WOOL FULLY FIRM

Ashburton Guardian, Volume 56, Issue 76, 11 January 1936, Page 6

WOOL FULLY FIRM

SECOND SALE AT NAPIER. AN ADVANCE IN SUPER LAMBS. FRENCH BUYERS FORCE PACE. (Per Press Association.) NAPIER, This Day. . There was well-spread and spirited competition from a bench of 60 buyers seen at the second Napier wool sale this morning, when the offering totalled 30,000 bales. Pvuling. rates for crossbred were fully firm at Wellington levels, and upon the rates ruling at the Napier sale in December, with super lambs wool meeting particularly strong competition, and selling values showing an advance up to one penny per lb on the Wellington levels on Monday. Seedy and inferior lambs wool was from parity to a shade firmer than at Wellington. It was definitely a Continental market, with French buyers forcing the pace in the opening stages, Japan and America operating keenly for suitable types for their requirements. Bradford was decidedly more in the picture this morning than at the December auction. The tone of the market was well maintained throughout the morning, and indications were that the demand was fully strong enough to cope with the large offering.

THE LONDON SALES. PROSPECTS OF AN ADVANCE. (United Press Association—Copyright.) (Received This Day, 9.55 a.m.) LONDON, January 10. Offerings at the London wool sales that open on Tuesday will be the smallest for the January scries- since the war. This indicates the tendency of new wooljto go direct to the consuming centres to meet current requirements. It also tells eloquently of the demand for raw material in recent months. The consumption in Britain, especially of merino, has been extraordinary. France recently started consuming on a fairly big scale. The "Yorkshire Observer" considers the demand will be good at the opening of the sales. It is generally expected that merinos will be at par to five per cent advance, bringing them in line with prices in Australia. Fine medium erossbreds should bo from five to ten per cent dearer, and low erossbreds about the same. Bradford is reported to be well supplied with erossbreds. Germany will possibly be a buyer, though she has just concluded purchases' from the Argentine under barter agreement.

EXTENSION OF SELLING'DESIRED

RESOLUTION AT TIMARU. (Special to the " Guardian.") TIMARIT, This Day. Contending that wool growers and all concerned would be much better off by the change, Mr H. 13. S. Johnstone, at a meeting of the committee of the Timaru Agricultural and Pastoral Association yesterday, advocated an extension of the wool selling season throughout the Dominion. Mr. Johnstone considered that in practically all the sales in New Zealand too much wool was offered at once, and if the season was extended for about two or three months all concerned in the industry would obtain better results. The season started in November with the Auckland sale, at which 25,000 to 30,000 bales were usually sold in the one day. The buyers then proceeded to Wanganui, Napier and Wellington, Christchurch, Timaru, Dunedin and Invercargill, the offering at Timaru being about 10,000 to 12,000 bales. All the sales were pushed through in one day, and he did not thing the buyers or the growers were given a fair chance. Something should be done by those responsible to have the season spread.

Mr Johnstone explained that the last sale on the roster this year was about April 5, and compressing all the dates in between the opening and closing sales made a great rush. If the season was extended to June or July it would relieve the position considerably and the price would probably have a tendency to increase towards the growers. A large percentage of the wool was bought by buyers on overseas commissions. Buyers had their limits cabled and if, instead of selling 30,000 bales in a day the auction was limited to 6000, or 7000 bales, a buyer who had a commission and could not compete for a certain line because of his limit, might be able to cable home and be a competitor the next day at a higher figure.

Mr Johnstone recalled that at the last Timaru sale 12,000 bales were hurriedly sold in the morning to allow the buyers to catch the express the same morning. While he was not complaining about the prices he thought that more time would allow for better prices. He moved that it be a recommendation to tho Wool Brokers' Association that it consider the matter for next season, and that not more than 6000 bales be sold on any one day. The motion was carried, and it was decided to endeavour to enlist the support of the Farmers' Union and the Sheepowners' Union.