THE GOLDEN FLEECE

Wanganui Chronicle, Volume LXXXIII, Issue 20012, 1 December 1927, Page 6

THE GOLDEN FLEECE

MARKET OUTLOOK PRICES SHOULD BE MAINTAINED Wanganui’s next wool sale is to be held on January 20, when a limited offering of 25.000 bales will be submitted for sale. Price is the all-important factor, but although there was gome doubt ex« pressed recently as to whether the appreciated values of the opening sales would be maintained, hopes of a continuance of prices on the present level are well .founded. It was recognised in the trade that the recent Auckland sale, with its substantial offering, would be a good test for the market, and the fact that prices kept up was very reassuring. Fine wools, in fact, brought even better prices than at Wanganui. A factor which made for the steadying of the market in Auckland was the appearance of a new Australian buyer in search of a particular class of wool, and it is generally recognised that when this occurs there is a tendency towards a general hardening of prices all round. It must not bo forgotten that New Zealand wools are in demand by certain mills whose machinery is built to deal with them, and as long as the market for their goods holds, the demand for the raw product, which is iu short supplv, must hold. A stabilising of prices at the present level will mean an increased return to the wool growers of the Dominion of about £3,000,000. T*ic wool sold at the last Wanganui sale was a small offering compared with that which will be sold at the January and February fixtures, but, nevertheless, it was worth £250,000 to the vendors—about £50,000 of which was additional money to that received last year.