WOOL PRICES SOARING

Timaru Herald, Volume XCVIII, Issue 18084, 18 November 1924, Page 9

WOOL PRICES SOARING

RECORD PRICES AT WELLINGTON .SALE. AMERICAN BUYERS OPERATING. By Tel^^raph— Association; .WELLINGTON, November 17. /; The opening .wool sale of the season was held in the Town Hall to-day. The catalogue comprised only 7225 bales, the general quality tyas sq high that jt has scarcely ever been excelled.. About 80 seats were occupied .by'.*' buyers, and there w,as a large attendance of the public. Copipetition was keen from the start, but it appeared to lie principally- between Bradford and United Stalfes representatives. There was a continuous and spirited fusilade. of bids, although the sale opened quietly enough, and these two markets ,absorbed the greater part of the better grade crossbreds aid. Romneys,. Buyers appeared to be generally after these wools, and were buying without apparent limits/- The long 'deferred- but welcome American competition made itseha.lefty,, and this was attributed by some ivlio can spegk with experience to-the-more settled feeling ‘in the United'States woollen manufacturing industry now ,-that the Presidential election is over, and therefore the existing tariff will remajp..-unchanged. As compared ivith rates ruling at the London sales in Coleman Street last month, prices realised to-day were well up, and as compared with prices made in Wellington last March—a high'mar-ket—-they are . fully 1 4*cl per lb better. Wool sold to-day; at £4O per bale 'all round,, a, sum which : is believed be a ..qQjiseryativp .estimate,3Jakuto*> that figure, the Turnover for wool aftpis one sale should-be in the, vicinity of ,£289,-, 000 to £290,000 in cash.' Some of ,the typical prices realised were as follows: „■ Three-quarter-bred, hoggets ’ 35jd to 303 d. . ' Merinos, only $ few bales in the and no buying orders, 28d to 29d. Half bred hoggets,. 35*d.. Crossbreds, 24d to. 26d; 27d to 28d; 29d to 30d. Necks, 27|d. (some bought for, £s T ew Zealand manufacturers). Comparisons of some actual and typical results , obtained ..bygrowers,-.last year and at this sale were as follows: November , November 1923 ~i( 1924 d. . . . d. 15 ... ... ... 26 12* ........ 2(1*.. v • 123 ... ... .... ... 24 ♦ ' • . 14* ... . • ... .29 12* -r - 26* . ... 13 ... ... .... ... 23 These show that prices were fully. 100 per cent, more than at-the sale this time fast year. The demand was.as. keen for pieces, bellies and. .lojcks- - -as for fleece wool. •: , ‘ ■ -.: