GREAT DECREASE

Dominion, Volume 31, Issue 190, 10 May 1938, Page 14

GREAT DECREASE

Wool Sales Realisations DOMINION FIGURES The value of wool soldjn New Zealand this season was £8.793,873, against £14,993,257 last season, according to figures issued by the New Zealand Woolbrokers' Association, alter a meeting in Christchurch. The difference in total realisation is thus £6,109.384, but as the Wool; in-okers' figures contain particulars of word sold at auction only, the actual deficit will be larger, almost certainly more titan £7,000,000. . Details of this season’s sales and those <>f last season are:—

The most surprising item in the figures is the larger total offering, an unexpected development in a year generally considered to be one of light clips. There was practically no carry-over from the 193637 season into this season, so the larger offering is probably a reflection of the larger flocks of the Dominion. Passings were considerably heavier than was the case in the 1936-37 season, but were probably little above normal. Passings were very heavy in the earlier sales, and at an occasional late sale, but in general growers met the market exceptionally well. Last season, when prices were consistently rising, passings. were exceptionally low, and the figure is apt to exaggerate by contrast the passings of this season. . The total returns amounts to a lull of •11 per cent., which was about what had been expected in the trade. The season’s carry-over should not be more than about 73,000 bales. The,- value of a bale is a little better than the average of the 10 years before the war, but it is not a good return in comparison with those since the wartime control ceased. In the 18 seasons since 1920-21, the average a bale of £l4/6/2 has been exceeded nine times, and has exceeded the average of eight other seasons. The best bale average was obtained in .1924-25 when the figure rose to £29 5/- a bale.’ Wool Sold Privately. The Woolbrokers’ Association figures cover only wool sold at auction, and do not take into account the wool shipped on owners’ account for sale overseas, nor wool bought, privately in New Zealand. Exact figures are difficult to obtain, as the trade work’s on a wool year from June to June, and the Government Statistician on the calender year but for the two seasons before this, the number of bales sold at auction here wits about fourfifths of the total shipped, and the value of wool sold at auction was about threequarters of the total value received. Applying these figures, it would appear that the total sale of New Zealand wool this season will be about 768.000 bales, and the total value £11,725,000. This would give a decreased total return from wool for this season of £7,048,000. London Wool Market 'The Bank of New South Wales has received the following cable message from its London office dated May i 1* Wool: At sales commencing May 10 prices expected to be firm at last sales closing levels. Mutton: Ewes, 2ijd. to 4d.; wethers, 4d. 'to 5Jd. Lamb, 7 l-Bd. to 7 7-Bd. Pork, 6 7-Bd. to 7d. Butter, 129/6. Cheese: White, 69/-; coloured, 69/-.

1936-37. 1937-38. Bales offered 668.397 687,718 Bales sold .. 663.798 614,609 Total weight 226,089/J‘J1 210,151,212 Total value . £14,903.257 £8,793,873 Avera DPT ge price— lb 15.829. IO.O43<1. a bale .... £22/9.'£14/6/2