BUOYANT WOOL MARKET

New Zealand Herald, Volume LXV, Issue 19866, 9 February 1928, Page 8

BUOYANT WOOL MARKET

THIRD GHRISTCHURCH SALE

KEEN BIDDING THROUGHOUT.

JANUARY RATES EXCEEDED.

[BY TELEGRAPH. —PRESS ASSOCIATION-] CHRISTCHURCH. "Wednesday.

Tho third Christchurch wool sale of the season commenced to-night when 10,000' bales of a catalogue of 24,000 were sold. The sale will be resumed in the morning. Back country clips were well represented in the offering. The wool opehed up moderately, but there was an unusual proportion of tender and a fair amount of dusty and seedy.

There was a full bench of buyers, representing British, Continental, Australian, American and New Zealand houses. From the outset it was obvious that a very keen market was to ensue. Bidding was in broadsides and some operators apparently wero not very much embarrassed with limits. Continental and Home buyers secured the bulk of the offering. As an indication of the keenness of the market only four bales were passed in the first catalogue of 2000 odd. The passings in the 10,000 bales disposed of were under 25 bales.

Compared with the Christchurch sale in January various classes of wool were up by 2d to 3d a lb., and on the Timaru sale of last week there was a general appreciation of a penny-, with prices showing an exceptionally strong tone. The top price of the evening was 273 d, secured for the first classing of two clips. Several other prices ranged from 26£ d to 27£ d. Halfbred pieces touched 23£ d and Corriedale fleece 26jd. Lots described as three-quarter and coarsebred made 24fd and 22gd respectively. The average price of halfbred throughout the evening was 22d to 25d, Corriedale 22d to 24£ d, and crossbred 16d to 18jd.