NEW ZEALAND SALES

Evening Post, Volume CXVIII, Issue 106, 1 November 1934, Page 16

NEW ZEALAND SALES

'. Murray, Roberts and Co., in their letters to clients, advise as follows: —''The outlook is very obscure, and as owing to the ]ack of Continental support last London sales were curtailed, this coupled with heavy withdrawals has left a fairly large accumulation of wool there, which, however, we hope may be absorbed before our Belling season begins. Fortunately the carryover in New Zealand is not nearly so large as formerly, possibly amounting to between 60,000 and 70,000 bales of greasy wool, but a strong and general trade revivnl will be necessary to give a, more healthy tone to the sales. Naturally it -s anticipated that the Continental trade must sooner or later come into the market for supplies, but unless finance becomes easier, the quantity lifted seems likely to be smaller than in previous years.. Japanese competition, which was a strong factor in New Zealand sales last season, is expected to be continued, and possibly expand, rfttd it will be well to bear in mind that Japan's requirement's are now for the better-grade wools, well got up and skirted. In thin connection we wish to emphasise the importance of the competition at tire New Zealand . sales of. Japan, Australia, and local mills, which is not "existent m London and which adds considerably to the buying power. In consequence there is a better spread in the demand than in London, with the result that local prices are usually above London parity."