WOOL MORE STABLE.

Taranaki Daily News, 16 December 1924, Page 7

WOOL MORE STABLE.

SALES AT WELLINGTON DECLINE ON NOVEMBER ItATEi BRADFORD THE BEST BUYER. By Telegraph—Press Association. Wellington, Last -\ight. The second Wellb.gton wool sale c'osed to-day. Although price® dropped by 2d to 2£d all round in comparison wifi the November sale, most of the buyers admit that the prices paid last monte, were above the levei of economic stability and that this rime they were very much restricted in their limits. On the whole the tone was a healthy one, and if the range of price® established yesterday is continue 1 throughout the season, this must prove eminently satisfactory to wool growers as a whole.

The November sales showed a rise of from 3d to 6d on March prices, and the fall yesterday d*.es not represent an average anything bke one-half this increment. Despite the high price®, about 20 per cent, of the growers withdrew their catalogues, later endeavouring to effect sales with individual buyer®. This, however, pioved somewhat difficult. Bradford was again considerably the best buyer, with the Continent buying here and there and acting with a considerable amount of caution. America was not prepared t-i give anything like the November prices, and was only seeking wool of good character.

N.Z. LOAN & MERCANTILE REPORT.

(By Wire—Special to News.) Wellington, Last Night. The New Zealand Loan and Mercan* tile Agency Company, Ltd., report: The second Wellington wool sale of the season commenced on Saturday evening and concluded this afternoon. Catalogues totalling 35,000 bales ; were offered to a very large bench of buyers. It AvaS evident from the cbmniencement of the sale ..that the reserves were in many instances above what buyers were prepared to pay. Consequently many lots were passed in. Sensational prices were paid at the first Wellington sale, and at subsequent sales held throughout the North Island* and at Christchurch prices rose even higher, but at Napier on December 10 a setback was experienced, the market receding about twopence per pound below the first Wellington sale. Before the Napier sale took place many valuations for the Wellington sale had been sent out. to growers. After the valuations of the Napier sale became known the Wellington valuations had to ba amended. Many growers were quite prepared to meet the market, but others held more optimistic views, resulting in the passing in of numerous lots.

The prices paid at the last sale are quite good. A fair proportion of the wool offered in the December sale carried more condition and was not so attractive as that offered in November. America operated to a small extent, but the bulk of the purchases were for Bradford, with a fair proportion for the Continent. Bidding was slow and inclined to be erratic, but was well distributed. Pieces and bellies sold at good rates. SUPER LINES EASIER By Telegraph.—P*_-ss Arsn.—Copynufht. Received Dec. 16, 1.20 a.m. Sydney, Dec. ]5.

At the wool sales the market for all good fleece and pieces was very firm under the keenest competition, but extra super* linpb failed to reach the extreme point of recent rates. Crossbreds were inclified to ease. Greasy merino realised TTld.