COMMERCIAL

Feilding Star, Volume 3, Issue 552, 29 December 1925, Page 5

COMMERCIAL

THE WOOL POSITION The Mon. Edmund W. Barker, chairman of Dalgety and Co., in recently reviewing the wool position, said: '“The- joint production of Australia and New Zealand reached the total of 2,-(186,554 hales—an increase of 318,093 bales over last season, Attempts imiVlc to check’ the 'downward trend of prices by strictly limiting the offering'wore not .successful, and by the end of April the demand had fallen off to such an extent that it was found necessary to suspend the auctions in Australia altogether. Fortiinelv, for New Zealand, the full severity of tli-p, fall was not felt there, as the season had closed before that time and the hulk of (he wool had boon sold at satisfactory prices. At the time of the suspension of the auctions in Australia there remained about. 455,000 hales of the current clip to lie disposed of, and it was A«t found desirable to- resume the sales until the second week in July. The addition of new clip wools increased Ihe carry over at the 30th June to over 500,000 hales. In spite, however of the lesser quantity sold and the low values ruling in the latter part of the season, the monetary return was greater, being .069,083,182 as against £04,929,298 for the 1923-24 season. The average per hale worked out at 033 13s KM, as against 029 9s 9d, while the all round price per lb was' 24.7. compared with 21.93 d in 1923-24. The suspension of the sales had a good effect, for it allowed the buyers a certain amount of breathing •space which enabled them to recuperate their resources, and, since the auctions had been resumed in Australia, selling mad continued practically unabated with a welcome clearance of the offerings and a certain stiffening of values. A lost centres had cleared up a. large proportion of their arrears before the new c7!p began to roach the market.”

RUTTER i’N BETTER DEM A NT) The N.Z. Farmers’ Co-operative Distributing Company lias just received the following cable from tbe London •Office: - flic butter • market is quiet, with a slightly; better demand at lower prices. Present official prices: Australian 1 -14 sto 158; New Zealand 152 s to 166, Argentine 140 s to 1465.