THE WOOL SALES.

Shannon News, 23 January 1925, Page 3

THE WOOL SALES.

WOOL COMMITTEE REAPPOINTED. REDUCTION OF CATALOGUES Many farmers will no doubt be disappointed owing to the fact that the wool committee is somewhat restricting the number of bales to be included in the various catalogues. At the Christehurch sale, lor instance, to be held on January sth, the Committee has definitely decided that not more than 25,000 bales shall be offered on that occasion, although the number of bales actually in store at closing date of catalogues numbered 37„000. The number of bales for the Wellington sale on January 19, has been fixed at 25,000, which is practically 10,000 bales less than at the December sale, and a similar reduction has ftaken place at Napier and other districts. The unenviable task of the Wool Committee will, of course, meet with unstinted criticism from every quarter. This will particularly be the case if the value should recede further. The argument is already being brought forward by short-sighted critics and would be experts, that the largest possible quantities should be rushed into a declining market, while others maintain that the restrictions imposed by the Wool Committee are favouring the North Island at the expense of the South.

The large majority of producers, however, will, no doubt, support the contention that the qualtities at the past sales of the present season were far too heavy. The dragging nature of £he last Wellington wool sale, and the picking and choosing that was going on, will have convinced those who are in the habit of attenting these sales, that it would have been little short of disastrous to carry on on the same lines for the rest of the season. The Wool Committee, after deciding upon the offering for the January sales throughout the Dominion, issued the following statement: — '.The experience gained by the sales held during the latter part of. December makes it clear that a necessity exists for avoiding over-loading of the market for any one sale, and for spreading offerings over the period between now and the end of March. The high prices with which the season opened, naturally led growers to feel that they should make the best of these high prices, and so avoid a risk of having to accept lower values. "It was evident that the" quantities offered were proving too great, and that in consequence competition latterly was restricted and lacked eagerness.

"So far as it is possible to gauge the position, the outlook is satisfactory as regards probable selling values, and the committee feels convinced that it will be in the best interests of woolgrowers if a reasonable and proper limitation is placed on January sales. Heavy offerings would be hke'y to depress the local market nn<! weaken the competitive element, and tho physical strain upon the buyers and brokers is in itself worthy of consideration.

"It is estimated that thore arc approximately 337,000 bales remaining to be marketed during the present season. The committee arrived at the conclusion that about 140.000 bales 7onld be a sufficient quantity to put on the market during January."