WELLINGTON WOOL SALE

King Country Chronicle, Volume XXVIII, Issue 4633, 8 December 1934, Page 5

WELLINGTON WOOL SALE

STRONG DEMAND FOR CROSSBRED. PURCHASES BY CANADA. PRICES ON PAR WITH NAPIER SALE. (By Telegraph.—Press Association.) Wellington, this day. The first Wellington wool sale opened with a large attendance. Buyers from all consuming centres were well represented, but not all were buying. The Bradford section was the mainstay of the sale, with an important German section taking very little. Orders were : n the market for Canada, and Japanese buying of coarse wools was a feature. Sixteen thousand bales were offered, whereas a maximum of 25,000 was alllocated for this sale. Growers, however, are not prepared to take full advantage of the limit, apparently holding the opinion that prices will be better later on in the season. A fairly large percentage of the catalogue failed to reach reserves, but the wool is not quite un to the quality- ordinarily offered at Wellington in December. Mr. Steel, chairman of the Wellington Wool Brokers’ Association, when asked for an opinion on the market as disclosed locally, said he considered the sale to be a good one when compared with those of Auckland and Napier, taking into consideration the quality of the wool submitted. Prices could be quoted as firm on those at Napier. They must be disappointing, however, to growers when one considered the values ruling last season. One bright spot was the buying orders from Canada for certain types of wool, and one could only hope that this was the beginning of an increasing trade from Canada. A striking feature of the market was the heavy decline in values of fine and superfine wools compared with other grades. This was more particularly noticeable in the case of Southdown wool. The lower quality wools were now being used for many purposes for which at one time finer wools were required. The result Was a stronger demand for lower crossbreds, Lincoln in particular being sought after by Japan. Mr. Steel said the catalogues had been closed for the - sale in January, and the total offering for that sale will be 28,000 bales.