FIRST WOOL SALE

Taranaki Daily News, 26 November 1934, Page 14

FIRST WOOL SALE

OFFERING UNDER THE LIMIT.

ESTIMATE OF 17,000 BALES.

The catalogue for the first Auckland wool sale, to be held on Tuesday, closed on Thursday. Until a fortnight ago clips had come in very slowly, but the past few days have seen a steady stream of wool into the stores. Although the final figures are not’known it is estimated that the total offering will be in the neighbourhood of 17,000 bales. The limit had been fixed at 25,000 bales. Several factors have contributed to the small offering compared with those of the pest two years, the chief of which is uncertainty as to the market prospects for wool. Many farmers are holding back In the hope of a rise during the season, and, with the second sale a limited one. a large quantity of wool is likely to be placed on the market at the last auction of the season. Last yeas the catalogue for the first sale closed with 23,782 bales and in 1932 a concession had to be made to extend the limit to take a total of 28,687 balesIt is estimated that the normal clip at this time of the year is about 22,000 bales, this amount usually being augmented by wool carried over from the previous season. The shearing season has been a good one, with few breaks in the weather. On the other hand, lambing was late in many districts and this may have delayed shearing on number cf farm®