N.Z. DAIRY COMPANY.

Hauraki Plains Gazette, Volume XXXIV, Issue 4540, 16 March 1923, Page 4

N.Z. DAIRY COMPANY.

STATEMENT BY MB. GOODFELLOW CURRENT SEASON REVIEWED. In announcing that the February pay-out. for butter-fat supplied to the N.Z. Dairy Co. would be Is 6%d for superfine, direct delivery fer buttermaking purposes, Is 6d for cheese, and for casein 2d over and above the butter price, Mr W. Goodfellow, managing director of the company, stated that up to the end of February the company had made approximately 17,000 tons of butter. Of this quantity 11,000 tons had at that date been shipped overseas, leaving a little over 4000 tons in store at Auckland, awaiting export. The remaining portion of the company’s output had been absorbed cn the local market. The shipping facilities throughput the season had been fairly good, and heavy clearances had been arranged for the current month, so that it was thought very little would be left on hand at the end of the present month. This applies to both the butter and cheese position. The final figures for last season showed that the full average pay-outs had been 16.62 d (an increase over the balance-sheet figures of 16,46 d) /because of better price realised in London for the stocks carried over. The figures, considering the disastrous slump' experienced in the height of the season, when heavy- supplies were held on the London market, were, he: considered, very satisfactory, and unexcelled by any company that had worked on similar lines. The course adopted during the current season, now that markets were normal, would amply demonstrate that the soundest policy in the interests of the producer was the consign-' ing policy to wor)d centres. By this means the producer got all that was in his produce, without the intervention of buyers operating for private prefit.