POSTPONED N.Z. WOOL SALES

Press, Volume LXXXIII, Issue 25085, 17 January 1947, Page 7

POSTPONED N.Z. WOOL SALES

LONDON OFFERING BY JOINT ORGANISATION “ WILL PARTLY FILL GAP ” (Special Correspondent N.Z.PA.) LONDON, January 15. As a result of the postponement of the January wool sales at Auckland, Wanganui, and Napier, because of dock congestion and shipping difficulties, the Joint Organisation is making a substantial offering of New Zealand wool at the London wool sales in February to meet the requirements of British and Continental firms. Offerings for the Londofi sales, which begin on February 3, are about 100,000 bales, including 16,000 bales of New Zealand greasy crossbred yarding, 10,000 bales of New Zealand slipes, and useful quantities of New Zealand greasy and scoured crossbred clothing wools. These will partly fill the gap caused by shipping delays, though the London offerings of New Zealand wool are probably not more than one-third of the volume of the wool originally catalogued for the three postponed sales.

At the same time there is a limit to the amount of wool which'can usefully be auctioned in primary markets u shipping does not keep reasonable pace With the sales. Stocks of New Zealand wool held by the trade here are understood to be adequate for the time being, but comparatively little wool has been shipped from New Zealand since the new season opened .in November. The trade appreciates the action, of the Joint Organisation in regulating its London sale offerings at short notice.