RETURN TO FARMERS

Evening Post, Issue 25, 30 January 1935, Page 14

RETURN TO FARMERS

CHRISTCHURCH SALE

Approximately £200,000 will be paid to the accounts of the. farmers of Canterbury when the proceeds of Monday s wool sale are distributed, says the "Press." ' The return from the December sale was £190,760 for 17,134 bales, the average price being £11 2s 8d a bale. Approximately 22,500 Imles weresold on Monday, at about £11 15s a bale. The increased return fro m the sale will be due partly to the larger number of bales sold and partly to the encouraging rise, which amounted; to approximately %d a pound. The sale was very much more encouraging than was expected in face of the weakening at the last four sales in the North Island. The wool offered included some of the best the Dominion produces, and the whole catalogue was of the high quality usually associated with the second Christchurch sale each season. Bidding was steady, with competition for all sorts more distributed and more forceful than it was in December.

The figure given, £260,000, is only an approximation, as the actual return will not be known probably for a fortnight. Before the official announcement is made, every bale must be assessed individually for .its weight and' its value, and an average struck when every bale sold has been taken, into consideration. It is- obvious, however,- that the return will be substantially bigger- than that for the December sale.

Top price at the sale was 15%d. At the January sale last year it was 27%d, but.last year the sale was a phenomenal one, and values for the finer wools rose by as much as 3d a pound. Coarse wools at the January sale last year were weaker, but there was encouragement for some farmers yesterday in that the sale for the small amount of coarse wool offered Was distinctly better than it was in December, and sold at decidedly firmer rates.' The sale was regarded by everyone concerned as satisfactory in the circumstances, and by most of the brokers surprisingly so. because most of them were pessimistic after the weakening of the markets overseas.

Messrs. Dalgety and Company, Ltd., Teport:—Wool market continues firm for all good greasy merino. Scoured merino ratlier higher, .shprt,., faulty, -and wasty 'meriji'os '.irregular.'apdrather easier. Crossbretlfirm .except fine crossbred, 5 per cent, lower. Sales close, on February 8. Our selling dates are February 1 and 5.