SYDNEY WOOL SALES

Poverty Bay Herald, Volume LXIII, Issue 19042, 16 June 1936, Page 5

SYDNEY WOOL SALES

CLEARING-UP SERIES

JAPS. FOLLOW MARKET

SYDNEY, June 15. - The Sydney wool sales were resumed and 7130 bales were offered and '5130 were sold. Sales of "3584 bales were also effected privately.

There was good competition for all well-grown sound descriptions, but values were 5 per cent below May closing rates. Average wools were 1\ per cent to 10 per cent lower, while dusty and inferior lines were also lower. Skirtings were 10 per cent and at times Vl\ per cent lower. Crutchings and locks sold remarkably well and showed little change. -

Competition was mainly, from the Continent and Yorkshire sections and local manufacturers. The Japanese did not bid.

It is explained that the present auction represents only a clearing-up series of sales. The Japanese were present, and. followed the market as keenly as though they had beeh buying- ... ,; .:'...

They would have taken a large proportion of to-day's offerings .which suited their requirements, but, Haying already bought heavily this season, they are expected to refrain from buying for the present.

More importance is attached to the Japanese attitude at the Brisbane sales next week, when the new season's wools will be offered.

A message from Tokio states it is estimated the mills at present have stocks of merino aggregating 400,000 bales, w T hieh would be sufficient until October 31 or, if manufacturing is curtailed by 30 per cent, until December 31. "