WELLINGTON NEWS

Hokitika Guardian, 27 April 1927, Page 4

WELLINGTON NEWS

WOOL STATISTICS. i (Special to “ Guardian.”) i WELLINGTON, April 23. The wool-selling season in New Zealand having ended, statistics are now being furnished which are naturally very interesting. The Wellington Wool brokers-’ Assoeation has published its statistics which make excellent reading. There were five monthly sales held in Wellington, beginning witn the sate in November hist, and in ail 105,207 hales were offered and 103,311 hales were sold, the- quantity sold showing a weight of 33.900.3211 b, which is about equal to 20 per cent of the total production of wool in the Dominion. It will he noted that oi the total quantity offered only 2,810 hales remained unsold, which represents 2.4(i!l per cent, of the- offering. At the last sale in March only 38 hales were unsold out of 21.020 hales offered on that occasion which serves to illustrate the keen demand that existed for wool. The aggregate amount realise 1 at the livu sales was ,S»l,880,10-1 Os Id. and the whole of this amount, le-.s charges lias been distributed among growers in the district, ami there can he no doubt that the distribution of this sum made a considerable difference to the economic, conditions. At the opening sale in November prices were low; the coal strike was just about ending, still there was a great deal of uncertainty in the outlook. At this first sale the carryover was 11 per cent., while the prices realised were mi the average equal to £lO Os 9;,’d per bale, and 11.257(1 per lb. There was a big improvement in December for tliu average showed a gain of nearly £1 per hale. In -January there was a sharp advance, the average being £lB 13s ltd. or £2 3s 3:|d more than at the November sale. In February there was a small further advance, and in ..larch sale the advance was nearly 5s per hale on the February sale. The March was hv far the best of the series, just as it was in the previous season which discredits the opinions of many growers who make a special effort to get their clips marketed at the .January sale, believing that prices are at the peak in that month. The average value per hale in the previous season was £l7 17s -Id, and this season the average for the whole five sales is £l,B 5s B:|d. There was thus uu improvement ol 8s Tjd per bale and tins on the weight basis is equal to nearly \d per Ih. Wool shows a. remarkable ret every from tb.o depression -experienced last year, but it is doubtful whether it would have recovered quite its rapidly had it been made the subject- of interference by the Government. Natural economic laws have operated in respect to wool and the market is now in a sound and stable condition for which woolgrowers deserve a great deal of credit, for had it not been for their consistent disposition to meet the market there in tv have been to-day an aceinnulation o! wool depressing the market. Trade and commerce are host left altjuo to work out their own salvation. THE BUTTER MARKET. The London butter market is reported to he quietly steady with New Zealand salted butter selling tit 151 s to 151 s per ewt. For the past two weeks the clearances acre retimed to 50.0 10 boxes per week instead of ttO.Otlt) boxes as fixed by the hoard, the larger quantities are again to he placed on the market. The Easter holiday no doubt made it necessary to curtail offerings. An outstanding feature of the market is the fact that the quotations tor 'New Zealand. Australian and Siberian butter are uraetieall.v the same, while the Argentine butter is only slightly lower. Tints, as stated above. TT-jw Zealand salted butter is quoted from 151 s to 151 s, Australian 150 s to 151 s, and Siberian at 152 s to 151 s; Argentine luitter is minted at This to Is!s. There was a time when New Zealand butter stood 5s to V's above other lint tors, exeent Danish, and the latte:

was generally 10s and on occasions a little higher than New Zealand, lfoiv does it happen that Danish butter at IPOs to C2s should be Jo>; above New Zealand, while other butters are at tii • same level as the Dominion product ? Danish, lie know, enjoys an exolusi-c market, that is there is a class of consumer who insists mnn being suppled with' Danish cask butter without regard to the relative price of other butters. Recently the Danes decided up n branding casks oil tlie outside with the date of manufacture, which appears to have had some favourable effort upon values. But apart from Danish, New Zealand appears not to have any advantage over th‘i products of other countries, and it should have. Fume effort should lie made to ascertain the reason for this. Of course it is wellknown that Australia and Argentina have been endeavouring to improve the qualities of their products, hut Siberia was never credited with the production of high quality butter. It is also significant that Siberian butter should lie mi the London mnrkot so early in the European season.