WOOL IN AUCKLAND

Evening Post, Volume CXXVII, Issue 74, 29 March 1939, Page 4

WOOL IN AUCKLAND

A 95 PER CENT. SALE

(By Telegraph—Press Association.)

* AUCKLAND, March 28. The final Auckland wool sale of the present series was concluded today. The remaining catalogues, comprising 11386 bales, attracted keen bidding from representatives of Bradford and Continental firms, and were disposed of in less than two hours. Because of the similarity of conditions today to those experienced at the opening, no official report and range of prices covering the second day's activities was issued by the Auckland Woolbrokers' Association. . A price slightly in excess of £12 a bale is considered likely to be the average for today's selling and, on this basis, with a clearance of at least 95 per cent., the return to growers would be about £130,000. Growers are estimated to have received something like £280,000 from the opening day of the sale and their proceeds from the two days' selling are therefore expected to approach £410,000, against £432,521 from the final sale last year. The return for three sales is thought likely to exceed £1,000,000 by a fair margin and to equal the 1957-38 xeaHsatioii of £1,031,483.

Bidding was again brisk, fo»fc restricted by definite lim;ts and iwp&tbnfined to comparatively few 6f tRe buyers present.

Top price today wn lid a lb, accepted for two ofEerir..,j. The WgEest price offered was 13§d for 11 bales of scoured fine crossbred. The wool was passed at this price. It was estimated that less than 5 per cent, of the wool offered' remained unsold at the end of the auction, and of that a proportion is likely to be disposed of by private treaty.