The Press TUESDAY, JANUARY 29, 1935. The Wool Sale

Press, Volume LXXI, Issue 21384, 29 January 1935, Page 10

The Press TUESDAY, JANUARY 29, 1935. The Wool Sale

The second Christchurch wool sale of the season, yesterday, exhibited two main features of interest. The first was the remarkably strong influence of the local mills, which gave the sale more vigour than had quite been expected and which lifted the prices of all super-classes of wool to an average of a halfpenny above December levels. These classes were practically monopolised by the local buyers, to whom the January sale offers the best and most extensive opportunity of the season to satisfy their special requirements in Corriedale and other fine wools. Second, although the distinctly better values for the best grades of wool did not extend to the whole sale, it is true that prices were slightly better all round; but the marginal increases are not in themselves so encouraging as the fact that the buying circle was wider than it has been. France operated more vigorously, as did Japan, while Germany appeared for the first time in the market with any real energy. These buyers were interested in all classes of wool. Bradford's demand was steady, though not so heavy as in December; and in general the full bench maintained competition and prices until towards the end of the sale, when there was a slight easing. Passings ranged from 5 per cent, at first to perhaps 16 per cent, at the close, and averaged about 10 per cent., which is evidence of a satisfactorily free clearance. The total sale, of 22,500 bales, will return about £260,000, with which figures may be compared the December ones of £ 190,000 for 17,100 bales. Of the quality of the catalogue it is necessary to say only that, if the usual high standard of the January sales was not quite reached, this was due entirely to the weather variations of the season. In maintaining the quality of its wide range of fine and super-fine wools the province maintains no small measure of economic security. But even the sellers of the coarser growths, though they are still compelled to accept a very wide margin of difference between their prices and those of the finest grades at 13id to 15Jd, were able to note with pleasure the tendency to a firmer market and an actual advance in some classes.