OTAGO WOOL

Timaru Herald, Volume CXLVIII, Issue 21573, 8 February 1940, Page 6

OTAGO WOOL

Return From Second Valuation

Growers Receive £366,227

By Telegraph—Press Association DUNEDIN, February 7.

“Prompt day” in connection with the second wool appraisement of the season in Dunedin, which was concluded on January 23, fell to-day and returns of sales and prices in the various catalogues show that a total of £366,227/1/9 was distributed among wool glowers as the gross proceeds of the valuation. This is slightly in excess of the gross return from the second auction of the 1938-39 season in February last, which was £355,040/1/10. The improvement in the general range of wool values this year is illustrated by the fact that 6000 fewer bales this year fetched over £lO,OOO more than was the case last season.

The average returns per pound and per bale at the second appraisement were higher than in December, due to the fact that the latter offering comprised a higher proportion of fieece wools. In the December catalogues also there was a considerable quantity of straggler wool, crutchings and oddments which had the effect of lowering the general average over the offering. The figures for the second appraisement were as follows: Bales appraised 21,129 Gross proceeds £366.227 1 9 Average price a bale .. £l7 6 8 Average price per lb .. 12.7 d

At the second sale of the 1938-39 season in February last, the corresponding figures were:

Bales sold 27.081 Gross proceeds £355,040 1 10 Average price a bale .. £l3 22 Average price per lb .. 6.7 d