FINE WOOLS

Timaru Herald, Volume CXXXVIII, Issue 19959, 17 November 1934, Page 8

FINE WOOLS

GUIDE TO PRICES AT SALES HIGH LEVEL NOT LIKELY Bv Telegraph—Press Association CHRISTCHURCH. November 16. The president of the New Zealand Woolbrokers’ Association. Mr J. Mating, has issued a statement reviewing the Australian market and prospects for the early sales in the Dominion. He states that the latest information from Australia is that to October 31 new season’s wool received into store was approximately 1.660.000 bales, of which 467.000 bales were sold and shipped. For the same period of 1933 tvool received into store was approximately 1,680.000 bales, of which 788.000 bales were sold and shipped. Mr Maling states that it is apparent that the season’s low prices have caused a hold over of more than 300.000 bales, which accumulation will come on to the market during the New Zealand season. After stating that the average prices in fine wool centres in New Zealand are considerably below those in Australia. Mr Maling quotes Australian averages for the new season as follows: July 9.18 d. August 10.14 d. September 8 79d. October 9.48 d. He states that the latest advices from the National Council of the Wool Selling Brokers of Australia are that prices are likely to be stabilised at the October values. Mr Maling adds, “this should provide a guide to growers as to what New Zealand values will be at the commencement of the season for fine wools.”