WOOL MARKET

Wairarapa Daily Times, 19 January 1932, Page 4

WOOL MARKET

AUCKLAND SALE.

VERY DISAPPOINTING.

AUCKLAND, This Day*.) . The second Auckland -wool sale of tjje season opened this morning. At noon two of the largest catalogues had not been reached but as far as it has gone the sale is exceedingly disappointing. It appears that more than 50 per cent, of the total offering of 25,000 bales will be passed in. Prices may be on a par with the Auckland November level, except pieces and bellies, which may be lower. The wool is poorer in quality than at the November sale. There was a large bench of buyers, representing all the chief wool ■consuming centres, but it was soon evident that their reserves were rigidly Lot after lot failed to realise even tlitfJy low reserves put on them. Bidding was keen enough at times but buyers’ ideas were, from growers’ viewpoint, simply impossible. Fine wools were in fair request but ordinary crossbreds Were not wanted, except at bargai nprices. The. Auckland clip is almost solely crossbred, with coarse grades predominating. The competition of Dominion buyers was noticeable when halfbreds and other fine wools were submitted.

SYDNEY SALES. STRONG COMPETITION. SYDNEY, Monday. At the wool sales to-day the offerings totalled 10,019 bales, of which 9536 were sold at auction, also 18S8 privately. There was exceptionally strong competition, and the market was very firm at last week’s rates for all descriptions. Greasy Merino brought up to 173 d. _j The average prices of the wool auctioned last week was £ll/1/11 per bale, , or 8.59 d per lb. „ q,