WOOL MARKET

Grey River Argus, 7 December 1932, Page 3

WOOL MARKET

NAPIER SALE Good Sorts Go Well (Per Press Association). NAPIER, December G. Th c first wool sale* of the season in Napier was held this afternoon and evening, continuing to a late hour. A total catalogue oi 29,000 bales was submitted to a hull bench of buyers, lepresentiug Badford, the Continent. Japan and local operators. Competition was keen from the out set, the French section being specially keen, while Germany was much quiet or than at the Auckland sale this be ing accounted for by reason of th fact that Hawke’s Bay wool is not so suitable for her requirements. The Japanese were keen competitors for ail wools suitable to their requirements, and B.adford kept picking up lots of the required type. Thc wool opened up in very good condition, th? clips this season being better grown and more robust than last vi-ar. Included in the offering were quit'- a number o'f super wools and for those the competition was animated, and good prices were realised. Judged on the early catalogues, the prices for butter wools were from par io a shade firm l r than those ruling at Auckland hist week. Ordinary top making sorts were about the same, and bellies, pieces and necks were firm. As the sale progressed the prices were rather more erratic, and the. 'owcr qualities were generally cheaper. Xo official rang-' of prices is available to-night. BRITISH WOOL MARKET. LONDON, December 5. At the wool sales. 7,548 bales were offered, including 2,032 New Zealand. Approximately three thousand were sold. There was brisk Home and Continental competition. The Contin-, ent took the bulk of punt as, at five per cent, above’ the closing rate ot last series. New Zealand greasy halfbred natd/b l.Ud. crossbred Waitio top 9-. d. average 81'1, hallbred lamb slipc Pareora 12jd, scourcds h.h./rd, seventeen. 16j|d. Bradford: Very firm, topmakers refusing to make concessions. Mr AV. P. Devereaux, representative of the Australian Woolgrowers’ Council, reports that uncertainty regarding exchange and war debts caused slightfly lower Continental values for wool tops. This checked thc market, but re-j cent lower prices increased the Yorkshire demand, resulting in active general competition, the market tending in sellers’ favour. The firmness of raw wool has made Bradford disinclined to reduce quotations, although tops are quiet. Merino is firm, but spinners are hesitant. SYDNEY SALES. SYDNEY. December 6. The wool sales resumed with very strong competition in all sections, Japan predominating. The market was without change from the closing rates of the last series. American competition was noticeable on superior wools. Greasy merino made 22 }d. Offerings totalled 11.865 bales. 11.216 were sold, and 1223 were disposed of privately. The average price of wool sold in Sydney this season to date is £ll 9s 5d a hale, or 88d a pound.