SEASON’S WOOL CHEQUE

Taranaki Daily News, 23 March 1935, Page 24 (Supplement)

SEASON’S WOOL CHEQUE

A REDUCTION PREDICTED OFFICIAL FORECAST £5,800,000 A substantial decline, amounting to approximately £5,800,000, is forecast by the Government’s Statistician on the total value of the current season’s estimated wool production, compared with that for the year 1933-34. Prices at the opening sale of this season showed a very marked decline as compared with the prices realised during the 1933-34 season, he states, and, although a firming tendency was evident at later sales, it seems quite clear that the average price for the season will be about 40 per cent, below last season’s prices. The average price realised at the 16. sales held to the end of February was approximately 6|d per lb, compared with an average ,of 11.07 d at the 1933-34 sales. The total production of wool for 1934-35 is estimated at approximately 292,000,0001 b in the grease, last season’s actual production being 300,500,0001 b. Assuming the average price for the whole of the current season to be 6£d per lb. (it will perhaps be a little higher than this), the total value of the current season’s estimated production would be in tiie neighbourhood of £8,000,000, compared with £13,800,000 last season; nevertheless, the value of the 1934-35 production will be materially in advance of the value for the seasons immediately preceding 1933-34, the value of production of wool at the average prices realised at sales held during these seasons being:— 1930-31, £6,400,000; 1931-32, £6,200,000; and 1932-33, £6,200,000. In making this computation no allowance has been made for stocks held over from one season to another, the figures shown being the .value of each season’s total production at the average prices realised for wool actually sold during the season.