AUCKLAND WOOL SALE TODAY

Southland Times, Issue 23676, 26 November 1938, Page 8

AUCKLAND WOOL SALE TODAY

Indication Of New Values

FALL NOT EXPECTED BY BROKER ATTITUDE OF JAPANESE BUYERS NOT KNOWN (Special to The Times) AUCKLAND, November 25. The interest of wool growers throughout New Zealand will be centred on the first sale of the 1938-39 selling season, which will begin in the Auckland Town Hall tomorrow, when 24,181 bales will be offered.. After the first few catalogues have come under the hammer growers will be given some indication of the new standard of values which is set every year for the Dominion .clip by the first Auckland sale. No accurate predictions can be made about the. likely range of values, but the chairman of the Auckland Brokers’ Association has expressed the opinion that prices will be better than, or at least as good as, the opening Auckland sale last year. The bulk of the catalogue is hogget and dry sheep and with crossbreds of different counts is typical of the first Auckland sale. The clips from North Auckland and Waiheke are clean and of good staple. The King Country clips generally are clean and bright, but not so heap' because of the absence of yolk. The effects of the facial eczema outbreak are seen in the Waikato wool, most of which is dry, hard and light. Special classes have been arranged to provide for affected clips. Buyers have arrived in full force and represent all the important purchasing countries, although the presence of buyers does not necessarily mean that they will bperate. Competition is expected to be fairly widespread. Most, of the support will probably come from the Continent. Bradford should be another mainstay to the market, with local mills operating for suitable lines. It is generally admitted that the success or failure of the sale will depend to a large extent on the parts taken by America and Japan. Both countries held off last season and their added competition would be of inestimable benefit to growers. The war in China and the resultant restriction in Japanese credits are scarcely conducive to spirited bidding from representatives of that country, although Japan has been operating reasonably well at the Sydney auctions. Japan must remain the enigma of the market. It was through her competition mainly that values reached almost boom levels in 1936-37 and her lack of bidding last season was largely responsible for the reduced values.

PROSPECTS THOUGHT PROMISING WOOL BUYER BACK FROM OVERSEAS (United Press Association) «. AUCKLAND, November 25. Among the buyers at tomorrow s wool sale will be Mr Herbert Hill, of Christchurch, president of the New. Zealand Wool Buyers’ Association, who returned by the Mariposa today from Britain, the Continuent and the United States. He told an interviewer that although slightly out of touch with conditions since he began his homeward journey, he considered the prospects for the Dominion clip this season prormsing. He thought there was little likelihood of any extreme advances, but expected the values to near those of last season. He said there were no notable reactions in Britain and other countries to the armament programmes in the demand for wool.