AUSTRALIAN WOOL SALES.

New Zealand Herald, Volume LVII, Issue 17594, 6 October 1920, Page 7

AUSTRALIAN WOOL SALES.

DULL OPENING IN SYDNEY.

Australian and N.Z. Cable Association. (Eecd. 12.30 &.m.) SYDNEY, Oct. 5. The first wool sale held in Sydney 6ince 1916 was held to-day. • Only 2549 bales were offered, mostly poor and medium selections. Although the attendance was large, including French and American buyers, competition was slow. Inferior sorts realised low prices, and several lots were withdrawn. Greasy wools realised up to 2s lOd and scoured 4s 2d. Despite the slackness of the bidding at the sales, th>s general trend of prices was up to expectations. The little super, wool offered was sold at 35 to 50 per cent, above appraisement levels, good wool at 20 to 25 per cent, advance, medium wool at par to 10 per cent, advance, good broken pieces at 12 to 20 per cent, advance, and burry pieces at 10 per cent, below.

AMERICAN DISAPPOINTMENT. A. *ud N.Z. NEW YORK, Oct. 4;

' The New York Journal of Commerce, commenting on the reports of the Adelaide -wool sales, says - that it; is clear- that American " •woolgrowers will resist any effort to establish such a low basis as that indicated in Adelaide as the value: of. the fine wool product. It states that unless the Australian sales improve they cannot be construed as helpful to the trade here. Buyers of wool who have been holding off in anticipation of Australian auctions setting the basis will continue to hold off.