N.Z. DAIRY CO.

Hokitika Guardian, 24 August 1933, Page 6

N.Z. DAIRY CO.

STEADY IMPROVEMENT SHORTLY i MR GOODFELLOW’iS OPINION. ;

(Per Pre ss Association, Copyright)

HAMILTON, August 24

At the annual meeting of the N.Z- 1 Dairy Company at Hamilton, the gross ; tunover for the season "'as disclosed, at £5,179,033, compared with £5,165,171 for the last season, an increase of ..*3,862. Lon us payments, totalling £381,101 15s 2d, will be made to suppliers on Thursday August 31. Various reasons for believing that there should be a steady improvement shortly in the market value of dairy produce were advanced by Air -W. Goodfellow, advisory director to the Neyv Zealand Dairy Co., speaking -at the iatiintal meeting of suppliers in Hamilton. “The reason for -the huge importation of butter into the United Kingdom in recent years is due to the earlier collapse of wheat and wool prices, which forced large numbers of farmers into dairying as the only alternative,” said Mr Goodfellow. “Now that butterfat has reached an uneconomical level, and, at the same time, wheat arid wool have recovered the drift will be reversed, and it may reasonably he anticipated during the next couple of years that a large number of farmers will . revert to their previous occupations producing wheat and wool. These,' against the Danish quota allocated by the British Government, would provide' a substantial reduction in' 'imports from that country.