WOOL PRICES.

Press, Volume LXIV, Issue 19462, 8 November 1928, Page 12

WOOL PRICES.

A DECLINE EXPECTED.

[THE PEESS Special Service.]

WELLINGTON, November 7. 'An increase in the total wool clip, but a more than compensating decrease in prices,, is forecasted by a Do-minion-known expert acting for one of the largest firms of stock and station agente in the country. "There is no doubt that the prices paid this year will be on a lower level," said the expert. "The New

Zealand average for last .season was 16.67 d per lb. We expect the opening prices to be about those paid at the December sales for crossbreds, but merinos will be considerably lower. A great deal depends upon American and Continental competition. These will affect our super-Romneys considerably. "On a parity basis merinos will show the biggest drop since last year. They sold as' well in the early sales as at the end of season, whereas crossbreds appreciated in price throughout the selling period. * • "On the other hand the crop will be heavier—we estimate by from. 5000 to 8000 bales. The average per bale last season was 3441b, which was lib below the average two years ago- After the good winter we shall more than make up that pound. "At tho same time this increase will not compensate for the lower prices >hich mav be expected. The total production last season, including sltpes and scours, was 665.000 bales. In order to aUyie for the drop in price our production this year should be up at least 20,000 bales. "From December to March this season, we hope to stabilise prices, and the grower should eet a return of,from 15d to 15Jd per lb."