WOOL PAYMENTS FOR SEASON

Southland Times, Issue 24754, 27 May 1942, Page 5

WOOL PAYMENTS FOR SEASON

Less Offered At Invercargill

The realizations from the wool appraisals held in Invercargill during the season just closed totalled £1,181,293/19/10, which was £27,125/9/4 less than in the previous season, when 1618 more bales were offered. An indication that Southland wools are of good average quality is provided by the fact that the average return for wool valued in Invercargill was within a very small fraction of the Dominion average of 12’d fixed at the beginning of the war. At the fifth appraisal of the season, held on May 6, 4711 bales were bought by the Government for £26,843/11/2. The total number of bales sold during the season was 72,047 compared with 73,665 bales in the previous season. For this year’s, wool the total value was £1,181,293/19/10 compared with £l,208,419/9/2 in the previous season. Under the appraisal system the quantity of wool handled at Invercargill has increased very considerably compared with the open sales. Before the war, a considerable proportion of the wool from Eastern Southland was sent to Dunedin for sale, particularly in the early part of the seasons. Practically all this wool is now handled at Invercargill. Before the war the total quantity of wool sold at Invercargill seldom exceeded 50,000 bales, but in the last two seasons it has been more than 70,000 bales.