BRIGHT PROSPECTS

Auckland Star, Volume LXIV, Issue 290, 8 December 1933, Page 5

BRIGHT PROSPECTS

LATER WOOL SALES.

FORECAST FOf* CANTERBURY.

DOUBLING OF 1932 PRICES.

(By Telegraph.—Special to " Star.") WELLINGTON, this day.

Following yesterday's wool sale, competent observers have formed the opinion that prices at the first Christchurch sale will be along the following lines:— Half-bred from the plains, 16Jd to 17d.

Better class wools, 19d to 20d—and a few superior lots will probably reach 23d.

The determination of the local mills in the past to purchase New Zealand's beat at any price will no doubt be repeated, and where exceptional lots are offered it is possible that 23d, the highest price reached at the Wellington sale, may be exceeded. Spread over the whole of the forthcoming Christchurch sale, the increase in price on the first sale last season, is expected to be in the vicinity of 100 per cent. Yesterday's sale saw Tittle that was spectacular, but, on the other hand, although buyers were not so keen late in the afternoon, there was apparently a determination to buy all but a negligible quantity of the Sellers mainly did not impose prohibitive reserves; indeed, there were many lots without reserves at all, and in most ca«es valuations were slightly exceeded. There was a hardening tendency in the early phases of the sale. British Buyers' Limits. A fair amount of the offerings went to Bradford, but the British buyers obviously were under limits which did not possess the elasticity at the command of French and German buyers. The very best classes of wool were keenly sought by Canadians, while the Japanese concentrated on wools, and local mills insisted on taking the best of the half-bred and Merino clips.

With a larger and better selection of fine wools at Christchurch, it would appear that prospects are bright, and the fact that buyers there will represent more countries than were represented yesterday enhances these prospects. While Christchurch catalogues consist mainly of fine wools, for which there should be more general competition, yet the crossbred and coarser wools offered at Wellington were unquestionably brighter and cleaner than Canterbury clips of these qualities. One of the largest Canterbury wool producers last night expressed the opinion that Canterbury growers would be well advised to take the good prices which will be offered next week, as they are large enough to give a profitable return on this year's operations. One of the remarkable features of the sale was the high prices paid for necks, bellies, pieces and crutchings. In several cases these brought higher prices than fleeces, owing to Australian buyers [competing strongly for these lots.