The Wool Market

Cromwell Argus, Volume LXIV, Issue 3342, 26 November 1934, Page 5

The Wool Market

1 his week the chief concern of woolgrowers will be the result of the first or tiie Dominion sales, to be held in Auckland to-morrow, 27th November. A month ago slightly improving prices in Australia gave a hopeful tone, but unfortunately these were not maintained at last week’s sales.

A Wellmgton message early last week stated that there were indications that many wool-growers are Holding off from the December sales, with the idea of offering their clip in January. The result is likely to be that the allotment of 25,000 bales for December may not be filled, and that more will be offering m January than can bp accommodated. With fine weather in that province shearing has proceeded without interruption and flip wool is pouring into store.

At the Melbourne sales 011 Tuesday, Japanese were the chief operators for a fair selection offered. Compared with last sales prices were 5 to 7) per cent lower. Merino sold to 143 d, and comeback i4)d.

At Brisbane the market generally was firm on the rates ruling in Sydney the week previously. At the London sales on Tuesday there was a good selection of merinos and crossbreds, a large attendance, and, as described by the cables animated home and foreign ‘ competi*fmn. Compared with October closing rates merinos declined five per cenf. Crossbreds were unchanged. At thp London sales on Thursday, competition was keen, lull opening rates being maintained. At Melbourne, on Friday, the market was very firm, extra super merino realising irSd. The Brisbane sale the same day dosed with fleece wool showing a hardening tendency, under keen competition, Creasy sold to i6d ( and scoured to 25i?d.