SYDNEY WOOL SALES.

New Zealand Herald, Volume LXIII, Issue 19274, 12 March 1926, Page 9

SYDNEY WOOL SALES.

EXCELLENT COMPETITION.

VALUES GENERALLY FIRM.

The three days' Sydney wool sales at the end of February were characterised by an excellent volume of general competition at values right up to tho slightly improved basis recently recorded. Yorkshire was a very strong bidder. The renewed confidence displayed by the English trade constitutes one of the most assuring features of the market. United Kingdom buyers appear to be well equipped with orders, and with bidding limits which enable them readily to secure their requirements. Despite the uncertain financial position in France, denoted by the. latterly quoted level of the franc, 135 to the £. operations, on behalf of that country were extensive, embracing superfine parcels in addition to the less attractive types of fine staple suitable for that quarter. America also bought high-class wools freely. Germany was particularly active on skirtings. Italian and Belgian operators, in addition, gave the market welcome support. Of the 29,953 bales offered, 27,520 bales, or 92 per cent., were sold at auction, the catalogues averaging about £2l 10s per bale. Receipts of . wool at Australian stores from July 1 to January 31 totalled 2,006,718 bales. To the close of February approximately 1.440,454 bales were disposed of by sale,"and shipment. Therefore only 566,264 bales, which were received up to January 31, aVe now on hand, and if all goes well those stocks will practically be cleared at the end of April. Brisbane *is the only centre which receives much wool in any quantity from January to June. Sydney market has about 270,000 bales in store waiting sale. Consumers who need Australian supplies have' not over-large quantities to draw upon. May allocations provide for the submission of 99,000 bales in Sydney, but of that quantity only 59,000 bales are in sight. By Telegraph—Press Association—Copyright. (Reed. 12.35, a.m.) SYDNEY, March 11. At the Sydney wool sales to-day there was spirited bidding, and good clearances were effected. Tho market closed without change. Greasy Merino sold to 29^d.