FIRST WOOL SALE ON SATURDAY

Hawke's Bay Herald-Tribune, Volume 81, Issue 51, 23 November 1937, Page 4

FIRST WOOL SALE ON SATURDAY

Our Own Correspondent.)

• *4^+-- - Final Freparations at Auckland LlMIT EXTENDED

(From

AUCKLAND, Last Night. Final preparations aTe now being made for tlie first of the 1937-38 seties of Dominion wool saies, to be held at Auckland on Saturday. The catalogac of 25,000 bales was filled about 10 days ago, and, as there will be no increase in allocation, all wool which has come into store since then will be held over nntil the seeord Auckland sale on Jauuary 24. Brokers estimate that already between 8000 and 10,300 bales have been withheld. Brokers express satisfaction that the iimit for the first sale is larger than last season, for though there was no carry-over the spell of fine weather has been so suitable for shearing that wool has been pouring into the stores for the past month. The allocation • last year was only 21,621 bales, and in 1935 21,098 bales. Though a particularly large amount, of wool will be held out of the flrsi sale, the position is not xegarded as serious, as the allocation for the second Auckland sale has been fixed at 30,000 bales, an increase of 5000 bales ov8r the corresponding sale last year. The wool is well grown and lighter than usual, and altogether is brighter than last year's clip. The majority is good to super top-making wool and very little lambs' wool is present. There has again been a greater tend-* ency toward classing this year, and this should result in an increased return to the grower. "We can only hope for the best," said Mr B. J. Marquet, chairman of the Auckland Woolbrokers' Association. " Values at the London saies aro considerably lower, but the wool offered there was old season's. They are evidently awaiting a lead from the Dominion saies, when the new season 'a wool will he offered, and New Zealand is fortunate that it is starting the sea* son with no carry-over, and that the cOndition of the wool is good. Several Japanese buyers have arrived at Auckland for the sale, but their presene* does not necessarily mean that they will be buying. The trade agreement with Germany may assist her buying, but-it is not yet known how much she will take at this season's saies. Bradford and France should operate as usual, bnt the volume of purchases by America is doubtful. There is ample room for a drop in prices from the levels ruling last year, wliich were ueusually good."