OUTLOOK FOR WOOL.

New Zealand Herald, Volume LXVIII, Issue 20827, 20 March 1931, Page 7

OUTLOOK FOR WOOL.

NEXT AUCKLAND SALE.

BETTER PRICES EXPECTED. LARGE OFFERING INDICATED. "We naturally do not wish to make any definite statement as to what prices will be, but I am confident they will show a big improvement on the last Auckland sale," stated Mr. B. J. Marquet, chairman of the Auckland Woolbrokers' Association, last evening, commenting on the prospects for next Friday's Auckland wool sale.

The result of the Wellington auction was being awaited with more than usual interest, said Mr. Marquet. Although a large percentage of fine wools would be offered there, much of the catalogue would bo similar to that at next week's Auckland fixture. There was every indication that the Continent would continue to play a strong part, with ; buyers taking a large portion of the class of wool grown in the Auckland Province. There was no reason why Japan's interest should not be sustained.

Practically all the wool held in Auckland stores, comprising 15,000 to 16,000 bales, would bo offered, and further consignments( might come forward from the country, where it was estimated between 25,000 to 30,000 bales were held in farmers' sheds. The offering would contain an appreciable percentage of lambs' wool, butvery little of last season's hekl-ovec wool, as the bulk of this had either been sold or shipped to London. Up to the present this season the brokers had been helping growers to bear part of the burden of the low prices by giving free storage for wool held in Auckland stores. The limit for this free storage has now expired and the position is to be reviewed after the sale.

The catalogue for the sale will close officially to-morrow. A full and representative bench of buyers is expected.

LONDON MARKET 'FIRM.

GOOD GENERAL COMPETITION

LONDON, March JB.

At tlie London wool sales to-day 11,736 bales were offered, including 4195 from New Zealand. Practically all were sold. There was a small selection of Merinos, a large offering of greasy crossbreds, and a moderate supply of scoureds and slipes. There was more general competition and prices were firm at full late rates, and occasionally in sellers' favour. The New Zealand greasy crossbred clip "Mohakatino" made top price lOd, average 9jd; "Mangaruhe," 10£ d and 9|d; "Ashcott," 10|d and 9£d; "Huiarau," 10£ d and lOd; and the Merino clip "Bankhouse," and 12d.

BEST RATES OF THE WEEK.

(Received March 19, 10.55 p.m.)

SYDNEY, March 19,

At the Sydney wool sales to-day 10.306 bales were offered and 9963 were sold. Also 1113 bales were sold, privately. Under strong general competition the market closed at the best rates of the week for all descriptions.

MARKET IN SYDNEY.