OPENING WOOL SALES

Evening Star, Issue 20023, 14 November 1928, Page 12

OPENING WOOL SALES

A REDUCED OFFERING [SrECU LTO TUB ‘ STAK.’] WELLINGTON, November 18. Tho New Zealand wool sales open with the Wellington auctions on Friday, when 7‘,775 bales are to be submitted, a drop of 1,200 bales compared with last year, when 0,002, bales were sold at an average of 15.639 d per lb. Until a few .days ago tho indications were for an even lighter offering than is now the case ? as tlio wet weather has interfered with shearing. However, there has been a rush of. 1 wool during the last few days, though not equal to the opening supply in 1927. There is little inclination to prophesy Friday's prices. Though brokers do not expect them to equal last season’s closing rates, there are indications of a firmer tone in the English market, which, it is hoped, will be reflected hero. One broker points out that this week’s salo should not be regarded as a very definite indication of the seasonal prospects, as the bad weather lias prevented tho larger stations from making the usual progress with their, clips. The result will ha that tho hulk of tho offering is of farmers’ clips, nob the big staple lines on winch more reliance can bo placed for predicting future prices. The wool to hand is well and evenly grown, and light in condition.