WOOL MARKET

Wairarapa Times-Age, 7 April 1938, Page 3

WOOL MARKET

SYDNEY SALES. NO CHANGE IN PRICES. SYDNEY, April 6. At the wool sales 9482 bales were offered, 8440 being sold at auction, and 1022 privately. The market was without change. Greasy Merino made to 18-Jd. FINAL WELLINGTON SALE. The fifth and final wool sale ;:t Wellington this season will be hold on April 22. No limit was fixed by the New Zealand Wool Committee for this sale, and the quantity at present available is slightly more than 15,000 bales. CHRISTCHURCH SALE. TO-MORROW’S OFFERING. An offering of 22,164 bales will be submitted at the final Christchurch wool sale of this season to be held tomorrow. Prospects for the sale are reasonably good in the opinion of local brokers. Since the third sale in Christchurch at the beginning of March there has been a remarkable steadiness in the market. Wools have sold at the North Island sales under keen competition, and there has been

a rise of approximately Id per lb for crossbreds.

It is expected, if the bulk of the fourth sale catalogue is cleared, the carry-over to the new season will not be big. Sales so far in Christchurch this season have totalled 69,116 bales, against 84,565 for the first three sales last season, and 97,150 bales for the full four sales. Shipping overseas has been used more this season, and besides this the clip is lighter than it was last year, so the total for this season will probably not greatly exceed 90,000 bales. The realisation this season for the three sales, at £1,026,123, is approximately one-half of the realisation for the full previous season. JAPAN’S REQUIREMENTS. TOKIO, April 5. A leading wool merchant has informed the Associated Press that he expects Australia to supply 78 per cent, of the 450,000 bales of wool that Japan is likely to buy in 1938. The army, however, prefers New Zealand wool for its purposes, and it is likely that it may take 70,000 bales of such wool, South Africa and South America supplying the remainder of the requirements.