THE FIRST WOOL CHEQUE

Hawke's Bay Herald-Tribune, Volume 81, Issue 72, 17 December 1937, Page 4

THE FIRST WOOL CHEQUE

H.B. Growers to Receive About £250,000 AVERAGE OF £13 A BALE To-day, fourteen days after the first Napier wool sale, is "prompt date" for the payment of wool cheques, and it is estimated that about £250,000 will be distributed by brokers. Of a total offering of just under 20,000 bales, over 90 per cent. was sold at prices averaging from 94d to 9fda lb. which should work out at £13 5/- to £13 10/- a bale. Apparently growers are prepared to accept the market at recent Tates, bo* cause it is understood that the allocation of 30,000 bales for the January sale is already catalogued, and brokers are taking February bookings. None of the wool catalogued for next month's auction is held uver from the first 3alo and fresh wool is poured into the Napier stores rapidly until shearing was temporarily held up on account of tho recent few days of heavy rain. Beforo that, however, work had proceeded apace and the stores are at present holding a considerably greater quantity "than will be offered in January. Further inclusions in the January catalogue are still being sought, but are now probably dependent upon withdrawals.