WOOL SELLING

Northern Advocate, 27 May 1921, Page 2

WOOL SELLING

RATHER BETTER PRICES. BUYERS OPERATE FREELY. 3THER 'COUNTRIES WANT WOOL (■Special Correspondent.) WELLINGTON, This Day. Yesterday's Wellington wool sale is regarded by broker s and prominent producers as reasonably satisfactory. Some 11,200 bales were of. fered, and about 70 per cent." was sold. The prices in the majority of case s were fully equal, on a parity basis, to the rates that ruled in London in the May sales, when slightly improved rates were reported. Brokers state that in comparison with the price s ruling at the last Timaru and Dunedin sales, in March, the prices paid yesterday for cross, bred wool were one penny per pound better all round. The prices are still low, 'but it was reassuring to see that the buyers who represented America, the Continent and Japan, as well as Bradford, wanted wool and were ready to bid. Their limits generally were higher than the "Bawra" minimum reserves. Owners of wool were at liberty to fix higher reserves, but apparently most of them had been content to accept the "Bawra" minima. The range of crossbi'ed prices yes. erday was:— iSuper 65d to G2d. iFine 5d to 6d. Medium 3|d to 4id. ■Coarse 3d to 31d. Inferior and seedy 2}d to 23d. The commandeer prices for cross•breds were:—'Medium to good 14d to . 17d, inferior and coarse 12d to 14d. MR MABIN'S RETURN. PROSPECTS FO'R COARSE WOOL. MUTUAL SACRIFICES. Mr A. E. Mabin, who has been representing New (Zealand in the negotiations with the CBritish-Austrahan. Wool Realisation j Association, returned to Wellington yesterday. He will make a report to the Minister, of Agriculture,, and in the near future will meet the Producers' Committee. . ■Mr Maibin said yesterday that he did not feel at liberty to make any general statement regarding his mis. sion until he had presented hia 1 official-report to the Minister. He ~ had been in Australia at a very critical and interesting time in the | history of the wool trade, and he - had done his 'best to represent New Zealand interests land to gather all the information that would -be of jvalue to this country. The. wool situation in Australia certainly had improved to some extent lately, but this improvement related chiefly to ifine wools, of which - Australia" had something like a monopoly, and he could not profess to be optimistic about the outlook for crossbred There, was enormous this wool, and its disposal wag be a matter of great Co-operation among the countries, producing coarse wools appeared; ta s be essential, and this might involve ' mutual sacrifices. ,