NEW ZEALAND WOOL.

New Zealand Herald, Volume LXI, Issue 18703, 8 May 1924, Page 10

NEW ZEALAND WOOL.

•.v:; : 7Nv •• •? •'• Vi" - •• \ : LOCAL SALES CONCLUDED. ANALYSIS OF, THE SERIES. ; LONDON MARKET OPENING PROSPECTS OF HIGH PRICES r t • [DX TELEGRAPH. —-PRESS ASSOCIATION.] ' -WELLINGTON, Wednesday. The New Zealand wool sales have closed and the London May sales are opening. Prices have been, and appear likely to bs, high. The demand for wool of every description ,is keen, and from all statistical indications is likely to be so until production catches up with consumption. . • -

r:. The consumption of wool in the United Kingdom, United. States, France, Belgium, Japan and Italy for 1022 was 2,290,000,0001b., a? compared with 1,586,600,0001b. for 1912. All these countries showed substantial individual increases. Germany, however, during 1612 took 525,000,0001b., whereas its consumption for 1922 war. 425.000,0001b. Production is short, although the flocks of New Zealand at the last tally showed an increase of roughly 800,000 as compared with : the previous count.

„ The sales in the Dominion during the ten months ended April 30, as compiled by Messrs. Dalgety and Co., show , an increase over those for the period July 1, to April 30, 1823, as will be seen in the following table:

* 10 months, '24. 10 months,' 23. Bales Bales Bales Baloa offered, sold. offered, sold. "Wellington 122,167 118,027. 113, 98,274 Napier . . 97,261 95,388 83.631 78,111 Christchurch 70,037 69,899 08,372 65,178 "Wantranui . 61.353 59,448 53,146 44.778 Dnnedirt . 57,911 57.911 65,750 63.255 Auckland .. SS.Gfo 37.937 40,034 86.612 Tixnaru . . 31,099 80,857 31,220 29,50? InvorcMffill 22.434 22.037 24.070 22,400 Giobori® . . 3,324 2,824 8,190 8.190 Blenheim . » 354 , 311 349 328

Totals .. 503,666 494,139 491,289 445.633 The wool sold in New Zealand irora • November 1 to March 31, -was 479,695 bales. The price averaged £23 6s lid per baTe, or 16a per lb. The quantities sold in the North Island were 303,541 bales and in the South Island 176,154 bales. - The prices realised in each island were: North Island, 14£ d per.lb. (£22 0s 5d per baU); South Island, 18Ad per lb (£25 12s 7d per bale). i The value of the clip sold in New Zealand was £11,198,879. "This was distributed to growers, less brokerage and other charges, in cash over a period of six months. -

The position of Wellington as the leading troel market in the above table speaks { for itself, but the highest prices for fine ■wools usually go into Canterbury, Otago and Southland sales. The Wellington sales last year amounted to 109,348 bales. There were .88,879 bales for 1921-1922, the year of the slump, and 48,135 bales the year when the Imperial purchase ended. - The average price of | Tew Zealand wool went down to £9 per bale in 1921-1922, but many farmers held their wool rather than Sacrifice it at that

• figure. Messrs. Dalgety and Co, give the averages of ' the New Zealand . wool • sold : locally over a period of years as follows: 1912-13, £14 0s Id per bale; 1913-1914, i £1217s 4 1914-1015, £15 Is Id: 1920-1921, ,£ll 17s 7d; 1921-1922, £9; 1922-1923, £16 32s 7d.

-During 1915-1916 to 1919-1920, inclusive, the wool was purchased by the Imperial [Government and it realised the following average nrices in order of time: —£2l lid, £22*2s £22 16s 2d, £23 10s, -£23 9s lOd. . . ...

The advantage of local sales, it .is i pointed out, is quick realisation. Whether it, is better to sell in London or sell .in the salerooms of the Dominions is for the grower to decide. Last season 422,419 bales were sold locally. / - The greasy wool production is in the vicinity of 540,000 to 550,000 bales per annum. ■ V - . '