THE GREAT QUESTION

Evening Post, Volume CVIII, Issue 117, 13 November 1929, Page 14

THE GREAT QUESTION

Approximately 7700 bales of wool will come under the hammer at the first New Zealand sale of the season, 'beginning at 9 a.m. to-morrow at the Town Hall. And the question everybody in the trade is asking, and cannot definitely answer is, what will be the price? Of course, the quality of the wool _will have to be taken into account —and it is not so high as that of the first offering this time last year. Buyers are in Wellington in full force, and have their instructions, but if they have any idea of values they are not communicative on that point, and some of them have said quite frankly that they do not know and cannot tell until to-morrow when their limits will have been definitely fixed. Yorkshire representatives, however, admit that they can lift the wool suitable for their requirements, providing they can meet the price. Continental buyers admit that their manufacturers have also had their troubles. /

The market situation is exceedingly interesting, and no doubt the galleries at the Town Hall to-morrow will carry a fairly large number „of growers watching the market for themselves. While materially lower prices than were realised 'last November are expected, the unexpected is always likely to.happen, to put it tritely, and "the fall may not be so severe as 2d to 3d per pound as has been predicted. Besides .tihere is to be taken into account the recent improved tone of the crossbred market in Australia, which may be discerned in the first Wellington sale with its small catalogue of under 8000 bales to be disposed of.