LESS WOOL

Poverty Bay Herald, Volume LIV, Issue 16580, 22 February 1928, Page 7

LESS WOOL

NAPIER’S FOURTH SALE GISBORNE'S SMALL QUOTA * There will be less wool offered at next week’s sale in Napier than at the corresponding sale last season, owing to the quota for Gisborne being smaller than the quantity auctioned last February. At the February sale in 1927, 24,067 bales were offered, and of this amount 3808 were from Gisborne. Next week there will be only 2299 bales from Gisborne, out of a total allocation of 6000 bales. The Hawke’s Bay catalogue closed last month with 20,000 bales, so that the total offering next, week will be just over 22,000 bales, as against over 24,000 bales for the February sale last year. Although there is expected to be a large amount of Hawke’s Bay wool available for the final salo next month, there will probably be practically nothing from Gisborne, as nearly all the wool shippfed through this port for sale in New Zealand has already gone into . the stores. After next week’s sale the total quantity of Gisborne wool offered at Napier for the season will be 17;698 bales, and it is safe to presume that by the time the March sale is disposed of the total will n6t be much over 18,GC\) bales. This does not come up to the allocations of 20,000 bales for the three ' middles of the season, and this is despite the fact that Poverty Bay has experienced a record season from the point of view of wool production, it being estimated that the total Poverty Bay and East Coast clip will approximate 60,000 bales. The reason attributed in some quarters for the small entry of Gisborne wool for next week’s Napier sale is that the wool Was rushed into the stores early in the ■season, the growers fearing a drop in values at the later sales. This, how-

ever, has not proved to be the case as far as the experience in other centres goes, and it. would he an exceptional trend in the market if greatly reduced values are realised at next week's sale,. The apparent stability of the market has evidently induced more of the growers to ship direct to England and to try their luck there, for it is pointed out that more wool than usual is being slopped to the English sales than in past seasons.

AUSTRALIAN PRICES FIRM (Elec! Tel. Cdpyright-UnHerl Press Awn.’. MELBOURNE, Feb. 21. At the wool sales there was strong general competition in all sections. Merinos were firm at lato rates. Comebacks and crossbreds in all grades showed an upward tendency, particularly coarse sorts, which reached the highest point of the season. SYDNEY, Feb. 21. At the wool sales competition was again spirited in all sections, and prices ivere firm at best late rates.