N.Z. WOOL CHEQUE

Dominion, Volume 33, Issue 191, 9 May 1940, Page 8

N.Z. WOOL CHEQUE

More Than £12,000,000 INCREASE ON LAST YEAR Big Decrease In Clip It is estimated officially that when the final appraisements of wool in New Zealand for the 1939-40 season are completed, growers will receive well in excess of £1*2,000,000 for a total of 705,908 bales. Preliminary figures show a decrease in the greasy wool clip of the Dominion of 90,000 bales, but the value of the greasy wool appraised to the end of the season will be £1,675,424 in excess of that for 1938-39. At the half-yearly meeting of the New Zealand Wool Brokers’ Association m Wellington, a return was presented for the first year under the wool commandeer, including an estimate of the wool still to be appraised, as follows :— Wool appraised to date: 688,773 bales; total weight, 235,510,9461 b.; proceeds, £11,903,084; average price a lb., 12.13 d.; average price a bale, £l7/5/6. To come: Tokomaru Bay, 2135 bales; weight, 759,9501 b.; proceeds, £36,206; average price a lb., lid.; average price a bale, £l6/19/2. Crutchlngs: 15,000 bales; weight, 5,250,0001 b.; estimated proceeds, £185,938; average price a lb., 8.5 d.; average price a bale, £l2/7/11. Total appraisements for season: 705,908 bales; weight, 241,550,8961 b.; total proceeds, £12,125,228; average price a lb., 12.0L7d.; average price a bale, £l7/3/6. Growers will receive in September the full retention money plus the shortage 4103 d. s lb. in the average payout, or whatever the actual figure is when all returns are in. There is still in dependency the 50 per cent, of the profits on wool sold outside the United Kingdom to be returned to growers. Considerable quantities of New Zealand wools have been sold, but any settlement must necessarily be much delayed. From the figures given, it is apparent that the greasy clip of the Dominion will be down 90,000 bales, representing the lesser production this season as compared with 1938-39. The value of the greasy wool appraised to the end of this season, however, will be higher than in the previous year by £1,675,424. This takes into consideration the value of wool shipped in 1938-39 for sale in London. Of course, there is no wool shipped for sale in London under the commandeer.

Slipe wools are additional and will be of approximately the same quantity, but of considerably higher value —it may be £500,000.