THE WOOL OUTLOOK.

Ashburton Guardian, Volume 54, Issue 93, 30 January 1934, Page 8

THE WOOL OUTLOOK.

AUSTRALIAN INCREASES. SIX MONTHS' FIGURES, SYDNEY, January IS. The wool market in Australia continues extremely firm, and it is of interest t,o note tliat realisations for the first half of the current-season—to the end of December amounted to £31.000,000. This figure was only about £7 000,000 less than the amount for the whole of last season. It is estimated that there are still more than 1,000,000 bales to be sold by brokers in Australia this season. The rise in prices shown at the first sales of 1934 indicate ciiai., unless there is "a-material easing of the market, wool should command from now on until the end of June an average price of £2O a bale. This on a conservative estimate would give an aggregate realisation for the current season oli considerably more than £50,000,000 or, taking into account wool sold through channels other than brokers or sent overseas, nearly 50 per cent, more than last season. Sales of greasy wools throughout the Commonwealth for .the first half of the current season showed an average of 14.65 d a lb and £lB 17s 8d a- bale compared with 8.65 d a lb and £ll 4s 6d a bale for the corresponding period of last year. The average for December were'l6.47d and £2O 9s 2d a bale, compared with 8.43 d and £lO 18s 2d in December, 1932. It is estimated that current values are at least 10 per cent, higher than those of last month, and should they'bo maintained an average 0f%i20 a bale for the remainder cf the season would be assured. The average price per bale cf greasy wool over the whole of last season was £ll In Id. Realisation by Australian brokers to the end of December amounted to £28,574,692, to which has to be added about 10 per cent, to cover wool disposed cf otherwise than by brokers and wool shipped overseas far sale. Last season's receipts amounted to only £34,410,300 through brokers' ..sales, giving an aggregate, with the addition of 10 per cent., of about £37,851,300. Wool in store for sale at thje end of December amounted to 779,574 bales. Early in the season the) estimate of the total Australian clip was placed, at 2,942,500 bales. The figures were later revised. In order to reach the revised joint estimate cf the National Council of Wool vSelling Brokers of Australia, and the Australian Wool Growers' Council 310,000 bales have yet to come •to hand.