TIMARU WOOL SALE

Greymouth Evening Star, 17 December 1934, Page 8

TIMARU WOOL SALE

RATES FIRM SLIGHTLY. [PER press association.] TIMARU, December 17. The first wool sale in Timaru of the current season was held this forenoon,' when 8392 bales were submitted, compared with 10,895 at the corresponding sale last V eal ’- 9 ne explanation of the smaller offerings is that' many growers, in view of the weaker demand in the North Island and in Christchurcli, 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 latest rates current in London. Wool came forward in good condition, being .well grown, the general average being superior to that of la->. year, when clips suffered somewhat on account of weather coiidiuoiis. Competition from a full r-db esentative 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 crossbred a half penny higher. Ihe firmer rates are attributed largely to the reaction of five 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 more active demand from Continental operators. Super lot merino, which attracted keen competition from Dominion mills sold up to 143 d, while New Zealand buyers took the bulk of merino slips, being prepared to advance tlieir quotations to secure lots.