WOOL MARKET

Nelson Evening Mail, Volume LXXII, 30 January 1939, Page 8

WOOL MARKET

DOWNWARD TENDENCY

SECOND CHRISTCHURCH SALE BUYING WELL DISTRIBUTED (United Press Association! CHRISTCHURCH. This Day. Fine wool values though easier were oetter than expectations at the second Christchurch wool sale to-day. Over the early stages of the auction the bulk of half-bred and Corriedale lines offered were about £d easier than the opening rates at the December sale, while better class fine wools were down by up to Id. Crossbreds were down full Id or December rates, but were slightly firmer than late rates in the North Isle nd. A feature of the sale was the excellent demand for hogget wools, large orders being placed on behalf of American buyers being responsible for values that were almost firm on December ••ate:-. Bidding was animated throughout, but as at the recent sales in the North it was obvious that buyers were operating to restricted limits The offering totalled 24.315 bales, mainly fine halfbred off the Plains, with a good sprinkling of crossbreds from the Peninsula and the West Coast. A feature of the offering was. as usual, numerous fine ewe clips. This is the best of the Dominion’s fine wool. Although fewer super lines were offered. the general quality of the wool was good and well grown, and freer from i stain than at the same sale last year, i and fairly heavy in condition. Buying i was well distributed, most of the pace being set by the Continent, with Bradford operating fairly freely. American competition, which was not a determining factor at the first sale, helped to keep up the price of fine wools, especially hoggets. Japan operated to a small extent.

Passings in the first three catalogues were practically negligible, showing that growers are prepared to face the market with its downward tendency.