WOOL PRODUCTION IN AUSTRALIA

Press, Volume XCVII, Issue 28480, 9 January 1958, Page 14

WOOL PRODUCTION IN AUSTRALIA

Effect Of Lack Of Rain

The lack of rain in some parts of Australia during the last month is expected to seriously curtail the production of wool in that country, according to a report from Winchcombe, Garson, Ltd., a firm of Sydney woolbrokers. The Commonwealth Statistician's first estimate of total 1957-58 production (including fellmongered and other wools) was set at 1603 million lb. This is now expected to be only 1463 million lb, or 6y 2 per cent, below production during the 1956-57 season of 1565 million lb, says the report. While the most recent Sydney wool auctions showed a weaker tendency in early sales, this movement was arrested toward the end of the series, which closed the Sydney sales for the half year at the ■ best point of the week. As the series progressed, there appeared to be a widening in the United Kingdom demand, and with an offering containing some of the best superfine wools seen so far in Sydney, the market for these was strong. Practically all descriptions of Merinos, comebacks and crossbreds moved in sellers* favour.

In addition to the improved United Kingdom inquiry, buyers were faced with a revised estimate of production which indicated that it was now likely that the 1957-58 . Australian wool clip would be about 442,000 bales less than was originally anticipated. Previously it has been sug--gested that 4,940,000 bales would pass through brokers' stores during the selling season, but adverse seasonal conditions have reduced this to 4,498,000 bales. Invercargill Sale Realisations (New Zealand Press Association) INVERCARGILL, January 7. A decline of 13.38 d per lb on the double sale of December, 1956, was shown with the 44.71 d per lb average at the Invercargill wool sale on December 9. Altogether 33,163 bales of wool were sold for £2,072,683, an average of £62 10s a bale. The average price per lb for all Invercargill sales in 1956-57 was 57.22 d or 12.51 d above the average for the sale last month,* and the average price for the whole of New Zealand last season was 54.68 d or 9.97 d above. The decline on last season’s high prices continues to be marked, but to date this season the prices have been on about the same level as those ruling in 1955-56 when the Dominion average was 46id. STEADY PRICE FOR HIDES First Auckland Sale (New Zealand Press Association > AUCKLAND, January 7. Prices for hides at the opening sale of the New Year in Auckland today were mainly steady to firm on 1957 closing rates. The offering was a small one. In one catalogue, there was only one offering from country butchers owing to lack of labour at the stores over the holiday period. Auckland abattoir ox, cow and bull hides were steady on last year’s closing rates. Prices for yearlihgs in all offerings were firmer, with the exception of pelts, which were unchanged. Top prices in the catalogue of salted sheepskins were down on those of the last sale. Three-quarter wodlled skins sold Is 6d lower at 20s 6d, while second grade full wools were down 2s to 255. Top-priced dry sheepskins were also weaker. Three-quarter and full-woolled skins falling 5d and 4d per lb respectively.