SOUTH AFRICAN WOOL PRICES

Southland Times, Issue 24113, 30 April 1940, Page 6

SOUTH AFRICAN WOOL PRICES

(United Press Association)

WELLINGTON, April 29.

A Press Association message published in the Press on April 24 stated: “At the South African wool sales 64’s averaged 33|d per lb. Competition was very keen, with England and France the principal buyers." The Minister of Marketing (the Hon. W. Nash) has received the following cable message from the High Commissioner in London (Mr W. J. Jordan) in reply to his inquiry about the above statement: “The South African price was on a clean basis, not greasy. The average price realized for greasy this season to the end of March was ll§d and the average for the month of March was I am informed that 64’s yield 45 to 55 per cent.” The Minister stated that these prices were quoted in sterling and the equivalent in New Zealand currency would be from 14£d to 14,?d. As the bulk of the South African wool was fine Merino (94 per cent. as. against 5 per cent, in New Zealand) the New Zealand overall price of 12qd per lb for mainly crossbred wool compared very favourably with the South African realizations on an open market in which all countries were competing.