THIS WEEK’S WOOL SALES.

Otago Daily Times, Issue 20323, 3 February 1928, Page 7

THIS WEEK’S WOOL SALES.

EFFECT OF HIGH VALUES. STABILISED PRICES PREFERABLE. A leading wool broker in Dunedin, interviewed yesterday, made the following remarks in respect to the recent sales: “ Growers w'ho have been spoken to since the sales are extremely satisfied with the exceptionally high prices paid for all classes of wool. It may ne stated that these prices exceeded all expectations, and as a matter of fact values are now approaching the dangerous level, and in the interests of all concerned it is considered that it would be much better if prices were really on a slightly lower level, but at the same time at stabilised rates. It has been proved in the past that after a run of high values there is a reaction which is not in the best interests of sheep farmers generally. Both brokers and farmers would sooner see a steady market at good, payable prices than high prices for one season, to be followed by a drop later. When prices are stabilised It steadies sheep values and also the values of sheep properties generally. At the same time it is the genera! opinion that wool values will be fairly steady at today’s prices for some time.”