WOOL SALES

Greymouth Evening Star, 17 November 1934, Page 5

WOOL SALES

PRICE PROSPECTS REVIEWED. [PER PRESS ASSOCIATION.] CHRISTCHURCH, November 16. The President of the New Zealand Woolbfokers’ Association,. Mr j. Maling, has issued a statement reviewing the Australian market, and the prospects for the early sales in the Dominion. He states that the latest information from Australia is that up to October 31, the new season’s wool received into store was approximately 1,660,000 bales, of which 467,000 had been,sold and shipped. For the.same period of 1933 the wool received, into store was approximately 1,680,000 bales,, of. which -788,000 bales were sold and shipped. Mr Maling states that it is apparent that .the season’s low prices have Caused a* hold-over of more than 300,000 bales, which accumulation will come on to the market during the New Zealand season. After stating that the average prices in fine wool centres in New Zealand are considerably below those in Australia, Air Maling quotes the 'Australian averages for the new season as follows: July, 9.18 d; Augtlst, 10.14 d; September, 8.77 d; October, 9.48 d. He states, that the latest advices from the National Council of Wool Selling Brokers of Australia are that prices are likely to be stabilised at the October values. Mr Maling adds: “This should provide a guide to the growers as to what New Zealand values will be at the commencement of the season for fine wool.” GERMAN POLICY. BERLIN, November 16. In order to encourage the breeding of sheep in Germany for wool, the railways are reducing their freight charges for wool that is sheared from German sheep by 25 per cent. A Government department, with branches, will control this distribution. The German Government is urging the people to eat more mutton, the price of which will be controlled. The official trade statistics for October show an export balance of approximately £1,000,000 for the first time since March.