THE WOOL MARKET

Manawatu Standard, Volume LV, Issue 303, 20 November 1935, Page 4

THE WOOL MARKET

OFFERING AT AUCKLAND. AUCKLAND. Nov. 19. An offering of 18,500 hales is expected to he placed on the market at the first ■wool sale of the 1935-36 season, to ho held at Auckland on Tuesday next. Of this about 7500 hales have come from the large carry-over from last season, estimated at 18,500 hales, while 11,000 bales will be new season’s wool. Till a tew days ago brokers did not anticipate as large an offering, but recent orders to place clips on the market have accounted for the increase. The total still falls far short of the catalogue limit of 25,000 bales, a figure which i earlier in the season was regarded as highly probable. The normal clip at this time of the year is probably in the neighbourhood of 23,000 bales, but with one of the worst shearing seasons for many years farmers are having little -chance of completing their operations even whero they were fortunate enough to get 1 a good start. Frequent showers have held up the work ior clays at a time and torrential rains in places have made it impossible to get heavily laden motor trucks off the farms. Considerable interest centres round the London sales held to-day, as from these a fair indication of the general state of the market will be possible. Those in the trade were inclined to view the probable results of the recent British elections with optimism as likely to create confidence in future trade stability, with a healthy reaction, in the major industries such as wool manufacturing. Generally buyers at Auckland will be offered wool of attractive quality, and although there are no signs of influences likely to create violent price fluctuations either way, a good market tone should prevail.