THE WOOL MARKET.

Taranaki Daily News, 27 January 1921, Page 5

THE WOOL MARKET.

REALISATION SCHEME. NEW ZEALAND’S POSITION. Ji' 1 . 11.1 By Telegraph.— Press Association. Auckland, Last Night. Negotiations in connection with the wool realisation scheme are still in progress. Mr. Massey stated to-day that so far as he was able to judge they would be brought to a successful conclusion possibly within the next few days. The problem for New Zealand was not one of exceeding difficulty, and not nearly so complex as that facing Australia, for instance. The interests of the Dominion had to be watched, nevertheless, and this was being carefully done. TIMARU WOOL SALES. DEMAND FROM AMERICA. Timaru, Last Night. The second wool sale of the season was held to-day, commencing at 9 o’clock, and continuing until 6 p.m. A catalogue of 12,349 bales was offered to a full bench of buyers representing English, Continental, American and Colonial mills and scourers. The wool was not as clean and bright as in the last few seasons, and there was an absence of really top lots. A feature of the sale was the demand for good, light three-quarter and cross-brads wools, suitable for the American markets—especially hoggets. On the other hand, dusty halfbreds were probably a penny lower than at recent Sales. The few good light half-breds offered fully maintained their prices. Merinos were disappointing, and the market most irregular, though some good prices were realised. Good, fine pieces sold well at prices out of proportion to fleece wool, but generally pieces, bellies and locks were easier.

Following are some of the prices.— Merino, super, 18M to good, 15.Jd to 17£d; medium and inferior, lid to 14|d; half-bred super, 14d to 15id; good, 12|d to 13fd; medium, 9Jd to lljd; inferior, 7fd to 9{; three-quarter-bred super, lid to 13d; good, 94d to 10|d; medium, 8d to 9£<l; inferior, 6d to 7?d; crossbred, super, Bd’ to 9£d; good, 6£d to 7fd; medium and inferior, 4d to 6d; Scoured wool.—Half-bred, to 23|d; three-quarter-bred, to 16|d; crossbred, to 13fd; crossbred pieces, 13d; three-quarter-bred pieces, 16d; greasy, best half-bred pieces, lOd to l'2£d; three-quarter-bred pieces, to Bid; crossbred pieces, up to 6d; bellies (fine), to BAd; three-quarter-bred, to 4£d; crossbred, to 3Jd; locks, lid to 4d. SALE OF “FREE” WOOL. BETTER TONE ALL ROUND. By Telegraph.—Press Assn —Copyright. Received Jan. 26, 5.5 p.m. London, Jan. 25. At the “free” wool sales about 9000 bales were offered, half of which were Australian. There was more competi.tion and a better tone all round. Merinos reached fully five per cent above last. week, due to stronger Continental competition, owing to appreciation in the value of the franc.—Aus. and N.Z. i Cable Assn. COMPLETE CORNER FEARED. I ondon, Jan. 25. Yorkshire newspapers strongly criticise the Government’s purchase of South African wool. The Bradford Observer says that provided the wool and textile industry and the British public accept this latest proposal it would place in the hands of a syndicate no inconsiderable proportion of the existing wool supplies. It would not be surprising to learn at an early date of an agreement on similar lines regarding the New Zealand njd clip. In such circumstances the foundations of a complete wool corner are capable of being realised, and Mr. Hughes’ dream of dictating wool values to the world will become realisable.— Aus.-N.Z. Cable Assn.