FIRM WOOL MARKET

Evening Post, Volume CXXI, Issue 4, 6 January 1936, Page 9

FIRM WOOL MARKET

STRONG COMPETITION

BUYING WELL" SPREAD

GERMANY'S SUPPORT

. So far as the second Wellington wool iale of the season has gone today, the indications all point to a firmer market than that of the opening of the series held on December 7. The quantity of wool opened was heavy, approximately 30,500 bales.

The sale was held in the Town Hall as usual, and began promptly at 9 o'clock, the first catalogue to be submitted containing 6443 bales.

Buyers fully occupied the benches, and represented Yorkshire, France, Belgium, Germany, Japan, United States, and Canada, and Australian and New Zealand manufacturers gave valuable support to the market.

The galleries of the Town Hall were well filled, and among those occupying the front rows, catalogue and pencil in hand, were a great many wool growers, intently following the course of the market.

' Expectations of better prices than those realised in December for hogget wool were not quite fulfilled, and the returns on thees wools up to the luncheon adjournment were disappointing. The hogget wool, however, submitted at this sale was rather tender, having had a setback due to unfavourable weather.

For crossbred wools in general competition was exceedingly keen, and the market somewhat erratic when comparison was made with results of the December sale held in this centre. For good useful crossbreds there was an advance of a farthing to a halfpenny per pound on prices paid for such wools in December, but in some exceptional cases up to a penny per pound more was realised.

Halfbred wools held their own and sold at about par or a shade above values ruling at the December sales. For fine wools corresponding to those offered at the Dunedin sale held just before Christmas it was the opinion of those in touch with the market that such wools sold today at quite up to Dunedin price levels.

The Continent and Japan were particuarly keen competitors for crossbreds, but Bradford was comparatively quiet. Demand for the United States was good and Canada was keenly interested. • Germany was buying a fair weight of wool and its support to the market was appreciable.

New Zealand manufacturers paid excellent prices for wools suitable for their requirements and Australia was ''in the picture." Local scourers' took a fair weight of wool.

.-.. Prices for pieces and bellies were variable but on the average were quite up to Wellington values in December.

. Further detailed information of the sale will be found in comments made by individual brokers, appearing on oage 14.