THE WOOL SEASON

Wanganui Chronicle, Volume LXXXIII, Issue 20109, 30 March 1928, Page 6

THE WOOL SEASON

r J’HE RESULTS of the wool sales that have now' been con-

cluded for this season in New Zealand cannot fail to have been gratifying to the growers. Of all the wool that has been offered it, may be said that it has commanded more than remunerative prices.

Growers have been disposed to meet the market, and have, very fortunately, been content to leave the question of reserves to brokers, who, for their part., have naturally been desirous of taking the tide at the flood. There has been a conspicuous absence of the passing in of lots. It is not surprising, in the light of the extraordinary buoyancy of the market throughout the season, that the final sale was characterised by an all-round increase on the rates that ruled at the February auctions. It may be conservatively estimated that the proceeds of the sales in the Dominion this year will amount to nearly £12,500,000, this being based on the assumption that an average price of £24 per bale was realised.

The total number of bales offered was 517,719 as compared with 505,887 in the 1926-27 season. Of the total. Wanganui provided over 56,000 bales of an aggregate value of about £1,334,700 —a distinctly substantial return for the growers, which, as an effect of the ordinary process of distribution, must have a beneficial effect on general trade conditions in the district.