DUNEDIN WOOL SALE

Dominion, Volume 28, Issue 113, 6 February 1935, Page 10

DUNEDIN WOOL SALE

Firmness on Late Rates

Expected CONTINENTAL FACTOR Dominion Special Service. Dunedin, February 5. Little has transpired in tlie wool market cither in New Zealand or overseas during tlie past two mouths to encourage the hope that values at tomorrow’s auction will present any appreciable advance on tlie rates ruling at tlie first Dunedin sale in December. Growers are entitled, however, to anticipate a firmness on late rates. Any improvement in tlie price level, will depend upon the extent to which the speculators, who were fairly active at Invercargill last week, are prepared to operate. , , It is unfortunate for sellers that the activity of Continental operators, which was one of the features of the first Dunedin sale, has since diminished noticeably, leaving Bradford more or less to dominate tlie market.. But Bradford even is operating within strictly defined limits. There is consolation, however, in the fact that the simultaneous offering of large supplies of wool in Australia, South Africa, London, Argentina and New Zealand has not had any serious ill effects as far as the demand for the staple goes. Continental Outlook Not Bright. The outlook for business on the Continent is still not very bright, but there are not lacking signs of a slight improvement. The current season, like most of the post-war years, has forcibly demonstrated to woolgrowers that their welfare not only depends on seasonal conditions and the production of a good clip. Influences on the industry extend from paddock and woolshed to circumstances existing among consumers in every corner of the world. The average prices per lb. and per bale, witli the total sales and gross receipts at the December sale this season were:—Total bales sold, 15,799; total proceeds, £168,017/19/1; average price per lb., 7.94 d.; average price per bale, £lO/12/8

1934 figures compare very significantly with those of the first sale of the 1933-34 selling season, which are as follows: Total bales sold, 29,294; total proceeds, £561,734/11/4; average price per lb., 13.89 d.; average price per bale, £l9/3/6.