TO-DAY’S SALE

Rotorua Morning Post, Volume 3, Issue 699, 27 November 1933, Page 5

TO-DAY’S SALE

(Press Assn.-

OPTIMISTIC FORECASTS OF NEW SEASON'S VALUES EIGHTPENCE TO NINEPENCE

— By Telegraph— Copyrlght).

Auckland, Saturday. Auckland, and for that matter, the whole of New Zealand, is all agog for the Monday wool sale for which 23,782 bales are catalogued. "What is wool worth? Nobody knows," was the opinion expressed by a broker this morning. "I went around the stores to-day in company with a grower who has 94 bales listed and everywhere the tone was most optimistic. "The valuation in his case was ninepence for the main clip, and tenpence for hoggets, but these figures are based on the Bradford tops market. "As vagaries of exchange make it impossible to adopt any other basis, this grower intends to sit on the valuation and the wool will be passed in if the above reserves are not realised. He is confident, however, of quitting." One broker's valuer remarlced: "It

is only a question of how much above those figures you will get." He laughingly offer ed eightpence for a whole clip and said it was only a shame what profit he would make if the. grower would quit now. There is no indication of what the United States of America is doing, but if shrewd consumers had accumulated funds in London when the dollar was extremely low, the exchange rate from London to New Zealand would enable the United States to compete on its own terms against buyers from other countries. The only thing worrying growers this morning was the fear that anything would complicate the London exchange before Monday's sale, but of course this is not even a contingency after tbe provisions of the budget in this respect.