THE WOOL MARKET
TREND OF THE VALUES AVERAGES AT NAPIER SALES The amount released among Gisborne wool growers as a result of wool sold at Napier this season will not approximate much more than £IOO,OOO, as compared with a little over £.".(10,000 for similar wool last season. The drop in values has not. been wholly responsible for so Jarge a decrease in these realisations, for this season only about 10,000 bales of Gisborne wool were offered as against 17,000 bales for the previous selling period, and the percentage sold this year was less than last. The value of the wool sold at Napier during the current season would not be much more than £700,000, against over £2,000,000 the previous season, a reduction in the offering by about 27,000 bales being in part, responsible for so big a drop. It may be pointed out that the unsold wool is being held by those who can afford to adopt this action; .those, not .in a position to do so took precautions to havo their wool disposed of during the season.
The average; price for wool sold in New Zealand up to (he end of February last was 9.249(1 per lb, against an •average of 15.44 d. per lb. for the corresponding period tin 1 previous season, while the average realisations per bale were £l3 0s 2.07 d. and £22 Is. 4.5 d. respectively. The season at Napier commenced with averages of 11.4 d per lb. and £lO 17s Sd per bale, which were substantial enough reductions from 16.16 d per lb and £24 Js 7d per bale for the November sale of (he previous season. Both last season and this season tthe prices showed a gradual decline, the averages at the last. Napier sale last season being 12.50 d per lb, and £lO 2s Id per bale. The reduction from these values at the first of this season's series was not very great, but with a sure downward tendency the averages at the last Napier auction must be down to nearly half of what they were at the close of last season, but the actual figures from last month's sales are not vet obtainable.
The Dominion average for the o.'M.SOO bales of wool sold during the whole of last season was 14.00(1 per lb. and £2l Ss 0.05(1. per bale.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PBH19300405.2.119.6
Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17227, 5 April 1930, Page 11
Word Count
388THE WOOL MARKET Poverty Bay Herald, Volume LV, Issue 17227, 5 April 1930, Page 11
Using This Item
The Gisborne Herald Company is the copyright owner for the Poverty Bay Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.