JAPAN STILL BUYINC.

Taranaki Central Press, Volume IV, Issue 309, 15 December 1936, Page 6

JAPAN STILL BUYINC.

CHRISTCHURCH WOOL. Competition Too Strenuous For Bradford* Press Association —Copyright. Christchurch, Last Night. Japanese buying .completely dominated the first Christchurch wool sale of the 1936-37 season to-day. Buyers •with orders on behalf of Japan lifted the greater part of an attractive catalogue at prices 65 to 75 per cent, above those at (the December sale last year. The prices were the best since 1929. Like many sales when high prices rule, yesterday’s fixture was comparatively quiet. Bids came almost with restraint, but runs .from the starting price proved that the buyers were hungry for wool and were prepared to bid until they secured it. j Japa-h bought Steadily and'took bet-I ter class wools of all descriptions, j For super lots there was excellent competition from local mills, and the Continent took a fair quantity of pieces and fleece. There was some buying on behalf o£ America and Can- | ada, but their requirements were re- I stiricted to carpet types and special

fleece lines. Prices had been established so much above parity outside New Zealand that Bradford buyers were unable to compete. Several Bradford men who ifs a rule have large orders had no orders at all, and throughout the day Bradford competition was restricted to the very small amount of crossbred offered and to a very limited interest in some descriptions of finer wools. The market was completely at .the mercy of the Japanese operators., who appeared to have no limits at all.

Prices for lower grades of wool were on a par with those ruling at the North Island sals. It is difficult ■to compare the December Christchurch fixture with 'the three North Island sales that have already been held because there is .little wool offered in the North Island of similar .type to the fine halfbreds and Corriedales that form the greater part of the catalogue at Christchurch. This difficulty was particularly marked to-day, when the catalogue was almost exclusively made up of halfbred and Corriedale wools, with only occasional lots of crossbred and Merino. Nearly' the whole offering of* 28,610 bales was sold. Lt is estimated that the average value will be about £25 a bale, .compared with £l4 16s Id at the corresponding sale last year.