HOLDING OFF.

Auckland Star, Volume LXI, Issue 212, 8 September 1930, Page 4

HOLDING OFF.

FARMERS SEEK BETTER PRICES. HEAVY STOCKS OF WOOL. Dissatisfied with the prices ruling last season a large number of growers refused to part witli their wool, preferring to take their chance with the market next season. The result has been that large quantities arc still held in wool brokers' stores. These could be closely estimated but the quantities held by farmers themselves and other interests have only just become available through returns published ia the Government's Abstract of Statistics. According to the official computation the total stocks on June 30 were equivalent to 81,500,0001b of greasy wool, as compared with 27,500,0001b a year nsrn. Following is a summary of the annual returns for the last five years, showing the official estimates of greasy wool by weight and the approximate equivalent iu bales:— Pounds. Bales. 1026'..:... 19,800,000 58,200 1027 19,000,000 55,900 1928 18,800,000 55,300 1929 27,500,000 80,900 1930 81,500,000 240,000 Even at the low rates realised last season, the stock of wool held in the Dominion must be worth in the neighbourhood of £3,000,000.