WOOL GROWING RETURNS

Taranaki Daily News, 18 September 1940, Page 2

WOOL GROWING RETURNS

GOOD SEASON'S PRICES APPROACH TO RECORD Results to producers from the 1939-40 wool season must be regarded as very satisfactory, particularly when it is appreciated that the realisations took place systematically at stable prices during a period of international crisis without parallel in the world's history, says Dalgety's Annual Wool Review. To have handled a record turnover in such circumstances, and to have approached record figures with the wool cheque was, indeed, a remarkable achievement, only made possible by the acquisition of the clip by the Imperial Government. The wool purchase schcme was a mutually advantageous arrangement, assuring the stability of the industry in war time, and conserving supplies of wool for England and her allies, while preventing this essential commodity from reaching enemy countries. The record volume of wool in Australia was due to increased production and to the fact that the Imperial purchase brought practically the whole clip into the appraisement scheme. The big aggregate cheque was attributable to Ihe increased quantity handled and not to inflated values which had been the determining factor on previous occasions. The fiat rate purchase price provided returns to growers considerably in excess of the previous season's results. The combined Australian and New Zealand wool cheque of £73,100,748 was made up of £60,365,672 on account of the Commonwealth and £12,735,076 from New Zealand. The Commonwealth total compares with £39.123,031 in 1938-39, an increase of £21.242,641. The New Zealand cheque of £12,735,076 compares with £9.386,375 in 1938-39, an increase of £3.348,701. At the lowest point of the depression years (1930-31), the Commonwealth and New Zealand wool cheque was £31,204,332, mr.de up of £27,645,745 for Australia and £3,558,587 for New Zealand. Compared with that season, the latest combined figures are £41,896,416 better, the Commonwealth figures being £32,719,927 higher and the New Zealand figures £9,176,489 more. The production of the Commonwealth for the 1939-40 season amounted, to 3,669,400 bales, compared with 3,219,444 bales during the previous season, an increase of 449,956 bales. The weight of the clip was 1,120,890,6081b, compared with 970,698,1071b in 1938-39. The average weight of the bale was 3051b compared with 302 lb the previous year. Adding to the Commonwealth figures the New Zealand total of 887,971 bales, weighing 303,153.3001b, we have a grand total for Australia and New Zealand of 4.557,371 bales, weighing 1,424.043,9081b, which compares with 4,140,565 bales weighing 1,284.828.0021b in 1938-39. The average weight of 3121b compares with 3101b the previous season.