Everyone in the dairy industry knows that Gypsy Day is June 1 – the day when farms change hands and sharemilkers move their herds to new properties.

They know too that this date makes sense because it's a time when cows are dry but it turns out not too many people know how June 1 became an ‘official' date.

When I asked farmers and others involved in the industry for many years about Gypsy Day most recounted memories of herds of cows walking along the roads to new farms, but none could enlighten me on how the industry agreed on just one day.

That was until I emailed Coast & Country columnist Don Fraser.

'It dates back to the days of the State Advances Corporation, where it was agreed that the June 1 was transaction day to make things easier for everyone,” replied Don who thinks that may have been in the 1960s but he's not completely sure.
'It was also the cut off point for the various dairy companies which included all the little old stand-alone companies such as Cambridge Dairy Factory (you know the old buildings sitting around empty now).

'Basically it gave everybody an agreed date so that transfers could be aligned. There are farms transacting after that date into June and July, but they are ordinarily going concerns where the stock goes with the farm.

'In the days of manual transactions legal secretaries could be seen running all over town carrying cheques to settle on properties – it was a huge day.”

A little more research revealed that the State Advances Corporation had its beginnings as far back as 1894, when in order to accelerate the development of the country the government made provisions for settlers to obtain finance for land development at economic interest rates.

Over time the corporation made advances (loans) to settlers on the security of farm property for re-financing and development purposes.

It also assisted workers in the purchase and construction of homes, either in rural or urban areas.

Advances were also made to local authorities to finance the construction of roads, bridges, and for the provision of other civic amenities.