OPTIMISM FOR WOOL SALE

Press, Volume CIX, Issue 31881, 8 January 1969, Page 20

OPTIMISM FOR WOOL SALE

(New Zealand Press Association)

WELLINGTON, January 7.

With the bulk of the season’s wool clip on to, the market in the next few months, wool men in Wellington are hoping for an improvement at the Wellington wool sale tomorrow.

Tomorrow’s auction will be the first since the last day of the two-day Auckland sale on December 20. As the first of the New Year sales, it traditionally receives greater attention than other auctions from observers looking for indications of the likely trend during the remainder of the season. The trade is a little more optimistic than at this time last year, particularly in view of better competition evident at the closing sales of 1968. The manager of the Wool Commission (Mr H. L. M. Peirse) said nothing had changed since the last Auckland sale. He said prices tomorrow should be firm on Auckland’s

closing rates for the predominant second-shear lines.

The Wellington Woolbrokers’ Association reports that 28,800 bales will be offered tomorrow. The offering is of mainly mature ewe wool, with a small proportion of hogget and lamb’s wool. In the New Year sale schedule, the earlier hogget clip is replaced by mature sheep lines.

Some of the clip is said to be a little short in length, but it is an offering of average quality for this time of the year.