BIG WOOL OFFERING

Poverty Bay Herald, Volume LIX, Issue 17945, 24 November 1932, Page 6

BIG WOOL OFFERING

NAPIER SALE PROSPECTS POSSIBILITY OF A LIMIT Substantial quantities of wool have conic to hand lor the lirst Napier wool sale of the season, to be held on December 9. According to advice received in Gisborne to-day, Napier brokers have already from 25,000 to 30,000 bales lit hand. When the wool roster for the season was drawn up, no limit was fixed for the early sales, but in view of the large entries for the Napier auction the wool committee may find it necessary to fix a limit. The catalogue was to have closed on December 1, but present indi - cations are that it will be found necessary to close it some time this week. Gisborne clips, including some of last year’s wool, will be well represented at the sale. It is impossible at present to give any approximate figure, lor a large amount of wool already sent from Gisborne to Napier is not to be offered next month. Shipments of wool have been going steadily from Gisborne to Napier, and if the catalogue is to be closed this week, as is expected, to-day’s consignments will be the last to gain inclusion. Fairly large cargoes are to be taken today. ‘ THE LONDON MARKET Prospects for the Napier sale next month do not appear as bright as they did four weeks ago. The slight decline in medium crossbreds at London yesterday was expected in the trade, as the Bradford tops market had fallen during the past four weeks. On October 20, 46’s tops were quoted at lOlkl, hut the quotation fell a week later to lOd, while at present they are worth only 9jd. During the same time, 40’s declined from lOd to The weakening at the wool sales, therefore, was a natural result. STATIONARY PRICES WOOLBUYER’S FORECAST 'The belief that wool prices would ho much the same as they were last year was expressed by Air. J. A. Beau rang, who. representing the firm of woolbuyers of Kieglinger and F’ernou, arrived in Auckland by Hie steamer Mara in:i for the New Zealand season. Air. Beanrang said that he did not see any factors which could make prices rise.

“Speaking personally as an individual I would like to see the wool prices go up, for T work under commission rates,’’ Air, Beaurarig said, “hut I don’t think they will.”

Hi has just come from Australia, and said prospects there did not seem indicative of a rise. The demand for wool was the same, he said. Its use as a commodity was not being superseded so that just as much was needed to meet tin' world’s requirements, but there was no money to buy it. That was the lon'g and short of it.”