WOOL SALES
PRICE RECOVERY
SELLERS MEET MARKET
General satisfaction was expressed in the city yesterday at the recovery in the price of wool as revealed by the Wellington sales, held yesterday. The catalogue of rather over 20,000 bales was got through in good time, as uot only were buyers eager to fill their orders to the utmost of their limits, but growers were in the mood to sell, to take the market as it is to-day. Some owners of wool held back, but they were so few that it is safe to say that 99 per cent, of the wool put up to buyers was disposed of under the hammer. The return will represent a total cash payment iv the Wellington district in particular with some participation of Hawkcs Bay in the proceeds of a total wool cheque amounting to quite £200,000. The London market is relatively buoyant, and that i'acfc was corroborated by the Wellington results yesterday. Current prices, of course, are not what they were this time last year, and some growers, no doubt will hold that improved as tho ninrket in, the prices ;irc still below cost of production, but the improvement in the situation \\\ iiny rase is a matter for congratulation and it should do much, if sustained, to re-establish confidence in the Dominion to emerge from its present economic difficulties, a confidence which many have never lost.
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Bibliographic details
Evening Post, Volume CXI, Issue 68, 21 March 1931, Page 10
Word Count
232WOOL SALES Evening Post, Volume CXI, Issue 68, 21 March 1931, Page 10
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