THE WOOL MARKET

Ashburton Guardian, Volume 56, Issue 80, 16 January 1936, Page 6

THE WOOL MARKET

FIRST SALE AT WANGANUI.

VERY ANIMATED BIDDING.

PRICES FIRM ON WELLINGTON. (Per Press Association.) WANGANUI, This Day. The first wool sale at Wanganui was largely attended." A total of 30,000 bales was offered to a large bench of buyers, the selection being an average one of good to medium top-making breds, with plenty of quality showing through many lots. Owing to the late shearing, seed is rather prevalent and some good styles of wool were spoilt by faulty get-up and neglect of .skirting. Bidding was extremely animated, with buying well spread. Both English and German buyers were well in the market and purchased freely. The offering was very suitable for Continental purposes, many clips being fine and of carding length. France, Germany and Belgium were all keen bidders for fine carding sorts, with Bradford operating widely on the average of good top-making qualities. Japan was well in the market for wools suitable for her trade. American bidding was restricted, probably owing to the selection being too fine for her requirements. Growers met the market well. Compared with the rates at the recent Wellington and Napier sales, prices were firm and unchanged, except for finer good carding wools, which were selling in growers' favour. All classes of skirtings sold well up to late rates. Prices were:— Halfbred hoggets—l3Jd. Romney Crossbred—lid to 12|d. Lambs—lid to 12d.

THE LONDON SALES.

ACTIVE COMPETITION RULES

(United Press Association—Copyright.) (Received This Day, 11.30 a.m.) LONDON, January 15.

At the wool sales 7911 bales were offered, including 1038 New Zealand, and 6721 Australian and New Zealand were sold. There was a good selection consisting chiefly of Australian merinos, and active competition at firm rates, but withdrawals were fairly frequent among greasies. The Home trade and the Continent were the chief buy-

New Zealand greasy crossbred, Kaiaua, sold up to ll|d, with an average of 9|d. Dawson and Sons, commenting on the wool sales, say that not a single country is outstanding in the bidding. The offering is freely taken by all sections, a feature being the strong demand for crossbreds. Statistically the position is extraordinarily sound. Raw material occupies an almost unpreccdentedly strong position and the advance is justified by consumption overtaking supplies.

The Bank of Australasia has received the following cablegram, dated London, January 14, from Messrs Balme and Thomas', woolbrokers: — "London-Colonial wool sales: Merino .5 per cent, dearer, fine crossbred 10 per' cent, dearer, medium crossbred, coarse crossbred 5 per cent, dearer, scoured crossbred 5 to 10 per cent, dearer, compared v\ ith closing rates ot last series."