DOUBLE WOOL SALE

Otago Daily Times, Issue 26747, 16 April 1948, Page 6

DOUBLE WOOL SALE

AUCTION BEGINS TO-DAY NO MARKED INTEREST BY FARMERS Although Dunedin’s first double wool sale will be held to-day and on Monday there has been no marked increase in the degree of interest shown by the farmers of the province. The fact that the opening day is a Friclav—a day on which many farmers'come to town-may lead to an increased attendance at to-day’s auction, but the enthusiasm once shown by growers for wool sales has been little in evidence this season. There are probably two reasons for this attitude. In the first place, the keen competition of the buyers has made buoyant prices a virtual certainty, removing the interest and speculation about “how the sale will go” In the second place, prices have been so high that those with large entries are more concerned about the amount of taxation that will be entailed rather than any advances which might be made in the prices of the various descriptions of wool. Nevertheless, groups of growers gathered in city wool stores yesterday to cast an appraising eye over the thousands of opened bales and speculate as to the top price at this, the fourth sale of the season. Some considered that the prospects of the highest prices reaching 60d were bright, but there appeared to be no one optimistic enough to venture the opinion that the New Zealand record of 54Jd would be reached on this occa#l Approximately 18,000 bales will be offered each day, a fact which will make conditions easier for buyers and auctioneers alike, compared with the somewhat harassing circumstances of a single sale with 30,000 bales to be disposed, as has been the case at previous sales this season. All told, the largest number of bales to be brought forward at a Dunedin sale will be offered to-day and on Monday, and competition is again expected to be keen.-