STOCKPILED WOOL SELLS WELL

Press, Volume CVIII, Issue 31754, 10 August 1968, Page 40

STOCKPILED WOOL SELLS WELL

(New Zealand Press Association)

AUCKLAND, August 9.

Stockpiled wool met a good and widespread demand at the Auckland winter sale today. The Wool Commission released 2925 bales, most of which it had obtained in April, 1967, and nearly all of it was sold.

The sale of this wool did not appear to influence in any way the rising trend in prices of the new season’s clip.

Over-all the commission lost a few cents a pound on the deal, but on a few lots a slight profit was made. Detailed figures had not been worked out today. Mr H. L. M. Peirse. manager of the Wool Commission, came from Wellington for the sale.

He said the release of the wool fulfilled a need: and as

a first experience of selling stockpiled wool in quantity, it went off extremely well. The wool had sold at a satisfactory rate compared with the new season’s wool, but it had to be realised that the quantity sold was only a small

fraction of the total stockpile, t he said. The next offering of com- - mission wool will be 5000 i bales at the first main Christt church sale on October 7. At > the Auckland sale on October 1 11, 8000 bales will be offered.