THE WOOL MARKET

Waikato Times, Volume 116, Issue 19452, 17 December 1934, Page 9

THE WOOL MARKET

GOOD SALE AT TIMARU.

BIDDING VERY SPIRITED.,

PRICES DISTINCTLY FIRMER

(By, Telegraph.—Press Association.)

TIMARU, Monday

The first wool sale In Timaru for the current season was held this forenoon, when 8392 bales were submitted compared with 10,895 bales at the corresponding sale last year.

An explanation of the smaller offerings Is that many growers, In view of the weaker demand In tho North Island and in Chrlstohuroh, did not send forward their clips, being oonvlnce.d that values at the next sale were unlikely to mark a further decline, but rather the reverse, In the light of the latest rates current In London.

Wool Ccame forward in good condition, being well grown and the general average being superior to that of last year, when the clips suffered somewhat on account, of the weather.

Keen Competition. Competition from a full and representative bench was keen, and more general than at any previous sale in the Dominion this season.

Prices, as compared with Christchurch last week, were distinctly firmer, half-breds being a farthing dearer and crossbred a half-penny higher. The firmer rates are attributed largely to the reaction of the five per cent, appreciation ,in London and Sydney. From the start the bidding was keen, and at times it was particularly spirited over a wider range of lots than at any previous sale this season, principally due to a more active demand from Continental operator’s.

A super lot of merino, which attracted keen competition from Dominion mills, sold up to 14gd, while New Zealand buyers took the bulk of the merino clips, being prepared to advance their quotations to secure lots.