WOOL PROSPECTS

New Zealand Herald, Volume LXXIII, Issue 22579, 18 November 1936, Page 9

WOOL PROSPECTS

FIE ST AUCKLAND SALE WEATHER DELAYS SHEARING DIFFICULTY AT STORES Prospects are considered excellent for the first of the 1936-37 series of Dominion wool sales, to be held at Auckland on November 2S. However, with delays to shearing caused by broken weather and labour difficulties in the wool stores there is some doubt whether even this year's reduced catalogue may be filled. Wool was coming; into store fairly' slowly until this week, but it is now moving in more rapidly, and if the fine weather experienced during the past few days continues, a last-minute rush is expected. Workers in the wool stores failed to report for duty last Saturday in an endeavour to bring about a 40-hour week, oi<cl this has caused considerable delay, formerly overtime was customary on Saturday afternoons and on Sundays just prior to the sales, but as that does not seem to be possible this year, it is probable that wool which arrives after to-morrow or Friday will not be classed. All wool will be taken in rotation and some clips are bound to be excluded. Overtime probably will be necessary during the week, but even when this is taken into account there does not seem to be much chance of coping with wool which enters the stores late. The wool coming forward is a good, bright sort, quite equal to last season's clip in quality. There h as been a greater tendency toward classing this year, and this has further increased handling difficulties, although, owing to the nature of foreign competition, it will result in an increased return to the growers. Some growers have asked brokers to hold their wool for the second sale, but brokers generally advise against this, in view of the good prospects for the opening sale. They also point out that space cannot be booked for the second sale until the wool actually comes into store. The limit for the catalogue for the first Auckland sale is 20,200 bales, compared with 25,000 bales for the opening sale last season. Considerable interest attaches to the London wool sales yesterday, as from these a fair indication of the state of the market will be obtained.

AUCTIONS AT SYDNEY VER¥ KEEN COMPETITION (Received November 17, 10.20 p.m.) SYDNEY, Nov. 17 At the Sydney wool sales to-day 12,859 bales were offered and 11,334 were sold. Also 1095 bales were sold privately. The market's strength was well maintained under very keen competition from Yorkshire and France, and occasionally America. Greasy Merino sold to 27id. MELBOURNE MARKET RISING TENDENCY SHOWN MELBOURNE, Nov. IT A rising t«ndency was disclosed at the Melbourne wool sales yesterday, when 11.31)0 bales were submitted. There was spirited bidding for every lot. Compared with the last. Melbourne sales, well-grown Merinos and comebacks were 5 per cent higher, and others a shade dearer. The top price was 2od. Some excitement was caused by persistent rumours that Japan intends to resume operations in a day or two. but experts do not consider that there will be a resumption till after Christmas. It is believed that Japan has bought sufficient raw wool for mill requirements from South America and South Africa. BRADFORD MARKET FIRMNESS OF PRICES LONDON, Nov. 10 The Bradford market is quieter, Ibut firm. Topmakers are avoiding commitments, pending the opening of the London wool sales.