CHRISTCHURCH WOOL SALE

Dominion, Volume 21, Issue 112, 9 February 1928, Page 12

CHRISTCHURCH WOOL SALE

VERY KEEN COMPETITION

PENNY RISE ON TIMARU RATES

By Telegraph.—press association

Christchurch, February 8.

The third Christchurch wool sale ot the season commenced to-night, when 10,000 bales of a catalogue of 21,000 were disposed of. The sale will be resumed in the morning. Back-country clips were well represented in the offering. The wool opened up moderately, but there was an unusual proportion tender and a fair amount dusty and seedy. There was a full bench of buyers representing home, Continental, Australian, American, and New Zealand houses.

From the outset it was obvious that a very keen market was to ensue. Bidding was in broadsides, and some operators apparently were not very much embarrassed with limits. All the buying points were in the competition, Continental and Home buyers securing the bulk. As an indication of the keenness of the market, only four bales were passed in the first catalogue of 2000 odd. The passings, indeed, in the 10,000 bales disposed of last night were under 25 bales.

Compared with the Christchurch sale in January, various classes of wool were up by 2d. to 3d. a pound, and on the . Timaru sale of last week there was a general appreciation of a penny, with prices showing an exceptionally strong tone. The top price of the night was 27-|d., secured for the first classing of two different clips. Several other prices ranged from 26Jd. to 27|d. Halfbred pieces touched 23jd. and Corriedale fleece 26{d. Lots described as threequarter and coarsebred, made respectively 24|d. and 22|d. The average price of halfbred throughout the evening was 22d. to 25d.; Corriedale, 22d. to 24id., and crossbred, 16d. to 18|d. WOOL SALES HARDENING TENDENCY AT MELBOURNE. (Rec. February 8, 10.55 p.m.) Melbourne, February 8. At the wool sales, competition was keen, particularly for come-backs and cross-breds, with a hardening tendency under increasing demand for America, Japan and Russia. PRICES' AT BRISBANE VERY FIRM. (Rec. February 8, 10.55 p.m.) Brisbane, February 8. The fourth series of wool sales commenced to-day. There was a spirited demand for; all descriptions and prices were- very firm at the highest point of the current season. Scoured touched 50d., and greasy merino 30)d.