COMING LOCAL SALES
DOMINION'S WOOL CARRY-OVER
Wool sales conducted in the Dominion ferlll be resumed nest month at Auckland, §n the 25th. The Wool Committee has limited that offering to 25,000 bales. Waijganui follows ou 28th with an 18,000 bales limit, Napier on 3rd December with 30,000 bales, and Wellington on Bth December .with a similar limited offering. jKfewly-shorn wool is now coming into tlie Wellington stores, and it is mostly from stud sheep. The wool so far re<;efevd is described as showing good growth, lustre, and soundness of staple, ajpd co far generally superior to the early *norn wool of last year to this centro. Mis impossible at this date to forecast
with any degree of accuracy what the strength of the market will be early in December, but some expert opinion inclines to a value of Od to 6Vad per lb for-ordinary topmaking wools; 7d to 7%d for good spinners' lines, and B%d to 9d for the superior American type of crossbreds.
The lambs' wool market has been erratic throughout the year, notwithstanding that last season but 10,800 bales were offered, as compared with 2I : 300 bales put up for the year before. Even with this small offering, business was" spasmodic, buyers coming into the market at one sale and going out at the other. France was responsible for lifting the bulk of. the supply of New Zealand lambs' wool.
Apart from the Dominion's carry-over of wool, a heavy weight will in any case be coming into the local market from next month onwards, and the New Zealand Committee1 has therefore imposed maximum limits on the offerings at. all sales, for weir into next March.
The world's market at the moment continues depressed, and it is very difficult to discover any signs of improvement before the end of this calendar year. The quantity of wool held over in the Dominion as at the end of August last whs 122,000 bales, and at the end of last month it 'was estimated that there were fully 116,000 bales of practically all last season's wools awaiting disposal, and apart from export of a certain quantity to be shipped on owners' account in the interim, (and it is very difficult to say how much) this old wool overshadows the 1930-31 market.
COMING LOCAL SALES
Evening Post, Volume CX, Issue 86, 8 October 1930, Page 14
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