WOOL SALES’ FUTURE
FINER OFFERINGS ARE CHEAP BUYERS’ PROFIT MARGIN Special to THE SUN DUNEDIN, Today. The future of the wool-selling season in New Zealand seems to be obscure, according to several buyers who attended the first sale at Dunedin, at which, in common with other centres of New Zealand, a general decline on last season’s rates was shown. Some buyers and brokers are optimistic for the remainder of the season, but the smallness of rates for some excellent lines is admittedly beyond explanation. One buyer here considered that the selling season should have begun at the level it has now attained. New Zealand’s opening rates are stated to have been above London .parity, and recent declines are believed to have taken place in sympathy with prices in Great Britain. Undoubtedly the feature of the selling season so far —and it was revealed definitely at. Dunedin—has been keen selling of coarse wools at high prices in comparison with finer offerings. Fine, longs have declined abruptly at some sales, and short lots have met with good sales. The ruling rates must give buying firms abroad a fair degree of profit. High rates in previous seasons made this difficult.
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Bibliographic details
Sun (Auckland), Volume III, Issue 853, 23 December 1929, Page 10
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197WOOL SALES’ FUTURE Sun (Auckland), Volume III, Issue 853, 23 December 1929, Page 10
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