TIMARU WOOL SALE

Evening Star, Issue 21905, 17 December 1934, Page 9

TIMARU WOOL SALE

BETTER PRICES THAN CHRISTCHURCH REACTING TO FIRMER LONDON MARKET [Per United Press Association.] TIMAR.tr, December 17. The first wool sale in Timai’ii lor the current season was held this morning, when 8,392 bales were submitted, compared with 10,895 at the corresponding sale last year. The explanation of the smaller offering is that many growers, in view of the weaker demand in the North Island and in Christchurch did not send forward their clips, being convinced that values at the next sale are unlikely to mark a further decline, but rather the reverse in the light of the latest rates current in London. The wool came forward in good condition, being well grown, the general average being superior to that of last year, when the clips suffered somewhat on account of weather conditions. The competition from the full and representative bench was keen and more general than at any previous sale in the dominion this season, while prices as compared with Christchurch last week were distinctly firmer, halfbreds being a farthing dearer and crossbreds a halfpenny higher. These firmer rates are attributed largely to the reaction of the 5 per cent, appreciation in London and Sydney. . . From the start bidding was keen, and at times particularly spirited, over a wider range of lots than at any previous sale this season, principally due to the more active demand from Continental operators. A super lot of merino, which attracted keen competition from the dominion mills, sold up to 14}d. New Zealand buyers took the bulk of the merino clips, being prepared to advance their quotations to secure the lots. -