AUCKLAND'S GREAT SALE

Auckland Star, Volume LX, Issue 45, 22 February 1929, Page 11

AUCKLAND'S GREAT SALE

RECORD WOOL OFFERING.

CATALOGUES, 28,214 BALES

PRICE PROSPECTS

To-morrow evening at 7,30 Auckland wool brokers will commence in the Town Hall Concert Chamber the largest offering of wool ever submitted at any one sale in this city. Since approximate figures were published on Tuesday there have been slight alterations and the final returns show the catalogues a? follow, together with the order in which the selling will proceed:— Dalget.v anil Co.. Ltd., and North Auckland Farmers' Co-op., Ltd 9 421 Abraham and Williams, Ltd .. 4'o:i7 Alfred Buck-land and Sons. Ltd. .. ll'olo tanners' Co-op. Auctioneering Co., . . . , . - 00l Loan and Mercantile Agency Co" ■L lll - Total 28,214 The tone of the wool market has definitely weakened since last pale held in November, and growers will almost certainly be faced with a drop of anywheie from 14d to 2Ad per lb. The nearest guide to the market prospects can be gained from the Wellington sale held earlier in the week. Commenting oil the results there Messrs. Dalgety and Co. reported as follows: —

"The position at present appears to be that mill owners are finding it difficult to reduce stocks of tops as spinners are only buying from hand to mouth and overseas orders are few and far between. Until a healthier tone permeates the top market, top makers are naturally averse to piling up stocks with no chance of reducing same in the near future. With the depreciated values now ruling, spinners may reasonably hope to secure sux>plies at lover rates, and this may help to stimulate business and bring in satisfactory orders for tops. Bradford aie certainly now taking a good weight of our erossbreds at the lower range, bi.t unfortunately at the moment German and other Continental buyers appear to have had their orders greatly reduce , and their purchases are now on a much smaller scale. France is buying sparingly, and Japan is also on shorter rations.

"During the next round of sales to be held at Auckland, Wanganui ard Napier, 84,000 bales of principally medium erossbreds will be offered within ten days, and this, on a weakening market is a large quantity to absorb in sucli short time. A heavy offering is also in sight for the March rounds." Since this was written a cablcgiani has been received from Bradford indicating a more cheerful tone in the maiket there.