ONLY EIGHTPENCE

Evening Post, Volume CXII, Issue 2, 2 July 1926, Page 9

ONLY EIGHTPENCE

BUT IT TOTALS HIGH

STABILITY IN WOOL MARKET

Tho value of stability to business is emphasised in a circular issued by the New Zealand Farmers' Union: "The main characteristic of the wool market during the past season was its stability, and in consequence buyers whose confidence in the trade had gradually strengthened showed keeness to buy right through the season. Prices for the best wools have been satisfactory, but unfortunately there was a large proportion of broken and wasty wool caused by the long wet winter and the backward spring.

SHRINKAGE SIX MILLIONS.

The season commenced in Wellington on the 16th November, when 9795 bails were offered and 9175 sold. The average price worked out at 13.37 d per lb, or £19 5s 2d per bale. At the various sales throughout the season there were no marked variations, and the season finished up with a total of "471,583 bales being sold at an average price of 11.93 d or £17 Is 8d per bale. Last year the number of bales sold was 440,369, at an average price of 19.95 d per lb, or an average of £29 5s per bale. From the above figures it v is readily seen there was a decrease of 8d per lb all round, which to the sheep-farmers of the Dominion represented a shrinkage of about £6,000,000. Bradford's best opinion to-day is that both onerino and crossbred wool is costing enough to be in line with safety and to encourage business. Nothing Buits Bradford better than reasonably priced wool, because then the looms are running full time. The manufacturers there do not want any more wild, frantic markets, to be followed by another serious decline! During the year, which ended on 31st March, we exported 606,660 bales of wool, valued at £13,284,232."

SELLING TO FREEZER PAID BETTER.

Tho total value of New Zealand's exports of frozen meat for the year ended 31st March was £10,126,095. In a circular the New Zealand Farmers' Union states:

"By selling their meat at the freezing works farmers had far the best of the deal in the 1925 season; many exporters making a loss on the year's transactions. Notwithstanding the fact that exporters have been very cautious in their purchases this season, prospects are not too bright, for apparently they will not have a very big margin to work on."

The prices paid for fat stock during the season were, as compared with the preceding season, considerably less, because, among other things, there was a favourable fattening season in Britain, because the shipping strike upset the balance of New Zealand's old season's kill, and because of Australian developments: "The output of lambs from the Commonwealth was considerably ahead of the two previous seasons. In an ordinary season the output is reckoned at one million lambs, whereas this season's shipments will reach 1,900,000. Australian lamb commences to go on the London market at the end of October, and the greater quantity is off the market before our main shipments reach' there, but owing to the strike last October the usual shipments were delayed, with,the result that considerable'quantities of Australian lamb were still on the London market when our main shipments commenced to reach there."