OVER THIRTY THOUSAND BALES OFFERED

Grey River Argus, 26 February 1949, Page 5

OVER THIRTY THOUSAND BALES OFFERED

Medium crossbred, 48/50, good to super to 28-id. Halfbred, average 18d to 22d. Crossbred, good to super 19d to 21id; average 175 d to 18” d. Three quarter bred or fine crossbred, good to super 21 d to 22d; average 17d to 19d; inferior and seedy to 14d. Crossbred, good to super 20d to 225 d; average 18d to 20d; inferior and seedy 14d to 17d. Locks: crossbred, 13d to 151 d; halfbred, good to super 35d to 36 ! 1d; average 27d to 32d. Crossbred, good to super 26d to 29d; average 23d to 25d; inferior and seedy 20d to 22d.

N.Z. Wool Surplus Disappearing WEDDINGTON,. Feb 25. The Minister of Marketing (Mr E. D. Cullen) released the first report and statement of accounts of the New Zealand Wool Disposal Commission and United Kingdom Dominions Wool Disposals Dtd. (the joint organisation). Mr Cullen said that the opening stock of 1,777,000 bales on August 1, 1945, had been reduced by 55 per cet, to 800,000 bales by June 30, 1948. It was possible that by June 30, 1949, stocks would be down to 400,000, half of them held in New Zealand and half in the United Kingdom. The, New Zealand Government had agreed to find in fotir annual instalments, the capital represented by one half share it had acquired from the United Kingdom Government in the net value of the opening stocks in the event that the New Zealand Governments’ one half share of the sales of stock wool, less expenses, was insufficient to meet these capital commitments. ‘ .

This one half-share in the opening stocks amounted to £13,290.024 sterling. and the. annual instalments to £3.322,506 sterling for four years. Summarising the position of the New Zealand Government on June 30. 1948. Mr Cullen said that it had one half-share in the sale value of stocks at that date, amounting to 800,000 bales, after allowing for the organisation’s one half-share of the operating expenses incurred during the period of the sale. Out of this one half-share, the New Zealand Government bad had to find the balance of the final capital instalment, ot —1 054,587 sterling and the remainder of the proceeds would represent the New Zealand Government’s shar e of the final, profit, Indeed, while expectations were that the results would finally, yield a profit, there could bo no certainty of this.

SOUTHLAND WOOL SELLS FOR LESS P.A. INVERCARGILL, Feb 25. Although the wool was not quite up to the standard of the January sals, and the prices were slightly easier, there- was an attractive offering. This was the third wool sale of the season and was held in the Civic Theatre, before a full bench of buyers. Thirty.thousand bales of new season's greasy wool, and a few lines of siipes were offered. No purchases were made by the Joint Organisation. Bradford buyers secured a good proportion of crossbred wools. The Continent seemed to dominate the market for the finer wools of average quality. Local mills, bidding for super lines and securing their requirements, did not meet very strong competition. Southdown wool and Corriedale realised up to 515 d a lb. That price was paid for three bales from the Five Rivers district. The prices of middle class cross-bred showed an easing compared with the January market, and lower quality crossbreds were definitely down. Pieces and bellies also showed a slight easing. The top price of the dav was 545 d per pound, paid for a bin lot of an extra super line of Southdown, offered by the Southland Farmers’ CoOp. It was an outstanding line of Southdown, which is in keen demand at the present time, for Italian orders for the hosiery trade. Early in the sale 52Jd was- paid for a lot offered by the National Mortgage and Agency Company Limited. Fine and medium cross-breds showed a considerable easing.. Coarse crossbreds solei well considering the decrease in price. The hogget wools were not as attractive as the January offering. They were inclined to.be dusty and showed a fair proportion of tenderness and were well back on the January sale. All oddments sold particularly well, in some cases only perhaps a penny or two below fleece wool. RANGE OF PRICES The official range of prices is:— Southdown 58/60, good to super, 50d to 52:‘d;average 36d to 40d. Down cross, 50/56, good to super, 42d to 46d. Average 3Gd to 40d. Strong crossbred or fine threequarter bred, 52, good to super 40d to 44d; average 36d to 39d. Fine crossbred, 50. good to super 29d to 31d; average 25-ld to 27? d. Medium crossbred, 46/50, good to super 24d to 26d; average 21:';d to 233 d. Strong crossbred, 40/46. good to super, 22d to 235; average 20d to 22d, soft cots 20R1 to 23d; cots 19d to 21d. Fine halfbred hogget 56/58, good to suner. 38d to 40d; average 35d to 37d. Medium halfbred hogget 56, good 36d to 40a: fine cross hogget 50/54, good to super 29d to 325 d; good 28d to 29d; average 26d to 275 d; medium cross hogget 46/50, good to super 25 jd to 275 d; average 22id to 25Jd. Strong cross hogget 44/46. good to uoer 25d to 28d; average 22d to 25d. '