FIRST NAPIER WOOL SALE

Hawke's Bay Herald-Tribune, Volume 81, Issue 59, 2 December 1937, Page 4

FIRST NAPIER WOOL SALE

How Will Values Compare with Auckland? A REDUCEP ENTRY The first Napier wool sale of th"/| 1937-38 seasop wiU cpmm«uce in ttio Drill Hall, at 9 o'clock to-morrow morning, when the N.Z. Lpan and Mercan* tile will open the selling. A good attendance of buyers is expected. The recent sale in Auckland was a disapppintment tp grq.yers who, thpugh expeeting an easing on last season 's prices, were not prepared for the eevere drop which was experieneed. Apparently growers in the Auckland district were of thp samg opinion and, in con- ; gequence, puly about 30 per cent pf the offering was spid in the sale ropm. 1't now remains tp b§ seen whether the Auckland prices are established as & basi§ fer the rest pf the Dqminion saies and to what extent growers in this district are prepared to meet the price3 rujing to-day. Jt would appear that fieece wooja are definitely down 4d. to 5d. on last yegr 's prices, and this, together with thp deeline jn the pumber of bales sent forward by growers, is gping to be se verely felt by all, Frpm reliable sourees the information is gained that there wiU probably be 20,000 fewer bales of wopl offered this year than last year, acpountpd for by the bad autumn e?iperienced throughout the Hawke's Bay district, Many of the dips catalogued for tomprrpw 's sale are definitely down, so far as tbe number of bales is concerned" by 20 per cent. on last year. This is one ef the reasons for the smaller offering to be plaeed before thp buyers tQ= morrpw, Of course, the lower p?iee§ have also had thejr effect, as brokers stores are nndoubtedly bQldlag ?npr§ wool than the alloeation of 28,000 bales giyen this district, but ffiasy growers .are prepared to take the risk of holding their wool for later saies, hpping that cpnfidenoe may b§ restored«" • ' It is reported that the demand in Auckland was principally from thp Gontinent, Bradford being satisfied to lpok on. H°wever, should Bradford .enter the market here, it seems reasonable te expect then that prices should hardpn. There seems no do'ubt thaf. tbe war in the East and tbe present position of tbe 'stock and share market are disturbing influences on wool pnccs tp-day. So far as tbe offering fior to-mor-Tpw's sale is generally cpneernpd, it is definitdlv not up to tbe standard ex? peeted at the first sale last year. This, top, is acconnted for by the dry autumn, thp wool not showing the growtli thpt would have been pxpected under fiifferent eircumptauces, The hogget wopl, whieh is usually outstanding at thip sale, is disappointing, being tender and not so well grqwn %s usugl, There ip also a prevalenee of burr, which will. pf course, detract from the value as compared with f??e wo°ls>