WOOL INDUSTRY

Hokitika Guardian, 10 December 1934, Page 4

WOOL INDUSTRY

FIRST W.ELLIGTOX SALE

(Per Press Association, Copy/igatV.

WELUGTON, December 9.

Only sixteen thousand bales, out of 25,000 allocated, were offered yesterday .at Wellington's first wool sale. Growers were not prepared to take full advantage of the. limit, apparently holding the opinion th.t prices will be better later in the season. A "fairly large ■percentage of the catloguc* failed to reych reserves. The wool is not quite ! up to the quality ordinarily offered atVelbngton in December. Buyers from all consuming centres wei'e well rep resell-' tod, but not all were buying. The Br.«(i|\n'd section ’-\casi the main-stay, with the important German section taking very little. Orders were in the market for Canada and Japanese buying of j course wool s was ,a feature. | A striking feature, of the market was the haavy decline in values . of fine and superfine wools, compared with other grades. This was more pnrticul- | a.rlv noticeable in . the ease of Southdown wool. Lower quality wools are now being used for many purposes, for which lat one time finer votes were toiquirecl. The result was a stronger demand for lower crossbreds, Lincoln in particular being brought after by • Japan. The catalogues have closed for the sale on January 7. The total offering for .that sale will be 28,900 bales. Mr. Steel, chairman of the Wellington Wool Brokers, said he considered the la goad one, when compared with those at Auckland and Napier. From the quality of the wool submitted, the prices could be quoted as firm on those at Napier. One bright spot was buying orders, from Canada for .certain types of wool, and one could only hope this was the beginning of lan increased trade.