THE WOOL MARKET.

Poverty Bay Herald, Volume L, Issue 16604, 6 December 1924, Page 7

THE WOOL MARKET.

ITIGH PRICES REALISED

(Special to the Herald.) AUCKLAND, this day. The first: Auckland wool sale of tin season concluded yesterday before : record bench of buyers, represent in | every wool consuming country. r .Ch high standard of prices sei a t t Hi sales in the South was fully main tained, the average price realised I'o the offering being approximately £.'!•' per bale. The bulk of a record offer ing was as usual crossbred, which real ised prices equal to those estuhlisluH nt Christehureh, and some of tin stronger crossbred sold rather bette than at that centre. It would be sur prising if the high and excited marke conditions did not cause the most ex perieuced buyers some anxiety. N( doubt each buyer has his instruct ion.' up to a point, but his personal re sponsihility must be great. One ol the largos' buyers staled thai if hi were inclined lo bet upon the future prospects, it would be on prices declining nither than rising. This be lief did not affect the vigor of his on slaughl upon the offering, but it must be assumed that the possibilities of ii decline kept some check upon purely speculative buying. For a consider able time one buyer who usually i,< well to the fore made no bid, unci when at last a lot was knocked dowi to him :i round of applause greetet! him, to which he replied "I 've brokei my duck." By-play among buyers, whose joke? were not usually clear to the spectators, sometimes developed into rathei costly comedy. Once two of the big men claimed to \ have got at lot at 2-bbl. Smiling genially at each othoi as "if a matter of halfpenny a pound was the merest trifle, they snapped bills against each other, farthing by farthing, until the price was "twentylive three " The bidder was in the act of recording his purchase when the other quietly said, "twenty-six,", and he got the wool. Just a passing joke it seem to them, but the owner will bless them. both. Such sporting duels cost money-. Now and again there was a single, bid, evidently at a figure beyond all other valuations, and when this happened a chorus of whistling arose from the benches, with grins that seemed to mean that the competitor had made a slip. The effect of the high prices was soon evident among growers, who had secured seats in the front. A sense of well-being and affluence had apparently settled upon a party, who began to make bets upon what, certain lots would bring, and crowns changed hands, a trifling matter, of ooufse, less than the price of two pounds of the best sorts of wool; just a handful of stuff. The total offering of 18,892 bales should realise over £6.50,000. It is further computed that the offering represents the fleeces of about threequarters of a million sheep, i NEXT NAPIER WOOL SALE.

CATALOGUE LIMIT 30,000 RALES

Napier's second wool sale of the season takes place on Wednesday next, and judging from the way in which the wool has been forwarded in to the stores at Port Ahuriri since the opening sale a fortnight ago, the catalogue. in number of bales, should: very nearly reach a record for this district. Tlte allocation for the sale is 30,CC0 bales, 35C0 of which has been set aside for GisGorne wools. This not- a record allocation, as 32,500 was fixed as the limit for ono sale last season, but on that occasion the actual catalogue did not reach 30,000 bales. Wool growers now, however, are anxious to place their wool on tho market whilst such excellent prices are being obtained 1 . For Wednesday's sale, therefore, it is more than likely that the full allocation will be made use of.

Last season when such big catalogues jwere. Wing offered a start was made with tho sale the night prior to the date, set, down, so that there is every probability that a start- will be made with this coming sale on the Tuesday*. Taking a. line on the prices realised a fortnight ago. (his coming sale, :'' the 30.CC0 bales are offered and sold, should mean the distribution through out. tho district of something in the vicinity of £1,000,000.—1 LB. Herald.

"The oft-predicted wool famine is now tin accomplished fact. It will probably exist for some years. But it will iiot hist for ever." These highly interesting comments in connection with the high prices being recorded at the current series of wool sales are made by no less an authority than Winchcom.be, Carson, Ltd.

Why tho famine will not last is explained in these words: "The.attraction of good returns 'will encourage sheepmen to increase their flocks." To this is added, however, the. observation, cheering to wool-growers, that there is little doubt that wool prices will remain at buoyant levels for as far ahead as can be seen.

Bst-imales of the world's wool position tire always of interest. Just, now the. guidance' sought is on tho point whether the present excellent .prices for our fleeces are likely to be maintained. Concerning this, Messrs Jae.omb, Hoarn aiid Co., of London, state:—"There should really be little difficulty in maintaining prices tit about present, levels. Though certain classes of wool may appear to be highly priced, Ave do not think that in general values are on too exalted n plane."