WOOL MARKET

Manawatu Standard, Volume LVIII, Issue 53, 31 January 1938, Page 7

WOOL MARKET

CHRISTCHURCH AUCTION, EASING IN VALUES. Per Press Association. CHRISTCHURCH, Jan. 31. Fears that the upward trend of the December sales would not be maintained here were realised at the second Christchurch wool sale held today, when there was a sharp easing in values for all classes of wool. A feature of the sale was the abnormal number of passings, probably 30 per cenij. or more of the offering in the first two catalogues being bid for at under the owners’ reserves. In sharp contrast to the animated tone of the first Christchurch sale, bidding was slow and restricted’ all buyers reflecting the depressed state of the market. Continental buying dominated- the sale, but local mills were well to the front. Bradford was quiet. It was estimated that, on the first two catalogues, fine wool was as much as 2d per lb cheaper than in December, with crossbreds easier than in December, but Jd per lb better than the rates at the second Auckland sale last week. The offering totalled 30,103 bales, comprising mainly ewe clips from the plains, with crossbreds from the Chatham Islands and Banks Peninsula. Owing to the broken growing season the wool was not in the ’usual high condition associated with the second Christchurch sale, yolk stain marking many of the clips. Often whole clips would be passed, comprising 50 or more bales, and the buyers became restive at the unceasing sequence of passings for selected lines. However, Id bids were frequent, but these were restricted to one or two buyers only. Fine wools suffered more in comparison with the coarser sorts, having an erratic sale. One of the best sales of the morning was the Lammermoore Corriedale offering, ewe tops realising 18|d, seconds 17d, the necks and pieces 16£d. and pieces 12Jd.