THE WOOL INDUSTRY

Manawatu Standard, Volume LVI, Issue 125, 28 April 1936, Page 2

THE WOOL INDUSTRY

THE SEASON’S SALES. PROCEEDS NEARLY £9,000,000. WELLINGTON, April 28. An increase of nearly £5,000,000 in the Dominion’s wool cheque up to March 31 this year is revealed in the latest returns issued by the New Zealand Woolbrokers’ Association. The total proceeds of the wool sold at New Zealand auctions for the period totalled £8,869,701. compared with £3,950,197 for the corresponding sales of hist season. The proceeds of the 25 auction sales held to the end of March this year are virtually double those for the whole of last season, which they exceed by £4,383,221. There are still the April sales at Dunedin, Wellington, Napier and ' Timaru to be accounted for, so that the total proceeds for the 1935-36 season should amount to well over £9,500,000. The actual quantity of wool sold this season will be more than iOO,OOO bales or well in excess of that sold in 193334, when the total disposed of at the roster sales was 633,553 bales. The official returns compiled by the New Zealand Woolbrokers’ Association give the following results for the 25 sales held in the Dominion up to March 31, the figures for the corresponding period of last season being shown for comparative purposes: 1935-36 1934-35 Offered (bales) 4 681,731 478,007 q O M (bales) 657.731 424,150 So d lb) 230.188,765 145,996,139 Total realisation .... £8,869,701 £3,950,197 Average prices:— Per lb (pence) ... 9.248 6.49 Per bale £l3/9/10.949 £9/6/3,17 The total offerings of wool to March 31 this season show an increase of 203,724 bales, or 42.62 per cent., compared with those for the corresponding period of last season, while the actual sales at auction, totalling 657,228 bales, increased by 233,078 bales, or practically 55 per cent. Of the total of 681,731 bales offered this season to March 31, 657.228 bales, or well over 96 per cent, was sold at auction. The total weight of wool sold to March 31. at 230,188,7651 b, exceeds that sold, during, the corresponding period of last season by 84,192,6261 b. The total realisation of the wool sold to March 31 was £8,869,701, an increase of £4,919.504, or well over 124 per cent., compared with the total of £3,950,197 for the corresponding period of last season. The average price per lb was slightly more than 2|d (2.758 d) higher, and | the average price per bale was £4 3s 7£d higher than for last season. The gross realisations of the whole of the wool sold in New Zealand during the seven previous seasons and at the sales to March 31 of the present season are shown ill the following

LONDON MAY" SERIES. PROSPECTS FAVOURABLE. The Bank of New Zealand (produce department) is advised by its London office, under date April 24, that prospects for all wools at the next series of sales, commencing on May 5, are favourable. The market is expected to show very little change.

table:— Season. 1928-29 . £ .. 11.877,305 1929-30 . .. 4.906.453 1930-31 . 3,403.528 1931-32 . .. 3.516,361 1932-33 . .. 4.204.430 1933-34 . .. 10.451,565 1934-35 . .. 4,486.480 1935-36 (to Mar. 31) .. 8,869,701 The following table compares the average prices per bale and per pound worked out over the Dominion sales for the last twelve seasons:— Per bale. Per lb Season. £ s a d 1924-25 .. 29 15 6 20.20 1925-26 .. 17 1 8 11.93 1926-27 .. 18 3 1 12.66 1927-28 .. 24 5 0 16.89 1928-29 .. 21 8 9 14.99 ’ 1929-30 .. 12 2 2 8.59 1930-31 .. 7 19 8 5.66 1931-32 .. 7 10 9 5.27 1932-33 .. 7 10 6 5.18 1933-34 .. 16 5 5 11.127 1934-35 .. 9 7 0 6.54 1935-36 .. 13 9 : 10 9.248