PRICES FIRM

Nelson Evening Mail, Volume LXXII, 16 March 1939, Page 7

PRICES FIRM

DUNEDIN WOOL SALES EXCELLENT CLEARANCES EFFECTED lllulted Press Association) DUNEDIN, This Day. At the third wool sales 27.267 bales were offered. Competition was wider spread than at the previous sale. Bradford revealed more elastic limits and Germany bought well Continental interest centred on piece wools. Offerings all showed the effects of the weather, some being off colour and out of condition Extra fine wools drew keen competition from local mills. Prices of fine wools were firm on Christchurch and Timaru, and a farthing to a half-penny dearer than at the second sale. Crossbreds were firm on Invercargill rates. Necks and pieces were in good demand, prices ranging from par to a farthing dearer on the last sale. Top prices for this morning were 15Jd. which was paid for superfine combing merino; and 14}d for four bales of superfine halfbred. both going to local mills. It was feared that the latest European crisis would affect prices, but London cables received by buyers were reassuring and there were no adverse reactions. Excellent clearances were effected, half the offering being completed by lunch. Passings were few. Despite the infinitesimal price advance wool is still selling well under production cost. Several growers interviewed expressed the opinion that the market was stabilising between 9d and lOd, which makes the golden fleece more of a copper one.