LOW WOOL PRICES

Dominion, Volume 26, Issue 112, 4 February 1933, Page 10

LOW WOOL PRICES

Slight Improvement Noted

at January Sale

GROWERS’ SMALL RETURN

Official figures covering the results of the December and January wool sales at Wellington show that over £333,000 was realised by the pastoral industry of the province in the disposal of 50,152 bales.

At the December sale, according to the returns compiled by the Wellington Wool Brokers’ Association, the total offering was 29,116 bales, of -which 23.30-1 bales were sold. The quantity passed in, 5812 bales, represented nearly 20 per cent, of the total offering_._The net weight of wool sold was 8,4..>5,<51 lb., and the gross proceeds were £144,401/4/5. Evidence of I lie low values ruling is afforded by the fact that the average price of the wool sold was only £6/3/11 per bale, and the average price per lb. only 4.098 d. There was an improved tone in the wool market at the January sale which made a belter showing. The total quantity offered was 28,474 bales, of which 26,848 bales, or rather more than 91 per cent., were sold. The quantity passed in was only 1626 bales. The net weight of the wool sold at the January sale was 9,648,1941 b., and the gross proceeds were £188,743/9/10.

The improvement in the market can be measured by the fact that the average price of the wool sold was £7/0/7 per bale, and 4.695(1. per lb.