NEXT AUSTRALIAN WOOL CLIP

Timaru Herald, Volume CXLVI, Issue 21379, 23 June 1939, Page 16

NEXT AUSTRALIAN WOOL CLIP

OVER 3,000,000 BALES FORECAST The Australian wool clip for the 1939-40 season is expected to be 3,096,500 bales, consisting of 82 per cent Merino and 18 per cent crossbred, according to an announcement made at the annual joint conference of the National Council of Wool Selling Brokers of Australia and the Australian Woolgrowers’ Council in Sydney recently. Of this total production it was estimated that 2,815.000 bales would be received through the brokers’ stores for offering in the Commonwealth, with an estimated average weight per bale of 3001 b. It was agreed that the quantity of wool to be offered before Christmas should not exceed 1,450.000 bales. It was estimated that the carry-over at June 30 would be approximately 60,000 bales, as compared with 238,000 bales at June 30 last year. The selling season is to be opened in Sydney on August 28. COLOMBO TEA AUCTION By Telegraph—Press Association DUNEDIN, June 21. Mr L. M. Wright has received the following cabled report on the Colombo tea auction:—At yesterday's auction of 2,750,0001 b all grades were keenly competed for. Common and fine teas remained firm but for medium grades prices advanced about id to id. The quality of the offerings showed a decided improvement. Next week 2,500,0001 b is catalogued for sale.

TOTANGI BORE

By Telegraph—Press Association

GISBORNE, June 22.

The New Zealand Petroleum Company. advises that operations at the Totangi bore have been suspended during the last few days while a nine-inch casing was being rim in. This is now cemented in position at a depth of 4310 ft, and drilling is to be resumed to-day. When drilling was suspended last week the bore had reached a depth of 4465 ft.

PRICE OF POTATOES By Telegraph—Press Association CHRISTCHURCH, June 22. Potato prices have advanced again this week. Quotations are £ll a ton on trucks for prompt, and £l2 a ton on trucks for July delivery. The North Island demand is exceptionally keen and merchants are finding difficulty in obtaining sufficient supplies. Onions are still quoted at a nominal £l6 a ton, but little business is passing at the present time. The grain and seed markets are quiet, and there is no variation in the prices prevailing during recent weeks.