WOOL IN SYDNEY

Evening Post, Volume CXXVI, Issue 84, 6 October 1938, Page 12

WOOL IN SYDNEY

COMPETITION SUSTAINED

(By ielegrapb—Press Apsd.—Copyright.)

SYDNEY, August 5. Of the offering of 12.574 bales at today's wool sales, 12,423 were sold, also 1251 privately. Competition was sustained from all sections of the market and there were satisfactory clearances at very full late rates. ' Greasy merino made to 174 d. WELLINGTON WOOL, SALES. The first wool sale. of the 1938,39 season will be held on December 7 next. Levin and Co., in reviewing last season, • remark that .there was ''good competition at the local sales, and there were large offerings and very good clearances." Dominion sales for 1937-38 totalled 629,671 bales of the gross value of £9,027,905, at an average of 10.04 d per lb. Wellington's sales totalled 109,088 bales. At a conference between the New Zealand Sheepowners' Federation, the New Zealand Farmers' Union, the New Zealand Wool Committee, and the Woolbuyers' Association it was decided that not more than 24,000 bales be catalogued at any. one centre. To carry this into effect the 1938-39 roster may be extended so as to finish the New Zealand sales about' a month later. "This has been done entirely in the interests of growers with a view of preventing the overloading of the market at any centre," Levin and Co. explain, and they trust growers -will appreciate this fact and fall in willingly with any delay in marketing of wool which may occur. Growers are urged to take special note of the regulations governing "closing dates" for wool sales. Growers are reminded that fluctuations occur at any moment in the wool market, even half-way through a sale or a catalogue. "Hard and fast reserves only hamper a sale, and do not make the 'wool sell any better and may prevent a good sale."