COMING WOOL SEASON

Evening Post, Volume CXXVI, Issue 82, 4 October 1938, Page 14

COMING WOOL SEASON

ON EVE OF SHEARING

PRODUCTION AMD PRICES

New Zealand will resume its woolselling season at Auckland on November 26. Quantities to be offered at the sales throughout the season have not yet been allocated by the New Zealand Wool Committee, a body representing growers, buyers, and brokers, all directly interested in the industry. Shearing has begun in some of the northernmost parts of the North Island, and vqII presently be in hand in the Hawke's Bay and Wellington areas. ] Reports of the condition of the clip in the Manawatu district are not wholly satisfactory, but from the Wairarapa they are most encouraging; in fact, "the clip is one of the best" is the description applied to it by a competent observer who has spent some weeks travelling from station to sta-j tion in the Wairarapa and Southern Hawke's Bay. Those in closest touch with the wool market are usually the most reluctant to prophesy how it is likely to go, but from the results of the recent sales in London, it would seem that average crossbred wools should realise prices quite as good if not a little better than the level of last season's Dominion sales. Comparison of the closing rates of the London July and September series of sales for crossbred wools give some colour to this view. The average London- prices were as follows: — Sept. July. Pence Pence lb. lb. Crossbred 48-50's 10% 10 Crossbred 46-48's 10% 9%, Crossbred 44-46's 10% lO'/i Crossbred 40-44's 10* i 9% There was room for improvement in the values of the finer wools, but. as will be seen, the stronger descriptions of wool showed in September a. decided improvement on values ruling for them at the end of the July series. The next series of London sales are scheduled to begin on November 22, or before the New Zealand series begin in Auckland on November 26, with Napier following on December 2 and Wellington on December 7. Some idea of the present aspect of the wool market may be obtained from advices received by Wright, Stephenson and Co. and Abraham and Williams, Ltd., by cable today, from their Bradford agents regarding the tops market, reading as follows: —"Merino tops are id to Id down and crossbred tops are £d down owing to the protective prices having been withdrawn. There is a fair amount of inquiry, but only a little business is passing."* Get-up and preparation of the clip generally for the coming sales in New Zealand will be more important than ever before in view of the present sensitive condition of the wool market; and the political situation in Europe at the present time, although temporarily improved, should not be left wholly out of account.