CO-OPERATIVE PIG MARKETING

Wanganui Chronicle, Volume 79, Issue 164, 16 July 1935, Page 11

CO-OPERATIVE PIG MARKETING

PROGRESS OF ASSOCIATION SURL’LVS ON YEAR’S TRADING Another successful year’s activities from both the marketing and the financial angles is reviewed in a report issued to shareholders and supplieis by the New Zealand Co-operative Pig Marketing Association, Ltd., covering its operations for this year ended May 31. During the year a total of over 111,000 pigs and 150,000 bobby calves was handled, chiefly for export to the United Kingdom. The turnover for the period, of over £336,000, exceeded that for the previous year by £36,000. The income and expenditure account shows that after allowing for all costs and charges of collecting pigs, railage to works, loss on condemned pigs, freezing charges, freight to the United Kingdom (including marine iusuiance), selling commission and overseas charges, also office and administration expenses, £165,255 8s 7d. remains available for suppliers. Advance payments piade to suppliers following Hue delivery of pigs have accounted for £147,236 10s lid. This amount represents an increase on the company’s advance payments for the previous year, on approximately the same number of pigs, of over £8750. This is worthy of mention, since the average export values ruling for the period were lower than those for the previous year. In December last a second and final payment was made on pigs leccived from July .1, to October 31, 1934. This payment, absorbed a further £5.346 7s 2d. Here again a comparison with the figure distributed i.t this juncture the previous year snows an additional payment to suppi.ers of £1.006 13s Bd. I’he usual provision has also been made for payment up Io capital, and l-32d. per pound on pork supplied has been appropriated to a special reseive fund for that, purpose. Thi? amounts to £.1,318 0s 7d. This appropriation, compared with that provided in last year’s accounts, has been reduced by half to enable an increased shareholders' rash bonus to be paid on supply qualified by shares. This will there fore be invieased to 3 32d. per pound, instead of the customary payment of 1-16 d. I'hi.jj has been made possible by the strengthened financial position of the association. After full provision has been made for all the above, there remains for a final distribution to suppliers on pigs supplied from November 1 to the end of May, the sum of £11,354 9s lid. The balance-sheet shows that the association is in a sound financial p' .' tion, with its assets remaining sub -lantially the same as last year. Stocks in freezers are small, particularly in I \ iew of the large, number of pigs handled. Must of the pigs held m store arc merely awaiting delivery, either Io

United Kingdom buyers, or to local curing companies, l>y reason of the bquiu pos.tion of its stocks, the association will be able to effect ihc final payment to suppliers on or about the date uf the annual meeting, which will be held th s year on August 1, ur one month euilier than usual The report contains a complete list of charts and tables, in which the tiond of markets and payments to suppliers have been plotted to sh.*\v in detail the nett returns earned, and how these have been and will be distributed. In one of these tables an interesting comparison is made of the association’s final return with the export parity value of pigs as disclosed by the Aleut Boa.d’s official •weekly advives. The results aie arrived nt in respect of the fortnightly periods of supply, taking the parity value ruling three months later, which represents Ihc actual average lapse of tune troiu the date of slaughter to delu.ciy in United Kingdom polls. These valcu lations show that owing to the assoria tion's various marketing outlets, the nett average return on supply qualified by shares is greater than tthe average parity values ruling for that period. 'l’he report covers the eighth year of the association's existance aud the thiid vear's operation since its recon struetion. ’lhc association's activities have been extended to cover practically the whole of both islands and it ia now the only co-operative meat marketing organisation in Australia. It has a nominal capital of £25.'J00. Of this over £14,000 has already been subscribed by supplier-members. It. is anticipated that, this will be inviensed to at least £16,000 by the allotment of shares applied for bv new suppliers in respect of the season under review. The two retiring (Tv’ctoi- are Messrs. \V. H. Allen and B. J. I’irrit, who have been re-elected unopposed.