WOOL HELD IN NEW ZEALAND

Press, Volume LXXXII, Issue 24911, 26 June 1946, Page 9

WOOL HELD IN NEW ZEALAND

According to figures released yesterday by the Wool Board, the total holdover or wool in store in New Zealand at May 31, was 1,319,000 bales, but of this amount 83,000 bales was at present being loaded ipto ships to be sent to Germany. This, it appears, will be the amount of old wool with which the New Zealand branch of United Kingdom-Dominions Wool Disposal. Ltd., will have to cope besides the current season’s clip, which will begin to come into store toward the end of the year. The amount is approximately equivalent to a full year’s clip, plus 2b per cent., as the New Zealand clip is now a little more than 1,000,000 bales. At tne end of the last commandeer, the amount in stock was relatively larger. At that time the New. Zealand Clip was a little more than 500,000 lales, and the carry-over was 800,000 jgles. Prices immediately after the last commandeer came back very sharply, in the last commandeer season, the average value of New Zealand wool was £23 9s lOd a bale. In the following season, it came back to £ll 17s ?d, and in the 1021-22 season It came back again to £9. The minimum price which will operate next month is designed to make such crushing reductions impossible.