WOOL IMPROVEMENT

Poverty Bay Herald, Volume LV, Issue 17181, 11 February 1930, Page 6

WOOL IMPROVEMENT

EFFECT ON CROSSBREDS POVERTY BAY’S POSITION The improved tune of the wool market and the slight advances for some types of fleece is encouraging, but it has yet to be proved that- file Poverty Bay Hockowner will receive more for his crossbred wool than at the January sale in Napier. So far there has been little change, if any, in medium crossbreds of the type grown on most of the Poverty Bay stations, and although a halfpenny rise is reported from Timaru ovet file Dunedin sale a ftew days before, this cannot be taken as a satisfactory basis for comparison, for the southern wools are finer than those grown in the North Island, and 4t is no indication that, on the present rates, the stronger medium crossbreds from Poverty Bay will sell any better than they did in January. Most of the improvement to date has been in respect of the finer wools, which suffered most when the decline took place. That the coarser sorts have not yet participated to any extent in the slight "recently can be regarded in the light of the market adjusting itself to the normal difference in the values of the finer and coarser wools. The improvement in the finer wools and the practically stationary state of the coarser sorts was noted at the last series of London wool sales, which opened on January 16 and closed last Thursday. The stale of the tops market during that time illustrates the trend of the various types of wool on the market, as indicated in the following table:—

Taking average prices from the London sales for New Zealand wool in grease quoted by one of the brokerage firms in Gisborne the following variations during the sale are shown:—

if the improvement in the finer wools continues, the coarser sorts are bound to benefit also, but over-optimism is not desirable. The slight upward tendency in November was heralded as the turning point in the market, but it was found the prices had to go lower still. The next North Island sale "is at Wellington on Wednesday, February 19, and events there will be watched with particular interest by Poverty Bay growers as giving some indication of the trend of the market for medium and coarse crossbreds of the type grown here.

Jan. Jan. Jari. Feb. 16. 23. 30. 6. per. lb. per $b. per lb. peylb. (1. d. d. d. Sixty-fours ... 30 271 28 29 Sixties .. 28' 26 26 27 Fifty-sixes ... 23 22 2H 22 Fifties ... 191 19 18A 184 Forty-sixes .. 17* 17 164 16 Forties ... 16* 164 154 154

Opening Closing Kates Rates d. per ib. d. per lb. 60/64’s ... 105 11 56's 11£ 12 50’.s lOf 11 44/46’s (Preparing) 10§ 103 44/46’s (Carding) 101 101