COMING WOOL SEASON

Wanganui Chronicle, Volume 71, Issue 260, 2 November 1928, Page 9

COMING WOOL SEASON

MORE PRODUCTION BUT LOWER PRICES • jjcdal "Qi romcle” Service 1 WELLINGTON, Nov. 1. An increase in the total wool dip, but a more than compensating decrease in prices is forecasted by a Dominion known expert acting for one of the largest firms of stock and station agents in the country. “There is no doubt that the prices paid this year will be on tt lower level,” said the expert. 4 ’The New Zealand average for last season was 16.67 d per lb. Wo expect the opening prices to be about those paid at the December sales for crossbreds, but merinos will be considerably lower. A great deal depends upon Ameridan and Continental competition. These will affect our super-Romneys considerably. “On a parity basis merinos will show the biggest drop since last year. They sold as well in the early sales as the end of the season, whereas crossbreds appreciated in price throughout the selling period. “On the other hand the crop will be heavier —we estimate by from 5000 to 8000 bales. The average per bale last season was 3441b5, which was one lb. below the average two years ago. After the good winter we shall more than make up that pound. “At the same time this increase will not compensate or the lower prices which may bo expected. The total production last season, including slipes and scours, was 665,000 bales. In order to atone for the drop in price our pro duction this year should be up at least 20,000 bales. “From December to March this season, we hope to stabilise prices and the grower should got a return of from 15d to 154 d per lb.”