WOOL

Hawke's Bay Tribune, Volume XVIII, Issue 21, 6 January 1928, Page 8

WOOL

SECOND CHRISTCHURCH SALE SPIRITED BIDDING. VALUES SHOW HARDENING TENDENCY. Christchurch, Jan. 6. The second wool sale of th© current season was commenced to-night, when 8750 bales were sold, the sale concluding to-morrow. The catalogue, comprises 27,606 bales. The catalogue was not up to the usual standard of a January offering, due to the broken season A good deal of wool opjn up unattractively, lacking in brightness, whilst a more than usual percentage was tender. The opening of the sale indicated that a more buoyant market would be experienced than in November. From the outset bidding was decidedly more spirited and came from a wider section of buyers. Bradford houses were more in the picture, but Continental representatives again secured the heavier end of the catalogue. Local mills bought sparingly and purchases on American account appeared to be limited. Foreign representatives set a price for scouring wools that local fellmongers cannot participate in, and little of the catalogue went to them. Values generally showed a hardening on recent southern sales and an advance on the Christchurch November rates. Medium 50—56 wools were from Id to Id better than in November. and super about |d. The previous high rates operating for pieces were fully maintained, with no more than a fractional advance.

The bulk of the halfbred and Corriedale wool averaged from 20Jd to 22|d. the latter price being frequently exceeded. Merino averaged from 20d to 23d, and fine crossbi-ed, as far as the catalogue description can be followed, from 16d to ]Bd. The excellent atmosphere pervading the sale may be.judged from the fact that in the first catalogue of 6300 bales only 20 were passed The top price of the evening was 26d for Corriedale, a number of cases of 25d being recorded for both halfbred and Corriedale.