GOOD COMPETITION

Rotorua Morning Post, Volume 3, Issue 697, 24 November 1933, Page 6

GOOD COMPETITION

EXPECTATIONS OF STRENGTH OF MARKET BEING SUSTAINED DEMAND FOR MERINOS • London, Nov. 22. At the wool saies 9254 bales were offered, including 3194 bales of New Zealand. Approximately 8833 bales were sold. There was a good selection of Merinos and crossbreds. Home and continental competition was well sustained, and the bulk of the offerings'was sold at full opening rates. New Zealand clips: Greasy halfbred, Arden, top price, 17id; average, 16 5-8d. The strength of the saies slightly exceeded the most favourable anticipations. Germany fully supported Yorkshire's lead. France and Belgium were less active. There are indications that the strength will be maintained, though the American situation causes uncertainty. The Yorkshire Observer says the consumption of Merinos in the West Riding is terriffic, being the leading factor in the absorbtion of the abnormal Australian and South African clips. Bradford leads in the present upward movement, which German buyers have strengthened. >- The new season's. South African wools are arriving slowly. It is over early to estimate the clip, but in conjunction with Australia, the trade anticipates a decline of 700,000 bales. Recent wool production has been absorbed in a remarkable fashion and the higher Merino prices will rapidly clear the New Zealand surplus.