N.I. WOOL CLIP

Hokitika Guardian, 19 December 1933, Page 5

N.I. WOOL CLIP

A HUGE INCRE ASE

OVER £1,000,000 FOR 3 SALES.

ffer Press Association, Copyright).

WELLINGTON, December 18

At the three wool sales already held in the North Island this season,. 72,500 odd bales have been sold, and have realised over one million pounds, as compared with slightly over £397,000 for 66,300 bales sold during the corresponding period last season. The gross value of the whole of the wool sold in the Dominion during the year ended June 30, 1933, was £4,327,692, so that the first three sales in the North island alone this season live already realised one-quarter ot that amount.

£193,000 REALISED AT TIMARU.

130 PER CENT. INCREASE SHOWN.

TIMARU, December 18

As a result of the wool sale at Timaru on Saturday, £193,111 will be available for distribution at the prompt date of December 30.

The average per bale worked out at £lB 2s, compared with £7 17s 4d for the first sale last" season, when 9,432 hales were sold for £74,698, . The clearance at the sale on Saturday was 10,674 bales. The increase on last season was 130 per cent.

OPTIMISTIC TONE AT SYDNEY.

SYDNEY, December 15,

|The ihatlf year’s isales resulted, in 637,348 bales of wool being sold for £12,000,026, or an average °of £lB 16s 6d per bale. The sales closed with prices at the highest- point of the season. The average price a year ago was £lO 18s '4d per bale, or 8.3 d per lb. Experts are of the opinion that the present buoyancy will be maintained next year, though it must be remembered depreciated currency plays a part in the' high prices' obtaining. ’lt is: the best omen for growers and public that has been known for years. It will be possible to, improve ~ stationsand flocks, with -Consequent benefits later on values. Sheep have practically • doubled, and there is some improvement in the demand for land. !

AUSTRALIAN WOOL MARKETINGS,

SYSTEM SAID TO BE MENACED

1 YDNl^^lJecemlS?r‘’lß. The Australian system of wool marketing is menaced, according to. a well informed contributor to the “Sydney 5 Morning Herald,” who declares/ that there has been a remarkable growth of the selling of wool on the. ,station or the farm, He estimates that four times more wool is this year being sold in the country districts by private treaty than, last season, a large percentage of it comprising the best: wools, which is shipped direct to the j mills abroad. He also estimates that | a considerable proportion. of the wool sold in this manner was obtained at from twopence to fourpence per pound below the current auction values. The. correspondent contends that tins sort of thing is bound to force down the levels at auction, and eventually to lead to chaos.