WELLINGTON NEWS

Hokitika Guardian, 24 April 1928, Page 4

WELLINGTON NEWS

WOOL STATISTICS. (Spue in I to “ Guardian ”.) WELLINGTON. April 21. The Wellington Woolbrokcrs have issued their statistics in respect to the wool sales lor the past season, and the figures make pleasant reading. hire sales were held during the season and the total quantity offered was 110,1188 hales, and the quantity sold was 108,979 hales, while in the previous season the quantity offered was 103.927 bales and the quantity sold 103.311 hales. 'The net weight of the wool sold was 38,814,13311) against 3(5,900,3211b. and the gross proceeds £2,872,318 0s lOd against £1,889,191. The average price per hale was £24 10s od against £lB os B:|d in the previous season and

£l7 17s 1 ! ( d in tlie season of 1923-28. The average price per lb was 18.31 Id ■gainst 12,287(1 and 11.819(1 in 1923-28. \t the opening sale in November when nly a small quantity of wool was offered the average price per hale was £23 2s 2d. At the December sale the price was £25 Is old ; January £2l 0s ltd; February £25 10s 5d ; and March £25 8s 2:|d. In January and February ihe offerings were at the peak, yet the prices were at the highest level ol the

season. The distribution of the £2,072,318 Is 9d over a period of five sales must have a good effect on the Wellington district. The past wool season was a remarkably good one, hut 'rowers are now more concerned about next season’s clip and whether it will e worth while increasing flocks. 'I he outlook is undoubtedly very promising and it appears that demand lias overtaken supply. Spinners and nianiilacturers have long resisted the upward movement of raw wool, hut the circumstances have proved too much for them. Wool should maintain its high values for the rest of the year and for longer. The United States are closely interested in wool both as growers and importers. The United States Department oi Agriculture has received the report of J. ,|. Walker, consulting specialist on co-operative marketing, who lias been io, a world tour for twelve months studying wool conditions in various countries visited. .Mr T\ alker says 11 1 al world production has not yet kept pare with the demand for consumption, and that stocks are extremely low, with no apparent surplus ol wool anywhere in the world. This in spite of the heavy increase ill foreign wool pro ductiun. lie is of opinion that the wool yield ol New Zealand. Australia and South Africa has already reached a point which cannot he expanded in consequence of climatic and geographic factors. This it is considered gives the United States wnulgmwers an opportunity to place their industry on the best financial basis in history. Tfe urges that the market methods of Australia, New Zealand and South Alrica should lie adopted by the United States growers. the report estimates that South Africa is carrying 85,000.009 sheep—-u total which agricultural authorities there declare is 5,000.000 over the safe carrying capacity. Australia is stated to he carrying more sheep than at any previous time, except in 1891. and further expansion in New Zealand is declared to he impossible owing to lack ol space. RUTTER VALUES DROP.

The London quotation for New Zealand butter has declined from 18()s ill the second week in March to Kids per cut, and this decline is seasonal. It is partly due to increased production in Australia and partly to consumption being checked through higher retail prices. Messrs TT , V eddel and ( o consider that the market will depend very much on the Northern Hemisphere. 11 there is an early and Hush spring they do not anticipate any great firmness in the market. On the other hand, should there he a late spring, there is every prospect of a general improvement in the butter position. 11 climatic conditions arc at all favo,liable the European output will show- expansion and Russian supplies will he larger. \\ bile the Soviet controls manufactures and agricultural produce and fixes prices it does not control the cattle and daily industry. Consequently the peasants are vetting out of controlled industries and taking to others and find tfieni,elves able to make money which the Soviet Government wishes to borrow without success.