SEASON’S STRONG FINISH

Taranaki Daily News, 13 April 1935, Page 9

SEASON’S STRONG FINISH

WELLINGTON WOOL SALE GENERAL ADVANCE IN THE PRICE. VIGOROUS AND EXCITED BIDDING. GRIM DETERMINATION OF BUYERS. By Telegraph—Press Association. Wellington, Last Night. A strong finish to an unsatisfactory season was made at the fifth and final wool sale at Wellington to-day, this being also the last of the Dominion series of auctions for 1934-35. Had the market been as strong and competition as keen at previous sales this season as it was to-day the results to all concerned on the selling side would have been much more satisfactory. Not since the memorable Wellington sale of January of last year has such vigorous and excited competition been seen. Many buyers appeared to have very elastic limits and to, be grimly determined to obtain supplies of wool. At times there was a perfect “drum fire” of bidding, and the physical effort involved in almost frenzied gestures and shouting was a visible strain on certain constant and eager buyers. The offering was small, the quantity catalogued being just over 9000 bales, compared with 16,000 for the corresponding sale last year. Very little Merino or halfbred wools were offering, the bulk of the catalogues comprising largely topmaking crossbreds. There was a fully representative bench of buyers. The sale went with a swing from first to last and was till over in two hours. French interests were the main driving force and made the pace hot throughout, their representatives lifting a large quantity. Bradford buyers were not to be denied, however. They operated extensively with very keen bidding. Other Continental interests were very active. Orders for Japan were also fillqd, and some buying for Germany appeared to be done. The general impression appeared to be that the Continental buyers had to get the wool while “the going was good," especially in view of the uncertainty surrounding several of the gold bloc currencies.

Prices. generally. were at tfie highest point of the 1934-35 season. One broker said crossbreds were a farthing and halfbreds a halfpenny ahead of the prices at Dunedin last Monday. Compared with the March sale at Wellington prices showed the following advances: Extra fine crossbreds, Id to lid; fine, medium and coarse crossbreds, |d to Id; low crossbreds id; hoggets, Id; bellies and pieces id. to l|d; crutchings, par to |d; locks, |d. Passings, chiefly due to the high limits set by growers, were comparatively few, and a good clearance was made at auction.