THE WOOL MARKET.

Taranaki Daily News, 1 June 1921, Page 5

THE WOOL MARKET.

GOOD SALE AT NAPIER. ' IMPROVEMENT IN PRICES. » By Telegraph—Press Association. Napier, Last Night. The Napier wool sales were held today, 8405 bales being offered, and despite the fact that all the wool carried a reserve, something like 80 per cent, was sold. Prices on an average showed an increase of about 10 per cent, on the Wellington rates, representing an increase of three farthings to a penny per pound on fleece wool. Buyers present represented New Zealand, English, American, and Continental houses.

Competition was brisk throughout. The top price realised was lOfd for a line of Southdown wool. Super clean crossbred wool was sold to American buyers at from 5%d to Bd. Fully 69 per cent, of the wool quitted was taken for Bradford firms. Most of the remainder was distributed between NewZealand mills and America, and the balance was bought on behalf of French and Belgian firms. A French buyer informed a reporter that the future promised a much better demand from France. The slackness recently was due, not to a lack of machinery, but the adverse exchange, which was now improving. France was now able to take from New Zealand as much wool as in pre-war days. Buyers were disappointed at the almost complete absence of lambs’ wool, a circumstance evidently due to the farmers’, reluctance to pay charges demanded for shearing. The range of prices was as follows : —Southdown B£d to 10%d, crossbred, coarse 2d to 3fd, medium 3|d to 6Ad, fine 4}d to Bd, lambs 3d to Bd, pieces, ordinary to 3y 2 d, three-quarter-bred 5d to 6jd, locks |d to Hd, bellies Id to 3d.