Further Drop In Wool Prices

Manawatu Times, Volume LV, Issue 6788, 20 February 1932, Page 6

Further Drop In Wool Prices

Low Quality Offering at Wanganui

CONTINENT DOES MOST OF

THE BUYING

Per Press Association. WANGANUI, Last Night. The bulk of tho offering at to-night’s wool sale at Wanganui, tho second of the season in this centre, comprised wools of low quality of 44/46 counts. A full bench of buyers operated, but stylish first-grade wools, which were anything but prominent in the catalogue, were the only sorts that can be quoted firm on late sales. Inferior class' es were neglected. There was a great deal of seedy and inferior wmol offered, and this showed a drop of a halfpenny on tho last Wanganui sale. Low crossbreds were down threefarthings to a penny, and any low wools touched with seed were neglected at prices ranging from 3d to 3Jd. Good crossbred wool brought front 4d to 4kl. Crutchings found a poor sale. Bellies and pieces were par to a farthing down compared with tho January market here. There was a fair demand for lambs’ wmol of good staple, but ding} lots were a halfpenny lower. A review of tho sale generally discloses that tho quality of the wool was not of a standard to command respoct under present conditions. Buyers, particularly Bradford, operated on their limits and filled their requirements from clips which show'ed quality. The Continent took the major sharo of the wool sold, Bradford in the earlier part of the sale at least showing more hesitation than usual. Japan was in the market to some extent and probably gave a fillip to competition for somo of the coarser clips and crutchings. Tho sale commenced at 7 o’clock and it was int ended to finish to-night. Ihe range of prices will not be available till to-morrow.