COUNTY YARNS - Honey-tongued advice

Beekeepers might like to let me know if this old apicultural Sussex saw has any basis in fact:

“A swarm in May is worth a load of hay; a swarm in June is worth a silver spoon; but a swarm in July is not worth a fly.” Apparently this is because it is then too late for the young colony to store up a treasure of honey before the nectar-bearing flowers begin to fade with the approach of autumn.