WOOL MARKET

Wairarapa Times-Age, 29 March 1939, Page 3

WOOL MARKET

FINAL DAV AT AUCKLAND BIDDING BRISK WITHIN LIMITS. PRICES REMAIN FIRM. (By Telegraph—Press Association.) AUCKLAND, March 28. At the final Auckland wool sale of the present series today prices paid were firm on those ruling at the opening of the sale on Monday. Because of the similarity of conditions today to those experienced at the opening of the sale, no official report and range of prices covering the second day’s activities has been issued by the Auckland Woolbrokers’ Association. The range of prices issued by the association on Monday also applies to values received today. Since there was a smaller proportion of lambs’ wool in one of the two catalogues today, it is possible that the average price paid will be slightly in excess of the figure of about 8d a lb. estimated as the average for Monday’s section of the sale. A price slightly in excess of £l2 a bale is considered likely to be the average for today’s selling and, on this basis, with a clearance of at least 95 per cent, the return to growers would be about £130,000. Growers fire estimated to have received something like £280,000 from the opening day of the sale and their proceeds from the two days’ selling are therefore expected to approach £410,000, against £432,521 from the final sale last year. A sum of £633,569 has already been received from the first two Auckland sales this season, and the return for three sales is thus thought likely to exceed the £1.000,000 mark by a fair margin and to equal the 1937-38 realisation of £l,031,483. As was the case' on Monday, most prominent buyers today were representatives of Bradford, France and Germany. There was some uncertainty as to whether Japan was in the market, though it was believed that a small proportion of the offering was bought on behalf of Japanese. Bidding was again brisk, but restricted by definite limits. In isolated instances lots of wool that were not in demand did not fetch a single bid. On one or two occasions halfpenny advances were offered by buyers anxious to secure a certain attractive lot, but for the most part rises were made in farthings. and when two or three buyers called the same figure simultaneously none appeared willing to offer another farthing to clinch the deal. Once again bidding, though active for the duration of the sale, was confined to comparatively few of the buyers present. Top price today was lid a lb., which was accepted for two offerings. The highest price offered was 132 d for 11 bales of scoured fine crossbred. The wool was passed at this price. Though one or two of the highest bids of the day' failed to reach growers’ reserves, passings were infrequent. It was estimated that less than five per cent of the wool offered remained unsold at the end of the auction, and of that a proportion is likely to be disposed of by private treaty.