FIRST WOOL SALE

Waikato Independent, Volume XXXIV, Issue 3237, 24 November 1934, Page 3

FIRST WOOL SALE

OFFERING AT AUCKLAND 17,000 BALES FOE AUCTION The first wool sale of the season will be commenced at Auckland on Tuesday and entries closed this week. Clips had been slow arriving, but a lastminute rush has filled the stores with wool. It is estimated that the total offering will be in the neighbourhood of 17,000 bales. The limit had been fixed at 25,000 bales. It is stated that several factors have contributed to the small offering compared with those of the past two years, the chief of which is uncertainty as to the market prospects for wool. Many farmers are holding back in the hope of a rise during the season, and, with the second sale a limited one, a large quantity of wool is likely to be placed on the market at the last auction of the season. Last year the catalogue lor the first sale closed with 23,782 bales and in 1932 a concession had to be made to extend the limit to take a tofal of 28,687 bales. It is estimated that the normal clip at this .time of the year is about 22,000 bales, this amount usually being augmented by wool carried over from the previous season. The shearing season has been a good one, with few breaks in the weather. On the other hand, lambing was late in many districts and this may have delayed shearing on a r.umber of farms.

Buyers are„.iiow arriving in Auckland. The week-end will be occupied with valuing-the clips. Three clear days are usually "needed for this work, but with the smaller offering it is probable that less time will be required this year.