WOOL MARKET

Evening Post, Volume CXXV, Issue 19, 24 January 1938, Page 11

WOOL MARKET

PRICES STILL HOLD

SECOND AUCKLAND SALE

(By Telegraph —Press Association.) AUCKLAND, This Day. The second Auckland wool salt opened with a catalogue'of'3o,ooo bales and a bench of about 50 buyers: ..' The bidding, however, was mainly confined to about half a dozen buyers, who appeared to compete keenly but within closely-defined limits. Buying Nwa3 again largely confined to the Continent, but Bradford seemed more active thari at the last sales. At the conclusion of "the first'catalogue, which was a substantial pne,' th« opinion was that the sale was definitely better than last week's sale at Wanganui, and probably rather better than the Auckland November sale. Prices seemed a little better, with over 80 per cent, of the catalogue 'cleared. As the sale progresed the trend "disclosed in the first catalogue was maintained, with a 'clearance of over 30 per "cent, at prices approximately "jd per pound above those ruling at Wariganui'last week, , '. - This js attributed to the fact' that Bradford was buying more freely. In the earliest catalogues 'no • very high prices were realised, . halfbreds running from 12d to 14d, lambs wool JOJd to 13d, ordinary fleece' B£d, to lid, and bellies, pieces, and crutdhjngs Bid to B£d, A leading wool buyer present at- to day's sales dissents.from the'view that prices are up a half-penny \on Wanganui, and says that prices are-firm on Wanganui rate'^. He sjctds'tliat although Bradford is buying today- the. bulk of the wool is stUI .being bought by the Continent, and that America.and "Japan are definitely oft" the buying market today. OFFICIAL REPORT. -■ • • The official report states that. SO per cent, of the wool was sold '-at auction, competition being keen, within restricted limits. The Continent »hd Bradford were the principal, buyers, America and Japan not .operating.'. The wool opened in good, average-condi-tion but was inclined to be a shade finer and not so- well grown .as that of last season, coarse' crossbreds prevailing, of which a limited quantity elicited keen competition and sold at relatively higher prices than the finer short wools. Prices on the average wore on a par with the sale immediately preceding. Compared with the first Aucklandsale in November prices 'for hogget wools ranged from ttd to Id' higher While prices for ordinary crossbreds were in the sellers' favour,' difference in the condition of, the wool having been taken into consideration.