WELL SATISFIED

Dominion, Volume 27, Issue 69, 14 December 1933, Page 13

WELL SATISFIED

Christchurch Brokers of Wool PASSINGS CLEARED Dominion Special Service. Christchurch, December 13. Although most firms of woolbrokers have not yet worked out the average prices received for catalogues at yesterday’s wool sale, figures taken out by one firm show an appreciation in -values of more than 100 per cent. The first sale last year yielded this firm an average of £B/8/3 a bale, while the sale- yesterday averaged £lB/7/a. The price a pound this year was 13.18 d and last year 5.97 d. If this aveiage is maintained throughout other catalogues it will mean that the return to the farmer from the first sale will be a little less than £400,000, compared with a return of £199,351 last year. Brokers generally are very well satisfied with the sale', some of them more so than they expected to be. North Island sales, ou which all brokers based their estimates, were not a particularly good comparison and most of them were inclined to be conservative. The broker whose averages have been quoted said to-day that the return was just about what he expected. He had attended some of the North Island sales and saw the way prices.were going. Nevertheless, he expressed complete satisfaction with the outcome, which, he said, would put new heart into the Industry. One company manager expressed gratification that the lower wools had sold so well. Many farmers who had been pegging away for years at a loss would this"year be able to show a profit. He mentioned that not all the-rise in the value of crossbreds was due to the rising market, but explained that many farmers had used fine-woolled rains and thus secured a far-better return. One instance of this was’the experience of a Peninsula farmer, whose wool , last year made 4Jd, and- this year made 124(1. / . .Staffs in all offices were to-day .busy with their averages, and in almost every case a price of £l7 a bale was anticipated. The one completed set of figures seems to indicate that this will be exceeded, because the catalogue on which those averages were based was representative of the whole sale. One broker said he expected many of the half bred clips which his firm had sold to make £2O a bale on. the average, a price almost double the return from the first sale last year; The inquiry for wools passed at the sale has been very good. One broker said he was got out of bed a little before midnight by a buyer anxious to obtain some of the wool passed, at fhe sale. The inquiry after the sale was even keener than at the sale itself. This broker said that almost all his passings were and at prices which he thought would average up to a penny a pound more all round. Those most closely in touch with the market share the optimism they felt in 1924. They can. see no reason why prices should not hold at present levels throughout the season.- “We cannot look for a startling improvement,” said a broker, “but we can fairly safely, look forward to a continuance of the present, values.” . ..