WOOL MARKET.

Taranaki Herald, Volume LXVIII, Issue 16895, 17 November 1920, Page 6

WOOL MARKET.

AUSTRALIAN SALES SLOW.

By Telegraph—Press Assn.—Copyright.

SYDNEY, Nov. 16. The wool sales showed lessened competition, even for super sorts, and generally, a weaker market, hut a new record was established, a line of greasy touching 44d. MELBOURNE, Nov. 16. At the second of the series of wool sales competition was disappointing, American particularly showing a fallingoff, wools suitable for this market dedinining 10 to 50 per cent, on the opening sales. Top-making qualities declined 15 per cent., and faulties and inferiors were almost unsaleable. There were heavy withdrawals. Greasy touched 42d. After the auction, however, a good deal of wool was cleared at more satisfactory figures.—Aus.N.Z. Cable Assn. x LONDON SALES. LONDON, Nov. 15. At the London wool sales the Government is meeting the market a little in merinos. There is a poor show of crossbreds, and ’heavy withdrawals. Medium and low qualities arc unchanged, and others are unchanged. Aus.-N.Z. Cable Assn. AUCTION AT. CHRISTCHURCH. BUSINESS DONE, AFTERWARDS. Per Press Association. ' CHRISTCHURCH, Nov. 16. It is pointed out (that at yesterday’s wool sales there were enough buyers present to assimilate five times the catalogue with little concern, but their 1 policy was obviously one of waiting, with a probability that had any particular buyer, operated freely bo' would iltavo had competition to contend with.A‘s a matter of fact brokers to-day sold quite an amount of the passed in catalogue at lid to 2d a lb. more than the price bid- at the auction, most of-the sales being to local buyers, but occasional lots to outside representatives. The fact that sales have taken place at 15 to 20 per cent, in advance of the auction offers would seem to suggest that Monday’s pripes about touched bedrock. It is known that several of the very full bench of buyers possess large purchasing powers, and it is believed that when they get into touch with their principals as to the position here their limit will be advanced sufficiently to allow them, to maintain their “sit tight” attitude, particularly in regard to the .better grades of wool.