WOOL SITUATION

Evening Post, Volume CXVII, Issue 23, 27 January 1934, Page 14

WOOL SITUATION

NO QUOTABLE CHANGE

AUSTRALIAN BUSINESS

United" Press Association—By Electric Tele- . eraph—Cppytisht. SYDXEY, This Day. The wool letter of the Sydney "Morning Herald" shows that'there were no quotable changes in values on this week's Sydney wool sales.

Offerings totalled 47,853 bales, of which 92 per cent, were sold at auction. Catalogues averaged in the vicinity of 20Hd per lb. ■ Selections offered were not quite as attractive as the earlier lots. A regrettable feature in this years business is the number of growers who sold their wool privately in the country at figures which enabled, the buyers to make a profit of £6 to £7 per bale. Japan, Germany, and France were vigorous operators during the week. - The difference in price between fine and medium wools was not such as to adequately reward growers of the fine wools. . From July 1 to December 31, 1933, exports of wool from the Commonwealth totalled 1,682,373 bales, showing an increase of 144,291 bales when compared with the similar period of 1932. The current week's quotations for classed wool clips were:— Greasy extra super merino, to 33% d. , Greasy merino fleece, best, 27% d to 28% d; good, 25% dto 26% d; average, 23% d to 24% d. . Greasy merino, slight seed or burr, best, 24% dto 25% d; good, 22% dto 23% d; average, 20d to 21d. Greasy merino, best broken and pieces, to 26% d; bellies, to 21d; locks, to 15% dv • Lambs.—Best, to 24% d; comebacks, to 26% d. ' , ■ . ■ The January series ot wool sales m Sydney are estimated to be worth £4,845,000, bringing the Sydney total for the season to over £16,647,000. WOOL APPRECIATION. A telling instance of how returns from wool have appreciated this year is furnished by the experience of one well-known broking firm operating in the South Island. For, a given quantity of wool sold last season the sale realised £44,000; for a similar quantity offered this year the return was £151,000.