THE WOOL MARKET

Evening Post, Volume CXVII, Issue 51, 1 March 1934, Page 14

THE WOOL MARKET

CHRISTCHURCH SALE

The third Christchurch sale of the present season will be held tomorrow in the Caledonian Hall, Kilmore Street, commencing at 9 a.m. The catalogues of the various firms and the order of sale are as follows:— Bales. N.Z. Loan and Mercantile Co 2,012 National Mortgage and Agency Co. 2,837 H. Matson and Co. 2.34S N.Z. Farmers' Co-op. Association .. 4,475 Pyne, Gould, Guinness, Ltd 6,390 Dalgety and Co 5,954 Total ..24,556 Though the offering will include a big proportion of back country, and consequently fine, wool, it will be o£ a lower standard than that at the second sale, which generally attracts the majority of the stylish clips. It will, nevertheless, be fully up to the standard of the average third offering—probably better—as the season in the back country has been a very equable one, ami the clip ia soundly grown. The easing tendency of the market this last three weeks will doubtless be reflected on Friday, but possibly not to the proportionate extent as at recent northern sales, where the bulk of the offerings were of the coarser grades. The latest advice received by cable from England by the Bank of New Zealand predicted for the March sale's a decline of Id to l%d for merino, about l%d for fine crossbred, and fully Id for medium and coarse crossbreds. Should the decline on Friday be no more than this prediction venders will have no reason to be dissatisfied. A satisfactory feature of the sales is that the buying strength continues to be well distributed, notwithstanding the easier tendency. It was apparent that the peak auctions this season were above London parity, and possibly the easing is more in the nature of an adjustment. The present standard of values doubtless will enable the market to feel the full weight of Bradford competition. The catalogue at the first Christchurch sale comprised 25.000 bales, at the second 27,500, and Friday's offering of 24,500 will bring the total offered for the season up to 77,000 bales. The total weight of wool offered at the local centre in the 1932-33 season was 82,406 bales, including the fourth auction, when 11,084 bales were offered. Last season, however, a considerable quantity was shipped to England for disposal, and there is practically no passing; at the Christchurch sales this season.