THE NAPIER WOOL SALE.

New Zealand Herald, Volume LXIII, Issue 19264, 1 March 1926, Page 7

THE NAPIER WOOL SALE.

GREAT ACTIVITY OF BUYERS.

Tho extradordinarily brisk bidding that characterised the opening stages of the Napier wool sale was continued practically throughout the whole of tho second day, the auctioneers at times, being so inurvdated with bids as to render the selection of final purchasers a matter of the greatest difficulty. , On more than one occasion altercations occurred on the benches as to which buyer got in first with clinching the offer.

The for the most part was in fairly good condition, considering that none of the season's offerings have been particularly good. Although it was the latter end of the season it was by no means tho tail end fleece, as a large percentage of the product comprised wool which failed to quit at previous sales. Many of the lots were in a very greasy condition. This fact was amply illustrated by the appearance ot the wool packs, especially so in the quota offered by Dalgety and Co. However, this did not deter expeditious selling, this firm quitting just on 3000 bales in a little over three-quarters of an hour. On the whole, the percentage of passedin lots was small, if anything less than was the case in the January sale, and only occurred when the reserve price was prohibitive. An exceptional demand was made for pieces, all countries energetically competing, and although there wa3 no suggestion of over-stepping the obvious limit figure set by buyers, the prices realised for this class of wool were eminently satisfactory. "Very satisfactory all round/' was how a local broker described the sale, adding that it was satisfactory to note that all the indications were those prompted by a stabilised market.

One buyer stated that the demand for wool was as great, if not greater, than ever, and saw no reason, he said, why such a demand should not continue just so long as the growers were reasonable and did not attempt to force the market by what he described as "injudicious retention."

During the sale of Williams and Kettle's offerings, which embraced 4957 bales, a remarkable quittance was effected, only about 5 per cent, of the total offering failing to pass the hammer,> and a good many of the latter were subsequently disposed of. Some outstanding lots in this catalogue' prompted sfrong competition from American benches. Bradford forced the price when the top-making classes were put up, and Continental buyers were all out for pieces and bellies, and contested strongly for lambs. On the whole, medium and inferior sorts were more favoured than superior wools. The market remained firm right up to the end of the day, with, if anything, a- tendency to harden.