COMMERCIAL NEWS.

Hokitika Guardian, 17 November 1920, Page 1

COMMERCIAL NEWS.

TUB WOOL SALES. 810 FALL IN PRICES. (Per Press Association.) CHRISTCHURCH, Nov. 16. At the first auction sales of wool hero since the end of the commandeer there were dose on 2500 bales catalogued. There was a big representation of buyers but business was confined practically to local felhnongering prices and several local mills. Values slumped badly. On commandeer values they represented a decline of quite sixpence a pound on medium and low grade wools. Super merino sblcLrto 23 pence equal to last November appraisement value. The super halfbreds were down quite sevonpenco per pound. The crossbreds were similarly affected. The| ,(sagging in half-bred values was. duo to the local mills

I operating to only a very limited extent I Only 360 odd bales of tlie -2500 catalogued were disposed of. These consisted principally of pieces and bellies. All the buyers had sharply defined limits. The surprise of the sale was the lack of demand for wool of quality. A weak sale of crossbreds was ( anticipated, but the drop was greater than expected and competition only was forthcoming for the bestquality. Following is thj/ range of values :—Super merino to, 23d; super halfbred 12|d to 13£d; medium halfbred 10J to 12d super three-quarter bred, lOd to ill/d; medium three-quarter bred 8d to lOf-d; super crossbred 7d HJ-d medium crossbred Cd to 6Jd; first linkbred pieces 11 fd to 13d; second halfbred pieces 7d to llfd; crossbred piec >s sjd to 7Jd; lodes 2|d to 6-Jd; crutphings

3d to 7^d. AUSTRALIAN WOOL SaUF.S. SYDNFA T , November 16. The wool sales to-day showed lessened competition, even for super sorts, and there was generally a weakened market, but a new record was established for a line of greasies touching 44. MELBOURNE, Nov. 16. At the second series of wool sales, competition was disappointing. The American particularly showed a falling off. Wools suitable for this market declined from ten to fifty per cent on the opening sales. The top qualities de dined fifteen per cent. Faulties and inferior were almost unsaleable. There were hea.Vy withdrawals. Greasy touched forty two. After the auction, however, a good deal of wool was cleared at more satisfactory figures.