WANGANUI WOOL SALE

Wanganui Chronicle, Volume LXXXIII, Issue 20005, 23 November 1927, Page 8

WANGANUI WOOL SALE

After only “nibbling” at the Wellington and Napier sales, Bradford buyers came strongly into the market at yesterday’s Wanganui wool sale and, as Continental buyers continued their activity, the result was a maintenance of the advance with which the season opened. The result was naturally extremely gratifying to those who were able to get their elips in to the first local sale of the season and those whose wool is to follow later will equally naturally trust that the demand will continue.

There are indications that, while a slight recession of prices later on need cause no surprise, there is every possibility that the present active demand will continue. Those closely in touch with the position confirm the reports that stocks at the present are low. In fact, it is said by one of them that there is so little wool in reserve that much of that now being bought will go practically direct from the sales to the mills, and as Continental mills are now particularly busy and have plenty of orders the time when supply will overtake demand is still in the future.

If this estimate of the situation be correct, and reports from various quarters point to it being so, it would appear that woolgrowers need have little fear of the prospects for the present season. The first Auckland sale which follows shortly will probably prove the correctness or otherwise of the opinions above quoted and it is highly probable that the '.jriee levels reached there will more or'less rule for the remainder of the Dominion series. Summed up, the position would appear to be the same as previously forecasted in these columns- growers have practically no reason to fear any fall below last year’s level, and every reasonable expectation of an appreciation upon them.