THE WOOL MARKET

Dominion, Volume 26, Issue 280, 22 August 1933, Page 12

THE WOOL MARKET

Results to Producers

LAST SEASON’S VALUES

The vicissitudes of the pastoral industry are strikingly exemplified in the analysis of results to producers during recent seasons, says Dalgety’s annual Wood Review. A decade ago the woolgrowers were enjoying wonderfully remunerative values for the product of their flocks, and facing an annual improvement despite a steadily increasing turnover. Four years ago came a staggering change from affluent to depressed times. Woolgrowing in the main was rendered unprofitable, and has continued so. Through the greater part of this period of depression, however, the grower was favoured with the most bountiful of seasons, and was able to largely increase the volume of production, and fortunate, in view of the world-wide economic conditions, in finding customers for a substantially increased output, and new users in Japan absorbing the wool that might otherwise have accumulated unsold. Although a very substantial advance in wdol values took place in the last few months of 1932-33, the movement was too late to benefit the great majority of woolgrowers, as their wool had been sold, and whilst the averages of the closing sales showed very much better results, rhe movement was more useful in restoring hope to the industry than in actually benefiting the bulk of the growers. Those who were fortunate to have wool in the final sales were to be congratulated upon the demand and the results. Many, however, who shared in these sales were unfortunate in another respect, for they had been forced to shear owing to drought conditions. Thus the promise of higher prices in the coming season is discounted in many cases by the certainty of; a much smaller clip. Record Australian Production. The outstanding feature of the season was the record production and the establishment of figures which are, unfortunately, not to be repeated in the coming season. There was a moderate but welcome increase in the wool cheque, but it was due in a large measure to the increased turnover. The Australasian wool turnover amounted to 3,635,779 bales, and the wool cheque to £39,370,746, the figures comparing with 3,188,981 bales, realising £33,214,644 in the previous season. To illustrate where the trade stands as compared with pre-depression times, it is necessary to quote the 1927-28 season's figures, when 2,955,585 bales realised £73,877,862, A comparison of the annual Australasian wool cheque with those of the three previous years of slump conditions, and of three yearly averages going back to the pre-war days, gives the following interesting figures:—

1932-33 season’s wool cheque 39,370,746 1931-32 season's wool cheque 33,214,644 1930-31 season’s wool cheque 31,204,332 1929-30 season’s wool cheque 39,054,959 Av. three previous seasons 69,345,295 Av. three past scheme years 37,049,615' Av. three wool scheme years 58,657,516 Av. first three war years .. • 32,532,602 Av. three pre-war-years .. 24,468,089

As compared with the 1930-31 season’s figures, which represent the lowest point of realisation during the years of depression; the Commonwealth figures of 193233 show a recovery of £7,397,309, and whilst this may be taken as the additional wool money 'brought in circulation, it is well to realise that the result was mainly brought about by an increase in the sates turnover of 578,300 bales. The actual improvement in the average price per bale as between the two seasons referred to was 6/3 per bale. Average Values. The average value throughout Australia and, New Zealand was £lO/16/7 per bale, or 8.29 d per lb, as compared with £lO/8/4 per bale, or 8.04 d per lb, in 193132; £lO/13/3 per. bale, or 8.2 d per lb, in 1930-31; and £l3/2/2 per bale, or 10.2 d. per lb, <in 1929-30. The record average was made in 1924-25, when £33/13/10 per baie was netted for a clip of 2,050,545 bales. The Commonwealth average came out aft £ll9/11.per bale and 8.96 d per lb, as compared with £lO/18/5 per bale and 8.58 d per lb the previous season, and with averages of £ll/2/10 per bale and 8.7 d per lb in 1930-31; £l3/5/9 per bale and 10,5 d per lb in 1929-30; £2l/11/10 per bale, and 16.7 d per lb in 1928-29; and £25/4/9 per bale and 19.9 d per lb in 192728. A Comparison of Averages. A summary of the Australian and New Zealand averages, as compiled by Dalgety and Co., Ltd., for a number of seasons past, illustrate the fluctuation in pastoral results. The 1924-25 average was a record one, but since that time there have been some drastic changes in the position of values. The averages of the past three seasons are very disappointing :—

Quiet Conditions By Telegraph—Press Assn. —Copyright. London. August 20. Mr. W. P. Devereux, representative in London and on the Continent, of Australian woolgrowers, reports that although most commodity prices have shown declines, resulting from the American situation, the wool markets on the whole have remained unaffected. Quiet markets are reported in all wool centres in the United Kingdom owing to the holidays. The French and Belgian markets are described as slow. The Antwerp and Roubaix futures markets on resumption of business have largely recovered the decline previously reported. • The announcement of the termination of Mr. Devereux’s appointment has been received with regret in Yorkshire wooltrade circles. AUCTION DIARY TO-DAY. c 91 Dixon St., 1.30 p.m.—Unreserved' Sale of Superior Household Furniture (C. W. Price and Co.). WEDNESDAY. Johnsonville Fat Stock Sale. 12 noon (W. S. & Co.). THURSDAY. Farm, Hunterville, 1 p.m.—Sale of Pedigree Frlesians (A. & W. Ltd.). Rangltlkel St., Palmerston North, 2.15 p.m. —Sale of Land (N.Z. Loan & Mere.).

£ s. d. 1932-1933 10 16 7 1931-1932 10 8 4 1930-1931 10 13 3 1929-1930 13 2 2 1928-1929 21 10 6 1927-1928 24 19 11 1926-1927 0 1925-1920 20 19 4 1924-1925 33 13 10 1923-1924 29 9 9 1922-1923 22 9 8 1921-1922 8 1 1920-1921 15 12 7 1919-1920 22 15 7 1918-1919 22 13 11 1917-1918 22 8 5 1916-1917 21 12 8 1915-1916 16 10 10 1914-1915 12 15 7 1913-1914 13 4 11 1912-1913 13 13 1 1911-1912 11 15 5 1910-1911 12 10 4 1909-1910 13 12 .2 1908-1909 11 6 10 1907-190S 13 0 o 1906-1907 14 3 11 1905-1906 13 10 3 1904-1905 12 13 1 1993-1901 12 0 0 1902-1903* 11 18 4 1901-1902* 9 6 4 1900-1901* 8 11 10 1899-1900* 16 14 8 1898-1899* 10 18 6 ? Exclusive : of New Zealand.