THE LOCAL MARKET

Evening Post, Volume CXXVI, Issue 132, 1 December 1938, Page 12

THE LOCAL MARKET

' Napier will hold the second wool jsale of the New Zealand 1938-39 series 'tomorrow with what has been dej scribed as a catalogue of excellent wools, including lines from the Poverty Bay district. The wool to be submitted is said to be well grown, clean, and bright, far more attractive than wool offered at the first Napier sale of last year. The prospect of firm prices for wool in Hawke's Bay this year, states a local journal, has been one of the few bright spots associated with the stock markets in recent months, particularly in view of the low prices which are to be paid for mutton exported from the Dominion during the coming season. Farmers generally will therefore welcome the news that at next Friday's sale in Napier they may expect rather more than they obtained at the same sale last season, quite apart from the question of improyed quality. It is in regard to quality, however, that farmers in Hawke's Bay have the greatest reason to feel pleased with this year's clip when compared with last year's product. The wool which was offered last season was severely affected by the drought conditions which ruled during the previous autumn and winter and in many cases was lighter by anything up to 30 per cent, when compared with a normal clip. The following is the order of sale: — Bales. Dalgety and Co., Ltd. ..... 3,260 Williams' and Kettle, Ltd. .. 5,404 Loan and Mercantile 2,124 De Pelichet, McLeod and Co. 3,677 Hiß. Farmers' Co-op. Assn., Ltd. 5,445 Total 23,299 The limit placed by the New Zealand Wool Committee for this sale was 24,000 bales. Particular interest attaches to this Napier sale as Wellington will follow with its first sale on December 7 and prices realised at the second sale of the season may have an important bearing on the market in this centre when 24,000 bales will coma under the hammer on Wednesday next.