WOOL PRICES SOAR.

Taranaki Central Press, Volume IV, Issue 297, 30 November 1936, Page 5

WOOL PRICES SOAR.

Returns At Auckland Rise By 60 Per Cent. Press Associa t i on—Copy r i gh t. Auckland, Nov. 29. Making a sensational advance, prices at the first wool sale of the 1936-37 season in New Zealand held at Auckland on Saturday, rose by about 60 per cent, in comparison with the average values of last season. There was practically a complete clearance of the 21,590 bales offered. The dominating factor in the sale was the intense competition from Japanese buyers. They' s'tormed the market and, operating apparently almost. without, limit, set a pace which was far too hot for Bradford. On the estimated average of 1-1(1 a lb and £2O a bale, the return to the Auckland growers should exceed £430,000, compared with £240,154 obtained at the opening sale last year when the average prices were 5.27 d a lb and £l2 2s a bale. I The buyers and wool brokers who attended the sale were united in describing the auction as one of the most amazing on record. Even the representatives of linns which acted on behalf of Japanese interests were i unable to conceal their surprise at the- results, while others associated I with the trade seemed 'temporarily I nonplussed.