THE WOOL MARKET.

Taranaki Daily News, 17 November 1920, Page 5

THE WOOL MARKET.

| SALES IN AUSTRALIA. i *~ GENERALLY WEAKER CONDITIONS. By Ttlejra'ph.—Proas Assn.—CopyrleM. Received Nov. 10, 7.20 p.m. Sydney, Nov. IC. The wool sales showed lessened competition, even for super sorts, nnd generally a weaker market, but a new record was established, a line of greasy touching 4-ld. Received Nov. 10, 7.20 p.m. Melbournt, Nov. 10. At the second of the scries of wool sales competition was disappointing, American particularly showing a fallingoff, wools suitable for this market declining 10 to 50 per cent, on the opening sales. Top-making qualities declined 15 per cent., and faulties and inferiors were almost unsaleable. There were heavy withdrawals. Greasy touched 4'2d. After the auction, however, a good deal of wool was cleared at mare satisfactory figures.—-Ams.-N.Z. Cable Assn. LONDON PRICES UNCHANGED. Received Nov. 10, 5.5 p.m. London, Nov. 15. At the. London wool sales the Government is meeting the market a little in merinos. There is a poor show of crossbreds, and heavy withdrawals. Medium and low qualities are unchanged, and others are unchanged.— Aus.-N.Z. Cable Assn. THE CHRISTCHURCH SALE.

"SIT TIGHT" METHODS. By Telegraph.—Press Association. Christehureh, Last Night. It is pointed out that at yesterday's wool sales there were enough buyers present to assimilate five times the catalogue with little concern, but their policy was obviously one of waiting, with a probability that had any particular buyer operated freely he would have had competition to contend with. As a matter of fact brokers to-day sold quite an amount of the passed in catalogue at 1W to 2d a lb more, than the price bid at the auction, most of the sales being to local buyers, but occasional lots to outside representatives. The fact that sales have taken place at 15 to 20 per cent, in advanco of the auction offers would, seem to suggest that Monday's prices about touched bedrock. It is known that several of the yery full bencli of buyers possess large purchasing powers; and it is believed that when they get into touch with their principals as to the position here their limit will be advanced sufficiently to allow them to maintain their "sit tight" attitude, particularly in regard to the better grades of wool.