WOOL SOLD PRIVATELY

Press, Volume CII, Issue 30170, 29 June 1963, Page 13

WOOL SOLD PRIVATELY

Investigation In Australia

Private selling of wool in Australia is to be investigated by the new marketing committee of the Australian Wool Board, according to the news service of Dalgety and New Zealand Loan, Ltd.

The president of the National Council of Wool Selling Brokers of Australia (Mr J. S. Gale) recently warned growers of the danger of private selling. It was estimated that about 7 per cent of Australian-ehom wool production was being sold privately. In Western Australia some wool auctions were postponed because of Lack of supplies due to graziers selling their dips privately. In the 1961-62 season 134.516 bales of greasy and scoured wool was sold privately in New Zealand through brokers and dealers. This represented almost 9 per cent, of all greasy and scoured wool sold in New Zealand. According to an estimate given in Christchurch, private sales in the season just ended may amount to at least 150,000 bales.

The Australian marketing committee will also investigate the present wool marketing system and possible

improvements to it, a reserve price scheme within the auction system, a central appraisement icherne as described by the wool marketing committee of inquiry in its report published last year, and an acquisition scheme with sales at negotiated or quoted prices. The committee will also be free to consider any other marketing schemes thought worthy of investigation but not Listed in its terms of reference.