WOOL SALE TODAY

Dominion, Volume 32, Issue 54, 26 November 1938, Page 12

WOOL SALE TODAY

First Of The 1938-39 Season AUCKLAND PROSPECTS Prices Not Expected To Fall Dominion Special. Service. AUCKLAND, November 25. The interest of wool-growers throughout New Zealand will be centred on the first sale of the 1938-39 selling season which will begin in the Auckland Town Hall tomorrow, when 24.181 bales will lie offered. After the first few catalogues have come under the hammer, growers will be given some indication of tlie new standard of values which is set every year for the Dominion clip by the first Auckland sale. No accurate predictions can be made as to the likely range of values, hut the chairman of the Auckland Woolbrokers’ Association has expressed the opinion that prices will be better than or at least as good as the opening Auckland sale last year. The bulk of the catalogue is hogget and dry sheep and with crossbred of different counts is a typical first Auckland sale. The clips from North Auckland and Waiheke are clean and of good staple. The King Country clips generally are clean and bright, but not so heavy because of the absence of yoke. The effects of the facial eczema outbreak are seen in the Waikato wool, most of which is dry, hard and light. Special classes have been arranged to provide for the affected clips. Buyers have arrived in full force and represent all the important purchasing countries. Though the presence of buyers does not necessarily mean that they will operate, competition is expected to be fairly widespread. Most of the support will probably come from the Continent. Bradford should be another mainstay to the market, with the New Zealand mills operating for suitable lines. It is generally admitted that the success or failure of the sale will depend to a large extent on the parts taken by America and Japan. 'Both countries held off last season and their added competition would be of Inestimable benefit, to growers.

The war in China aud the resultant restriction in Japanese credits are scarcely conducive to spirited bidding from the representatives of that country, though Japan has been operating reasonably well in the Sydney auctions. Japan must remain the enigma o’f the market. It was through her competition mainly that values reached almost boom levels in 1936-37 and her lack of bidding last season was largely responsible for the reduced values.

Among the buyers at tomorrow’s sale will be Mr. Herbert Hill, Christchurch, president of the New Zealand 800 l Buyers’ Association, who returned by the Mariposa today from Britain, the Continent,'and the United States. He told an Interviewer that though slightly out of touch with conditions since he began his homeward journey, be considered the prospects for the Dominion clip this season promising. He thought there was little likelihood of any extreme advances, but expected values to approximate those of last season. He said that there was no notable reaction in Britain and other countries to the armament programmes respecting the demand for wool