KEEN COMPETITION

Manawatu Standard, Volume LVIII, Issue 48, 25 January 1938, Page 2

KEEN COMPETITION

AUCKLAND WOOL SALE. OFFICIAL REPORT. Per Press Association. AUCKLAND, Jan. 24. The official report of the wool sale to-day states that 90 per cent, of the wool was sold at auction, competition i being keen within restricted limits. The Continent and Bradford wore the principal buyers, America and , Japan not operating. The wool opened m good average condition, but was inclined to be a •shade finer and not so well grown as last season, coarse crossbreds prevailing, of which a limited quantity; elicited keen competition and sold at relatively higher prices than finer short wools. Prices on the average were on a par with the sale immediately preceding. Compared with the Auckland first sale in November prices for hogget wools ranged -Jd to Id higher, while prices for ordinary crossbreds were in sellers’ favour, the difference in the condition of the wool ■ having been taken into consideration. As the wool sale progressed, the trend disclosed in the first catalogue was maintained with a clearance qt over 80 per cent at prices approximately 3d per lb above those ruling at Wanganui last week. This is attributed to the fact that Bradford iq buying more freely. In the earliest catalogues no very high prices were realised, lialfbreds running from 12d to 14d; lambs’ wool, 103 d to 13d ; ordinary fleece wool, 83d to lid; bellies, pieces and crutchings, 63d to 83d. A leading wool-buyer present at today’s sales dissents from the view that the prices are up 3d on the Wanganui sale. He says that prices are firm on Wanganui rates. He adds that, although Bradford is buying to-day, the bulk of the offering is still being hought by the Continent. He says that America and Japan are definitely off the buying market to-day.