THE WOOL MARKET.

Taranaki Daily News, 25 May 1921, Page 5

THE WOOL MARKET.

THE SYDNEY SALES. A VARYING MARKET. By Telegraph.—Press Assn.—Copyright. Received May 24, 9.10 p.m. Sydney, May 24. At the wool sales, Japanese buyers were active. Super merinos eased slightly, but medium sorts were unchanged. Inferior grades were better, while .here was a general advance in crossbreds.—Aus.-N.Z. Cable Assn.

WELLINGTON SALE TO-MORROW. “BAWRA” RESERVE PRICES. (From Our Own Correspondent.) Wellington, Last Night. The wool sale to be held in Wellington on Thursday is being awaited with very keen interest by producers and brokers. The sale will be the first held since the New Zealand producers, through their standing committee, decided to co-operate with the BritishAustralian Wool Realisation Association in maintaining reserve prices. The quantity of wool to be offered will not be much less than the quantity offered in Sydney at a recent sale, when some 11,000 bales.were cleared at an advance on the March prices. Competition in Sydney is keen, and there is reason to believe that buyers will be active at the Wellington sale. The reserve prices are based on an average of 9d per pound for greasy merino, and 5d per pound for greasy crossbred. The actual reserves placed on each class of wool are not being disclosed, although buyers Who attended the Australian sales under “Bawra” conditions will doubtless have a pretty good idea of the figures. New Zealand is adopting for the present the “Bawra” reserves. Buyers here will not be subject to any restrictions as to export, such as operate under the Government order in the Commonwealth.