NORFOLK DAIRY COMPANY

Sun (Auckland), Volume IV, Issue 1070, 6 September 1930, Page 11

NORFOLK DAIRY COMPANY

From Our Own Correspondent MORRINSVILLE, Friday. Tho annual meeting of the Norfolk Dairy Company, Morrinsville, was held in the Motumaoho Hall on Thursday, the chairmen of directors. Mr. S. Ferguson, presiding. The company made 492 tons of cheese and the average* payment was Is 5.677 d a lb of butterfat. Reviewing the season, the chairman said all the company’s cheese had been shipped on consignment, and the results of marketing compared very favourably with those of other consigning factories. The season had been a record one for production, but an exceedingly difficult one for marketing. As the prices offering for f.o.b. sales were not very high the directors decided to consign. Those factories that sold all or part of their outputs had jbeen able to make slightly higher pay-outs. The season opened with London prices at 86s to 91s. .and advanced to 93s to 96s in November. Prices were fairly steady until tho end of January, when a steady decline set in until 70s to 76s was reached in April. Prices had kept about 70s to 80s ever since. Considered from a statistical position the fall in prices was hard to understand, as there had been no increase in the importations into Britain. The only reason he could suggest was the lack of consumptive demand owing to the world-wide depression and unemployment. The price at present was not improving and the company, in common with many others, were depending on an Improvement in present prices in order to be able to pay out the surplus showing on the balance sheet.