WOOL CHEQUE

New Zealand Herald, Volume LXXV, Issue 23009, 9 April 1938, Page 14

WOOL CHEQUE

AUCKLAND PAYMENTS £460,000 AT LAST SALE TOTAL OVER £1,050,000 CLEARANCE 97 PER CENT * Although the high prices received for wool last season make this season s returns seem small in comparison, growers are well satisfied with the amount of over £1,050,000 distributed from the three Auckland auctions in the current season. Cheques for the third sale held on March 26 will be distributed to-day, the prompt date, and, although brokers have not yet completed their returns, ifc is estimated that,the.amount realised will be in the vicinity of £460,000. On these figures, the return for the three sales this season will be about £470,000 below that of last season, when the cheque for the Dominion established a record. The current season's Auckland distribution is the second largest since 1927-28. Steady Improvement

The season opened • with low prices, but there was a steady improvementtoward the dose. Growers who held back their dip until the final sale Benefited from higher prices than thoso which were accepted at earlier fixtuies. The price a bale for the third sale will average over £l4 10s on a conservative estimate. A clearance of about 97 per cent was made of the unusually large offering of 32.668 bales, either under the hammer or by subsequent negotiation. The average price a bale at the March sale last year was £2l 7s, an almost total clearance of a comparatively small catalogue of 22,203 bales being made. An encouraging feature for the coming season is that there should be only a small carry-over.

The figures for the three sales in Auckland during the past two seasons compare as follows: —

1030-37 1937-38 November .. £439,270 £"201,700 January 613,852 307,26March .. 475,123 400,000 (est.) Totals .. X" 1,0-8,515 £ 1,058,962 Seasons Compared The totals realised at Auckland in the past ten seasons are as follows: — Season Total amount 19-JB--J9 .. .. £l,O-2-1,082 lt)'_'9-30 .. .. 498,717 1930-31 .. .. 323,800 1931-32 .. .. 310,803 1932-33 .. .. 311,887 3933-34 .. .. 934,303 1934-35 .. .. 341,030 1335-36 .. .. 935,621 1936-37 .. .. 1,528,545 1937-38 (estim.) '.. 1,058,062

The New Zealand selling season is now drawing to a close. After the .Christchurch auction yesterday, fixtures in Dunedin on Tuesday and Wellington on April 22 will complete the season. No limit has been fixed by the New Zealand Wool Committee for either of these sales. •