WOOL PRICES HOLD

Taranaki Daily News, 5 March 1935, Page 7

WOOL PRICES HOLD

SURPRISE AT INVERCARGILL.

SOME BETTER THAN RESERVES.

By Telegraph—Press Association. Invercargill, Last Night.

Wool prices having shown a downward tendency since the first sale of the Invercargill series on February 1 it was anticipated by those most interested that values ruling at the second auction, which was held in the Civic Theatre this evening, would be reduced in comparison. There was, however, in the main only a slight easing upon February prices while in some grades prices were actually better.

To-night’s offerings totalled 15,954 bales. Brokers and growers alike seemed fairly well satisfied with the market strength, and though some growers withheld their clips in anticipation of a general improvement next season there were several instances where prices realised were better than the reserve placed upon the wool.

Even in the opening stages of the auction the bidding was generally keen and animated, and some idea of the demand may be gauged from the fact that there were only approximately 150 passings in the first catalogue of 1524 bales. As the sale progressed values showed very little Change from those ruling at the start, and while coarser wools attracted the greatest amount of attention spirited bidding was. registered for some of the finer wools. The top price was IIPAd obtained for two different lots. (Bradford lifted the major portion of the offering. The Continent and Japan secured a few lines, while local mills obtained their quota.