WOOL PRICES FIRM

King Country Chronicle, Volume XXIX, Issue 4652, 2 February 1935, Page 5

WOOL PRICES FIRM

AT INVERCARGILL SALES. UP TO EXPECTATIONS. (Press Association.) Invercargill, Friday. The first Invercargill wool sale of the season held in the Civic Theatre to-day may not have caused growers a great deal of elation, but it was at least fully up to expectations. Thg values which have ruled at the recent northern sales were well maintained, and for anything in the nature of super wools there was a very keen demand. The cheque which Southland growlers will receive will fall a long way short of that which caused such a loosening of the prirse strings in February, 1934, but all things considered it will be a satisfactory one. Passings at the auction did not exceed lb per cent, and with the sales made privately immediately after the sale, it is expected that 90 per cent, of the total offering of 22,705 bales will have been disposed of. Bidding Always Animated. Bidding was always animated arid although a lot of the wool will find its way to Bradford, a fair amount was purchased by the Continent and Japan, while the local mills were ready buyers of super wools. Germany was in the market to some extent and the speculative element was also in evidence, which assisted considerably in the values obtained for the lower crossbred wools. The sale commenced at 2 o’clock and finished just befoi'e 6.30, the buyers preferring to go straight through without a break except for the brief intermission between the catalogues. In less than four and a half hours close on 23,000 bales were disposed of, which must be regarded as expeditious selling. . It was obvious from the opening that although buyers might be working within narrow limits they were most keenly interested in the bulk of the offerings, the result being spirited bidding throughout. It was only when it came to the odd lots at the finish that interest waned.