BETTER WOOL PRICES.

New Zealand Herald, Volume LXII, Issue 18950, 23 February 1925, Page 8

BETTER WOOL PRICES.

IMPROVED TONE APPARENT. WELLINGTON, BIDDING BRISK. BRADFORD AND CONTINENT. ABOVE AMERICAN PARITY. [by telegraph.—-own correspondent.] WELLINGTON. Sunday. Wellington's fourth wool sale of the season began in the Town Hall on Saturday evening. It displayed a more cheerful tone than many anticipated, and although the prices were lower than at the January sale they were a shade better than those ruling at the sales recently held in Napier and Wanganui. There was a full bench of buyers, and right from the beginning bidding was brisk. As lot after lot was knocked down it was easily seen that the market was receiving the active support of Bradford and Continental buyers. The general tone of the sale was brighter and more cheerful than was displayed at Napier and Wanganui. The bidding was very much brisker than at the January sale held here, and at times its keeness recalled the activity that was shown at the November sale, when buyers bought regardless of cost. Generally values were from 2jd to 3d lower compared with the January range of prices, with the heavier drop on fleece wools. Coarse crossbreds did not depreciate to the same extent.

The Bradford representatives were apparently interested in all grades of wool, for Merino, halfbrod, crossbred and bellies and pieces all seemed to fall to their bids. The Continental buyers were at times extremely active. The representatives of France were keenly interested in lambs' wool, and they secured several lots. A noticeable feature was the comparative quietness of the American buyers. As far as can be gathered Boston stands in need of wool. The domestic clip is totally insufficient to meet the requirements of the country, hence heavy importations of foreign wools are imperative, but apparently at the moment New Zealand wools are above the Boston parity, forcing the American buyers into the twilight zone. Some super lots were, however, secured for America.

The broad results of the opening of the sale ?>re that low grade wools were less affected than fine wools. There was a strong demand for lambs' wool. All crossbreds were easily quitted at the lower range of values. Bellies and pieces ruled lower, but the drop in values was less in proportion to fleece wools. Competition for bin wools was if anything less active. Buyers displayed more confidence and (he generally brighter (one came as an agreeable surprise. There was a comparatively little passing in of lots offered, but it was noticeable in glancing through the catalogues that many lots had been withdrawn from sale. At current prices crossbred wool is a remarkably good asset.