WOOL SOLD AT CHRISTCHURCH

Southland Times, Issue 24055, 20 February 1940, Page 4

WOOL SOLD AT CHRISTCHURCH

HIGHER RETURN THAN LAST SEASON DISTRIBUTION OF £361,769 ON FRIDAY (United Press Association) CHRISTCHURCH, February 19. On Friday of this week, which is prompt date for the third Christchurch appraisement of wool under the British Government’s war-time purchase plan, the sum of £361,769 will be distributed among growers .whose wool was sold at this appraisement. The offering at the appraisement which concluded on February 9 was 21,066 bales, made up of 20,837 bales of greasy wool and 229 bales of scoured. The average price per lb was 12.516 d for greasy and 20.145 d for scoured, and overall 12.578 d. The averages a bale were £l7/2/9 for greasy and £2O/9/61 for scoured, and overall £l7/3/5.

Because of the lightness of the clip this season there has been considerable speculation about the ultimate outcome of the appraisements, but with the figures now available it is clear that although less wool will be offered at this centre the net return will be considerably higher than last season. The total wool sold at the four main Christchurch sales in 1938-39 was 99,209 bales and the total cheque was £1,255,095. This season because of Marlborough wool being appraised in Bienheim and a reduction in clip which is estimated at 10 to 15 per cent., the number of bales to be offered will be considerably less. To date the total quantity of wool sold is 66,625 bales, which have realized £1,134,087, and assuming that there are another 15,000 bales still to be offered and that they average the same as the wool sold at the previous sales the sum yet to be added to this season’s cheque would amount to £255,000. This would give a total net realization for the four main appraisements of £1,389,087 on the realization of 81,625 bales, compared with £1,255,095 for 99,209 bales in the previous season. The next appraisement in Christchurch will begin on March 11.