WELLINGTON NEWS

Hokitika Guardian, 24 April 1925, Page 4

WELLINGTON NEWS

WOOI. SALES

(Special to “Guardj*.n”.) WELLINGTON, April 2.1. The last wool sale to be held in New Zealand was in Dunedin on April 8, and prompt day for that sale would have been April 17, so that the season may be said to have been absolutely ended and cleaned up. Although the public have known nothing about it the linance has been a very troublesome factor and prompt day was not without its anxieties to brokers in many selling centres. However, all that is done with now. and the position to-day is that there is a fair amount of held over wool in the stores, some of which will probably remain there until the sales begin again in .November next. 1 his means that a good deal ot money is ly-

ing idle, and for the wool the owners must pay insurance and run the risk of not realising as much lor it when it is rc-olferod as they could have obtained in .March. It is a gamble, and no one can sav how it will result. It is known that a lot of wool has been

shipped to London for sale, and some of this will get into the sales to he held next month, hut most of those who

are trying the London market are timing their shipments for the .September sales, ami those who are following this course are of opinion that by then stock should be very light and if there is anything like a reasonable demand values should improve. Hie carry-over wool both in New Zealand and Australia is very large -much larger than if was in the previous season and the trade will realise that this wool must make its appearance on the market sooner or later lor it cannot be held for any length of time. For the Mav sales in London the offering should he larger than for March series liecause of the ef'miparutiveiy large shipments ' from Australia and New Zealand and tiie heavy carry-over Irotn the .March sales. With ample supplies in view the trade is not likely to boost prices, bill some believe Unit tin' Americans will reappear in the market and thev base their views on the fact llml n> the last sale of sheepskins in London the Americans operated Ireely. ,\ gainst this must he set the tact that in about six week’s time the domestic din nf the United States will he available, and tiie American clip comes off the hacks of about fifty million sheep. Kurope also will lie handling its own clip, so that there will he no shortage of wool. In view of this it does not seem likely that there tan be any appreciable advance in values at tiie May or .July sales in London. September sales may seem some improvement but that is .too far off for anyone to indulge in predictions and expect to lie taken seriously. In the meanwhile it is interesting to note that the etlorts made in Australia to stabilise prices have not been advantageous to the brokers. It will lie remembered that ti e selling period in Australia was extended and the catalogue reduced by 50 per cent. Tiie delay meant tlml some growers would have to wait months before the wool cotnd he sold iliul very few could stand the linancial strain. Consequently more wool was sold privately in the country districts than ever before, and some ol those who made private sales are said to have made good prices. FROZEN BEEF. According to the cable message received by the Meat ( onlrol Hoard this week there were no rpiotaliens lor New Zealand beef, neillier ox nor cow sorts l aing quoted. This it appears indicates that there is net sufficient mi flic market to warrant a quotation, which is a. pitv because prices are really good. The quotations for chilled bee! show a slight improvement on Lite week. Iho beef market has been a good one lor some considerable tame past ami in tie 1 opinion of those closely associated v.itn the trade is likely to remain linn so lone; as Hie ( on Linen ta I demand centbones. )n : lip port ot tliL vi»w the slat's t' furnished ill Mr.s-rs V, eddell and Co's review of the meat trade in 1921 are quoted. Last year Kurope impnrted '.159.(1)3 tons of frozen meat, compared .with 223.090 tons in H 23. am! 113,210 tons in 11*22. These figures show verv substantial expansion. Last year's imports ware distributed as foil.v.s: Italy 125,059 ions. Belgium and Franco ! 5,0;;.l ions each, (ferinauv mil.fa::) toils. Austria 10. mill tons, CzciTio-Klovakia 5.0051 tons, and Hungary I.(10(1 tons. Argentine supplied Vti per cent ,1 the total, and yet Now Zealand and Australia boiieiilled, tori the dhersinn of this meat to the Continent lessened the supply tor the Brt-I tish market and tints values were maintained. 'lbis Continental trade opens in.) a splendid prospect lor Australia where immense herds can he pastured. While trade with Kurope has expanded largely, the hope is expressed that with tiiis market developing so satisfactorily prices for heel will not advance unduly and so chock ee’isiimplinu. .Mutton and lamb, too, are gradliallv creeping on to the Continent.