AUCKLAND WOOL SALE.

Taranaki Daily News, 29 November 1934, Page 4

AUCKLAND WOOL SALE.

To say that the results of the Auckland wool sale were disappointing is to put the position very mildly. It is not surprising that many of the clips were withdrawn from sale, for on all available information, including prices obtainable at the most recent sales in London and in Australia, woolgrowers had every reason to expect much better prices than those offered on Tuesday at Auckland. With 40 per cent, of the holdings withdrawn from sale comparison between the gross returns of this week’s auction and last year’s November sale is misleading, but the fact that less than a third of the money will be available for circulation in the Auckland province this year as the proceeds of the first wool sale is serious enough to cause considerable anxiety. If the experience of Australia is to be followed in New Zealand the withdrawal of offerings at Tuesday’s sale may have been sound judgment, for prices in the Commonwealth have improved in later sales. It is perfectly clear, however, that the demand for the coarser wools is not nearly so buoyant as had been hoped for, and that woolgrowers must accommodate themselves to mailer returns. The position will not make the Government’s efforts to improve the financial position of the primary producer any eaier to bring to success. It should, however, stimulate the Ministry to act as promptly as circumstance will permit. There seems to have been no fault to find with the quality of the wool offered at Auckland, or with its preparation for the market Once more the only healthy demand at a sale appears to have been for the finer wools. That is an intimation woolgrowers cannot afford to disregard, and shows how important it is that every effort should be made to improve New Zealand wool and to seek avenues for its consumption so far undiscovered.