAY SHIPMENTS BUTTER AND MEAT RISE LAMS BEST FOR THREE YEARS Export of Ki'pnier quantities of tie fitly nil of tile principal primary pfoihids during May litis bee/i lpsl/ofisil/lo for n marked Improvement in the trade hitU alieo of the Dominion. Another efteourflglhtf factor is that the flow! of Imports, which Was lieeornlt/g ti fictions eilibrtrtnssmeht, was cheeked dnrhig Ala.y. The month of May ns findy records ililleh lower totals than for April, but the position has beefi reversed this year by the latgef exports, After showing it /'eduction of 4'2,818,4/}<{ between Milteh and April, the value of exports l ; eeoftled ttn increase of or M7<9 per ceiitj between April and May. The following table i'llistrates the reeovery in exports, shoivlttg the value of the principal items in Atfty of the hist two years:—

If/98 Mil £ £ Lmh i. i, ssM2() Slitter J, ftHUifift Cheese i. ti'J'J, 071 Mutton • . 'jsl,ols toi.yna PoFk ltltijffi lilt,,nit Fftizen bent HnJitVi 7H,Rlfi TrtllOW : ; Pn-H'Jf, fW.084 Chilled tieef 8n i <«i4 88,112 Although the quantity of wool exported in May, 119,019 hales, was 11,118 bales more than in May, 1937, the sharp drop in prices is shown by the fact that the total value dropped by £899.835 to £1,763,408. However, this showed an increase of £609,372 over the April shipments. The increased value of exports is largely due to greater quantities of butter and meat being shipped. A total of 167,363cwt. of butter was consigned overseas in May, compared with 126,269cwt. in the same month in 1937. The quantity of beef exported, 106,730cwt., was the highest monthly export figure since July, 1937. Mutton shipments at 124,581cwt. was the highest since March, 1936, while lamb, 408,251ewt., was even more marked, being the best since March, 1935.

DAIRYING YEAR CAMBRIDGE COMPANY AVERAGE PAY-OUT OF 15.042 D [from OUR OWN correspondent] CAMBRIDGE, Sunday The season's average payout for butter over all grades has been announced by the Cambridge Co-operative Dairy Company as 15.012 d. This figure is the highest that has yet been recorded by any company this season. In his report to be presented at the annual meeting on July 29, the chairman of directors, Mr. W. Harbutt, states that butterfat handled by the company was 4,873,0951b., which was manufactured into 1919 tons of cheese, 1641 tons of butter and 78 tons of whey butter. Undoubtedly, eczema had a detrimental effect on cheese gradings, as the stock might have been suffering long before the disease was apparent. The final payments for the 1936-37 season were 13.938 d for butter and 15.220 d for cheese.

Suppliers for buttermaking had this season received an average advance payment over all grades of 12.887 d, while the amount available for distribution in the appropriation account would allow a deferred payment of 2.155 d to be made, giving an average over all grados of 15.042 d. Suppliers for cheese making had received an average advance payment of 14.520 d, and would receive additional payments of 1.769 d, making the season's average pa3*out over ail grades 16.289 d.

The board recommends that no interest on share capital be paid. The report states that it is hoped the new building to replace the Gricedale cheese factory, which was destroyed by fire, will be available in August.

HIKURANGI DIRECTORATE POSTAL BALLOT NECESSARY | BY TELEGRAPH—OWN CORRESPONDENT] WHANGAREI, Sunday For the two vacancies on the directorate of the Hikurangi Dairy Company three nominations have been received. A postal ballot of shareholders will be held. The candidates are Messrs. F. Elliott and F. McDonald, sitting members, and Mr.\H. Rusk. FRANKLIN JUNE ADVANCE INCREASED OUTPUT SHOWN [from our own correspondent] TUAKAU, Saturday The directors of the Franklin Cooperative Dairy Company, Limited, have decided to make an advance payment of Is l.Jd per lb. butterfat on Wednesday for first-grade cream supplied to the company's factory last month. The usual deduction of Id per lb. butterfat will apply in the case of cream which graded second. The payment will absorb £4965. For June last year the advance payment amounted to £3594. The factory's output for the month this year showed an increase of 21.53 per cent, compared with the figure for June, 1937, and the advance payment is lid per lb. higher. CANTERBURY MARKETS FOWL WHEAT POSITION [ISY TELEGRAPH—PRESS ASSOCIATION*] CHRISTCIIURCH, Saturday Further investigation into the quantity of fowl wheat at present in store in Tiniaru has been made this week by Mr. A. V. Smith, grading supervisor for the Wheat Committee. Since last week the position has shown marked improvement, his report states. About 4000 sacks have been sold for fowl feed and another 1200 odd have gone to mills, leaving fewer than 13,000 sacks still in store. Of this quantity, it is estimated that about 3000 or 4000 sacks will condition sufficiently to bo sold as milling wheat, so that tho total quantity of fowl wheat still in stock is not more than 10,000 sacks at most. The demand for fowl wheat has

quickened in the last few clays because the Dunedin market, which up till now has been supplied from Otago and Southland, is again seeking supplies from Timaru. There is a long way to go yet before next harvest, the report states, and it is considered that the amount of fowl wheat available may not be sufficient. Thus the Wheat Committee may bo impelled to import Australian wheat or fowl feed even into the South Island. The actual position, as it now appears, justifies the Wheat Committee m retaining in the South Island, fowl wheat for the use of South Island poultry keepers. The potato market, like other produce and grain markets, remains quiet. Business is still at £2 10s a ton (at handy stations).