NEW ZEALAND WOOL SALES

Press, Volume XCVII, Issue 28532, 11 March 1958, Page 17

NEW ZEALAND WOOL SALES

Floor Price To Continue

(N Z. Press Association—Copyright) WELLINGTON, March 10.

The New Zealand Wool Commission will continue to buy in at floor prices all wool not sold at higher prices during the remainder of the current season’s auction in New Zealand.

Replying to inquiries from the trade and from other interested parties about the continuance of the commission’s bidding at the rest of the 1957-58 season's wool sales. Mr G. A. Duncan, chairman of the commission, said today: "It is and will be the policy of the commission to continue to give full support to the market, and to buy in at floor prices all woo] not bought by commercial buyers at above the floor prices.” Mr Duncan said that the floor prices already fixed for the current season were based on an over-all average price for the clip of 33d per lb (greasy basis) and individual floor prices for the many types of wool (numbering about 1000) varied above and below this average according to the style, quality and yield of the wool.

SYDNEY WOOL SALES

(N.Z. Press Association—Copyright) SYDNEY, March 10.

Competition was good from Britain, Japan and the Continent at the Sydney wool sales today, the Woolselling Brokers’ Association reported. Values of all descriptions showed a hardening tendency, and were in sellers' favour compared with Brisbane’s closing rates last week. Comebacks and crossbreds were generally firm at late rates. Of the 12,645 bales offered 12,175 were cleared. Wool was drawn mainly fiom central and southern tablelands and slopes, north-west New England and the Riverina districts of New South Wales.

Crossbred prices: good average 60’s, 70d; good average 58’s, 69d; good 60/64’s. 72d. Perth Sale

The Westralian Wool Produce Brokers Association reported that competition was keen, with Britain and the Continent as the mam buyers at the Perth wool sales today. Japan and Australian mills gave good support and values were firm on those in the Eastern States last week, but 12J per ctnt. down on Perth’s February sale. Oi 15,000 bales offered there was a 97 per cent, clearance.

Woolworths (N.Z.) Properties.— Woolworths (New Zealand) Properties, Ltd., has announced an unchanged interim divideno on preitrence shares of 21 per cent. The shares are ex dividend on March 22, and the dividend is payable on April 15.—(P.A.)