KEENEST WOOL SALE FOR YEARS IN AUCKLAND.

Star (Christchurch), Issue 18014, 26 November 1926, Page 1

KEENEST WOOL SALE FOR YEARS IN AUCKLAND.

VALUES SHOW IMPROVEMENT ON SOUTHERN PRICES. (Special to the “ Star.’’) AUCKLAND, November 2G. Prices at the tirst Auckland wool sale yesterday showed an improvement on those realised in Wellington, Napier and Wanganui and the concluding sales last season. In the opinion of experts the sale so far has been the keenest in Auckland for many years. Of the total quantity of wool catalogued, 18.155 bales, nearly 9000 were offered and a good clearance was effected, approximately 98 per cent being disposed of. A satisfactory feature was the keen competition among buyers for practically all the lots offered and the fact that values all round showed an improvement on prices at the southern sales. It was stated by experts th't this was due largely to the fact that the Auckland clip was much better in quality than the wool submitted down south. There was a very keen Continental demand for bellies and pieces, while low crossbred wool was also the medium of keen competition.

The official range of prices for the sale will not be av liable until the conclusion, but the values realised for last night’s offerings will practically establish a standard for the whole of the catalogue. Bidding was consistently keen, without being in any way extravagant and the firm lene was maintained throughout the evening. The top price was obtained for a lot of five bales of halfbred wool from Waiheke, which realised 20fd. The same brand obtained the highest price at the corresponding saje in 1925, the price realised then being 20jd. Among the fine wools .Southdown realised from 15d to 16dd. Corriedale sold up to 17d early in the evening, and there were sever.: 1 lines of halfbred disposed of at 15d. Fine crossbred made from 12d to 14d, medium from lid to 13d and coarse from 10d- to 12d. Low and inferior crossbred realised from 9d to lOd. A small offering of lambs’ wool of medium quality brought up to 12d. Brokers expressed satisfaction with the result of the sale, particularly in view of the fact that at the opening sales in London this week there w s a .slight easing tendency in prices. It was stated that the values realised last evening were at least Id a lb in advance of the latest London quotations. The sale attrreted the largest bench ever assembled at a sale in Auckland. Old firms from Bradford, America and the Continent that had been represented for many years, were supplemented by quite a number of new ones, all obviously keen to secure a sh"re of the offering, when the lots were suitable to their requirements.

Vigorous bidding began at the very outset and competition remained good throughout. Purchase? were well distributed over all sections of the rSiarket. Bradford put forward a strong demand fpr many lines, but the Continent was more active than,at southern sales and lifted much of the wool, in which it was interested. It was quite evident that a number of buyers were going to their limits, which were reasonable, having regard to the present conditions. The sale, so far as Bradford w*as concerned. reflected the state of opinion on the British coal strike, prices being steady, but improving. New Zealand manufacturers bought fairly freely in the higher grades. American buyers were inactive.