WOOL SALES RESUME

Poverty Bay Herald, Volume LXII, Issue 18596, 5 January 1935, Page 8

WOOL SALES RESUME

WELLINGTON MONDAY NAPIER NEXT SATURDAY LIMIT NOT YET REACHED New Zealand wool sales will resume on Monday after the Christinas interruption with 'the offering of 28,000 bales at Wellington, and Napier will take up the running on Saturday. There does not seem to have been the same anxiety on the part of Poverty Bay and Hawke's Bay growers to offer wool at the. second sale as there has been in the Canterbury. Wellington, and Auckland areas. The catalogues at these centres closed well before the advertised time, but Hip Napier limit of 28,000 bales has not. been reached yet, and the catalogues must close to-night. The Napierr offering in December, after allowing for late withdrawals, was just under 15,000 bales, compared with the limit of 25,CC0 bales set by the New Zealand Wool Committee. Other December sales failed to attract sufficient wool to reach the limits, but there was an anxiety on the part of many iii Wellington and Canterbury to have their clips ottered in January, in which month last year prices rose to a- remarkable level. A STEADY ADVANCE The experience, of 12 months ago is not likely to be repeated this season, but a gradual rise has taken place in wool values at New Zealand auctions since the beginning of the season. VaTues on a crossbred basis have advanced by iJd per lb., except for the inferior sorts, which have been neglected. At the sale at Napier, prices for ileece wools wei'9 on a par with the Auckland rates and bellies and pieces were about £d per lb. dearer. The rates at Wellington were on a par with Napier, any alteration being in sellers' favor. The Christchurch

sale virtually saw the first offering of halfbreds, which sold at prices about equal to the limited offering of halfbred clips in the North Island. At Timaru, crossbreds were dearer and halfbreds id dearer than, at Christchurch. The Dunedin sale saw halfbreds rise by about jd, crossbreds being unchanged. The offerings at all sales so far held have been limited and passings have been fairly heavy. It is estimated that the clearance all-round was about 75 per cent, of the total catalogues. However, improvement has been shown in this direction. At the. Auckland sale, disposals were about 65 per cent., followed by 70 per cent, at Napier and Wellington, 80 per cent, at Christchurch. 85 per cent, at Timani, and about SO per cent, at Dunedin. THE! BARLY OFFERINGS At some of the succeeding sales, catalogue limits should be readied, easily. The second Christchurch sale will not be held until January 28, but catalogues closed last Saturday, only nine clays after the lirst sale. This is most unusual and ihe advertised date for closing was January 21. The allocation for the sale is 25,000 bales, but it is estimated that there :ire already in store about 35,000 bales. This is due to the very favorable weather for shearing and to the belief i:i some quarters that prices at the second sale will show an advance. For the second Auckland sale, on January 22, catalogues are already filled. The limit fixed is 25,000 bales. The Wellington catalogue of 28.000 bales closed before the holidays. The offerings at the pre-Cliristmas sales during the past two years are shown below, together with the 1934 allocations:

The above figures do- not lake withdrawals into account; for instance, the Napier catalogue of 17,297 bales was reduced by withdrawals to 14.968 bales just prior ;o tin l sale.

TIMARU SALE TOTAL CHEQUE £83,008 (Per Press Association.) TIMARU, last night. At the Timaru wool sale in December, 8417 hales were offered and 8067 bales sold, the total value being £83,008. The average price per lb. worked out at 7.317 d. and per hale £lO 5s lOd. The total cheque for the, first sale of the 1933 season was £193,866, the average price, per bale then being £lB 2s 9d.

Al loon (ion 1937, 1931 1934 First sains Bales Bales Hales Auckland .. 23.818 17.781 25.000 Napier .. 23.677 17.297 25,000 Wellington .. 30,203 16.024- 26.000 Christeluu'cli .. 24.935 .18.612 05,000 Tiniaru .. 10.202 8,386 20,000 Dunedin .. 29.300 .16.370 25.000