WOOL DISPOSAL

Gisborne Herald, Volume LXVI, Issue 20071, 18 October 1939, Page 8

WOOL DISPOSAL

j AUCKLAND SATISFIED ! ; EXTRA £4,000,000 | SALE-ROOM EQUIVALENT I The wool purchase price has been received with satisfaction by wool- ' j growers, according to opinion, expres- :; sed in Auckland, says the Herald. An important point yet to be clarified is the stage at which the.price of 9.8 d per lb. sterling, or- 12Jd, New Zealand currency, is to be paid. I Questioned by telephone, the Minister of Marketing, the Hon. W. Nash, raid that certain details were still ; matter of negotiation. In tlie industry it is believed that tine price is the equivalent of the auction room price, and is around what was expected by Auckland brokers. It is a basic rate to be applied according to type and the ccunt within which the wool is appraised and acc.ording to the clean yield of the wool. Assuming these conditions, the price is 3.08 d per lb. higher than last season’s average and compares with an average of 8.G29d per lb., for the past 10 years. Based on last season’s production the industry will receive an additional £4,000,000, New Zealand currency. Since the outlook is for a somewhat larger clip in ' the current

season, the cheque will be correspondingly larger. Increase in Export Value Wool exported during the year ended June 80. was valued at £12,899,000. The same quantity sold in the current year on the basis of the fixed price will be worth nearly £17,000,000. The gross value and average price of wool sold in New Zealand during the past five seasons have been: — Average price Gross value per lb.

In addition to these figures account must be taken, of course, of wool consigned to London for realisation, over 240,000 bales of New Zealand wool having been disposed of in this manner during the past season. Prices in Last War The average price a bale of'34iib. at the‘proposed price of 12.’d per lb. would be £l7 8s Id, which is over £4 a bale more than last season’s sale average. During the 1914-18 war period the average price a bale of New Zealand wool was £22 10s and, during the post-war years between 1924 and 1929, £2l 10s. The depression years saw the low average of £9 a bale, with (he low record in 193233 of £7 10s 3d. Improved conditions ruled in later years, and from 193334 up to 1938-39 (he average price a bale at the New Zealand auctions was £l4 17s lOd,

£ d 1934-35 .. 4,480,479 0.54 1935-30 .. 10,083,297 9.13 1930-37 .. 15,344,23! 15.71 1937-38 .. 9,027,905 10.04 1938-39 . . 9,380,375 9.17