HEALTHY STATE

Otago Daily Times, Issue 27083, 18 May 1949, Page 4

HEALTHY STATE

MEAT BOARD FINANCES OVER FOUR MILLION POUNDS ADDED NOTE OF CAUTION SOUNDED PA AUCKLAND, May 17. It is estimated by the Meat Producers’ Board that there will be a surplus of about £30,000,000 in the Meat Industry Account at the conclusion of the current season, which is to end on July 31. The estimated accretion for the season is £4,400,000. These figures were presented to the meat and wool section of Federated Farmers of New Zealand (Auckland province) by Mr F. C. Johnstone, a member of the Meat Producers’ Board. Mr Johnstone said that the estimated credits for the season totalled £3,100,000. They included £350.000 for carcass meat, £200,000 for offal, £1.700,000 for tallow, £150,000 for pelts and £700,000 in interest. The debit was £200,000 for the lime v subsidy, leaving a balance of £2,900,000. In addition, the non-recurring amount of £1,500,000 had been received from

the accumulated funds in the hides , 1 pool, making £4,400,000 in all. There .'•- was therefore a possibility of the funds V- reaching* £30,000,000 by the end of the season. The credit of the industry . at the end of last season was ’ £25.628,635. Mr Johnstone said that .there were indications that/the upward trend in prices was halting, and the time might not be far distant when there would be an annual reduction instead of an increase. This season a small amount had been allowed for pelts. To date, with two-thirds of the season’s production of pelts sold, there was a credit of only £85,000. In the two previous seasons the credit had averaged about £2,750,000 a season. Up to date this season lamb pelts had , realised about 2s a dozen less than the payout in the schedule. F<#tunately. sheep pelts, though smaller in numbers, had brought about 20s a dozen ! above the schedule price, and thus there was a small surplus. The trend of pelt prices was definitely downwards, and a feature of the markel was weak buying by America. .Mr Johnstone gave figures showing the difference between the schedule prices for the Various classes of meat / and the price paid under the contract with the United Kingdom. Only in •'the case of lamb was the price to the New Zealand producers above the contract figure.