WOOL SALES

Ashburton Guardian, Volume 50, Issue 94, 31 January 1930, Page 6

WOOL SALES

FIRST AT INVERCARGILL.

HEAVY PASSINGS REPORTED. THE RANGE OF PRICES. (Per Press Association.) INVERCARGILL, January 30. The first wool sale of the Invercargill series was held this evening. Suggestions that it would be wise to cancelthe sale 1 did not find a great deal of favour, but a communication from England to the effect that prices would almost certainlv he better latei, evidently bad the effect of firming the reserve on a number of lots. Roughly 50 per cent, of the offerings in some catalogues were passed in, and a fair number of lots were withdrawn vv hen an estimate of .values became known. Bidding, generally, was not spirited, but was keen up to a point. Buyers were undoubtedly acting on very restricted limits, and it- was quite apparent that they were not prepared to go beyond a certain point, except m a very few cases, when bidding for super wools. The sale generally brought forth prices about in keeping with brokers’ valuations, but in many cases farmers had decided to their clips rather than accept ruling values. In some cases there was a reserve of from lOd to 12d on wool passed in at from 7)d to B’d. The Values realised were about equal to half of those paid at the concluding sales of' last year, and fully half the local clip had been disposed of at these prices. No doubt many grovv'ers will feel disposed within the next few days, to accept the passed-in- prices, or elect to attempt to do business with buyers at slight advances, but the general feeling of buyers is that no business will lie' done in advance of the passed-in- prices, and they may not be prepared to go that extent. - The bidding was confined largely to Bradford interests, and. most of the heavy-weight in the 1 letter wool went in that direction. The Continental buying was free up to a point for the more inferior of wools, and many lines of the better pieces were purchased in their interest. Local mills, aiul, to some extent, speculators, secured a few lines of the better class wools. Medium crossbred in some cases fell to bids which appeared 1 to lie attractive buying for those inclined to venture in wool speculation at the present moment. Values showed a slight improvement over those ruling at the Wanganui sale, hut when the quality of the yield is taken into consideration from a buyers’ point of view, no doubt the present prices were fully justified, and any improvement shown is probably negligible. The official range of prices was: Ha If bred—Super lOd to 32(1, medium 83d to 9id, inferior 6£d to Bd. Fine Crossbreds—Super Sjd to 91d, medium 8d to 83d, inferior 63d to 73dMedium Crossbred—Super 8d to B|d, medium 7d to 7jd, coarse 6fd to 73 d. Coarse Crossbred—Super 8d to 83d, medium 7Jd to 73d, inforior 53d to Bid. Hoggets—Super 9d to lOd, medium 8d to 81-d, coarse 8)d. Pieces—Extra good 63d to 7.4 d, first Crossbred 43d to s'kl, seconds 33d to n Bellies.—First Crossbred 33d to 4Jd, second 3d to 33d. Crutchings—First Crossbred 33d to 6d, second 23d to 33d. Necks—First fine 7d, seconds 53d. Locks—2id to 33d. Throughout the sale there was little fluctuation. LONDON SALES. (Received This Day, 9.55 n.m.) LONDON. January 30. At the wool sales 922 G bales were offered, of which 2433 were New Zealand. There was an excellent selection of greasy merinos and a. good offering of greasy crossbreds. The recent improved tone was maintained 1 , prices being fully firm all round. There were few withdrawals. The sales close on February G. New Zealand creasy crossbred sold at 123 d and lid. The Bradford tops market is better, merinos being slightly higher owin' to the firmness in London. Quotations are: Sixty-fours, 28d; 60’s, 26d: sG’s, ‘2l jd ; 50’s, 183 d ; 46’s, 163 d ; 4(>’s. 15’d.