WOOL PRICES HIGHER

Sun (Auckland), Volume I, Issue 245, 6 January 1928, Page 16

WOOL PRICES HIGHER

SECOND CHRISTCHURCH SALE SPIRITED BIDDING Press Association. CHRISTCHURCH, Thursday. Spirited bidding, particularly from Continental buyers, characterised the second Christchurch wool sale of the current season, which commenced this evening, when. 8,750 bales were sold. The catalogue, comprising 27,060 bales, was not up to the usual standard of a January offering, due to the broken season. A good deal of wool opened up unattractively, lacking in brightness, while more than the usual proportion was tender. . The opening of the sale indicated that a more buoyant market would be experienced than in November. From the outset bidding was decidedly more spirited and came from a wider section of buyers. Bradford houses were more in the picture, but Continental representatives again secured the heavier end of the catalogue. Local mills bought sparingly, and purchases on American account appeared to be limited. Foreign representatives set a price for scouring wools that local fellmongers could not participate in, and little of the catalogue went to them.

Values generally showed a hardening on recent Southern sales, and an advance on the Christchurch-November rates. Medium 50/56’s wools were from one halfpenny to one penny better than in November, and super about one halfpenny better. The previous high rates prevailing for pieces were fully maintained, with no more than a fractional advance. The bulk of the halfbred and Corriedale wool averaged from 20Jd to 22Jd, the latter price being frequently exceeded. Merino averaged from 20d to 23d, and fine crossbred, as far as the catalogue description can be followed, from 16d to 18d.

The excellent atmosphere pervading the sale may be judged from the fact that m the first catalogue of 6,300 bales only 20 were passed. The top price of the evening was 26d for Corriedale a number of cases of 25d being redded ° r b ° th halfbred apd Corrie-