CHRISTCHURCH WOOL SALE

Dominion, Volume 21, Issue 83, 6 January 1928, Page 12

CHRISTCHURCH WOOL SALE

* ADVANCE ON PREVIOUS LOCAL PRICES BY Telegraph.— Press Association. Christchurch, January 5. The second wool sale of the current season commenced to-night, when 8750 bales were sold. The sale will conclude 80-morrow. The catalogue comprises •27,060 bales, and was not up to the usual standard of a January offering, due to the broken season. A good deal of the wool opened up unattractively, lacking in brightness, whilst more than the usual percentage was tender. The opening of the sale indicated that a more buoyant market would be experienced than in November. From the outset bidding was decidedly more spirited, and came from a wider section of buyers. Bradford houses were more in the picture, but continental representatives again secured the heavier end of the catalogue. Local mills bought sparingly, and purchases _ on American account appeared to be limited. Foreign representatives set the price for scouring wools that the local fellmongers cannot participate in, and little of the catalogue went to them. Values generally showed a hardening on recent southern sales and an advance on the Christchurch November rates. Medium 50-56 wools were from a halfpenny to a penny better than in November, and super about a halfpenny. The previous high rates for operating for pieces were fully maintained, with no more than a fractional advance. The bulk of the halfbred and Corriedale wool averaged from 20|d. to 22|d., the latter price being frequently exceeded. Merino averaged from 20d. to 23d., and fine crossbred, as far as catalogue descri piton can be followed, from 16d. to 18d. The excellent atmosphere pervading the sale mav be judged from the fact that in the first catalogue of 6300 bales only 20 were passed. Top price of the evening was 26d. for a Corriedale lot, a number of cases of 25d. being recorded for both halfbred and Corriedale.