KEEN COMPETITION

Evening Post, Volume CXXIII, Issue 46, 24 February 1937, Page 13

KEEN COMPETITION

PRICES FIRM ON WELLINGTON

(By Telegraph—i'resa Association.)

NAPIER, This Day.

Approximately 30,500 bales were, offered at the third wool sale which opened at Napier this morning. Competition was very keen, prices generally being firm on the recent Wellington sale, but lower than the last Napier sale, when peak prices were realised. On the whole, today's prices were about 2d' below the last Napier offerings, and on a par with Wellington prices.

The offerings generally were of mixed quality, with coarse wools selling best, but there was a keener de-mand-for tine wool than anticipated. There was not a great deal of line wool on the market, but what was offered was of particularly good qualify and was keenly sought after, the top price being 18d" on three occasions, in each case for top lines of fleece wool. Growers generally met the market, there being very few passings and these only when better quality wool failed to reach venders' ideas of values, even though in many cases the prices offered were close to those accepted at the Wellington sale.

Continental buyers were operating very fully, France, Germany, and Belgium being the principal buyers, with America and Canada next. Japan and Bradford bought only occasional lots. Generally speaking, the tone of the sale was very bright and well up to expectations, particularly when it is considered that the quality of the wool was not up to the standard of the previous sale.

There was again a keen demand for binned wools, and the increasing popularity of this class was indicated by the large number of entries submitted under this system. The average price was just over 14d.