WOOL MARKET

Hokitika Guardian, 19 November 1929, Page 1

WOOL MARKET

GOOD PRICES AT NAI’IER

(By Telegraph—Per Press Association.)

NAPIER, Nov. 18

The opening wool sale of the season in Napier was held to-day when 9501 bales were submitted to a record bench of buyers, and practically all were sold, under the hammer. The prices realised were in advance of those ruling at Wellington last week. However, it is pointed out that the improvement was due ’ principally to the ’better quality and get-up of the Hawke’s Bay clip compared with the Wellington wool, and that the prices do not indicate a rise in the market. Nevertheless, pieces and bellies did show an appreciable advance on Wellington rates, apart from the effect of better quality. There was almost a complete lack of demand for fine wools, the competition being limited to a few buyers whose prices were a long way down on last season’s.

One Southdown clip brought 23 pence last season, but only 12£d was offered for it to-day. Hawke’s Bay wool is mainly of the’ coarser types, for which the demand was good. Wool suitable for Bradford does not come sfonvard in large quantities at this time of the year, and in consequence the buyers on behalf of that centre were not active. The competition among the others was keen, and probably more general than at Wellington. Australia, the Continent and Russia were the principal buyers of crossbred wool, the French in particular operating freely. The official range of prices is not available tonight.