WOOL MARKET

Ashburton Guardian, Volume 55, Issue 129, 13 March 1935, Page 6

WOOL MARKET

FINAL SALE AT TIMARU. GOOD SORTS AT LATE RATES. INFERIOR LOTS IRREGULAR. BRADFORD AND CONTINENT BUY (Per Press Association). TIMARU, This Day. The second and final wool sale of the season at Timaru was held this morning, when 22,158 bales were submitted. There was a full bench of buyers, but values for the first two catalogues did not show any improvement on the rates at recent sales. The wool opened up very dry and discoloured, a large quantity being yellow, due to seasonal conditions, the wet spring followed by phenomenally hot weather, causing sweating.

The wool was also shades coarser than usual.

Good wools sold much on a par with prices at Dunedin, but for discoloured and inferior lots competition was irregular, Pieces were inclined to be a shade easier, from a farthing to a halfpenny. Bradford and Continental buyers -were the principal buyers, with Japan obtaining suitable lots. Germany operated sparingly. The range of prices was:

THE LONDON SALES. FIRMER THAN ANTICIPATED. (Received This Day, 11.40 a.m.) LONDON, March 12. At the wool sales, which opened today 8760 bales were offered, including 3043 New Zealand and 1040 Australian. It was a poor selection. Approximate sales of Australian and New Zealand were 3804.

A large attendance resulted in brisk general competition, especially from Yorkshire, with a strong undertone. The market was firmer than was generally anticipated. Compared with the February closing rates, merinos greasy fin© was unchanged, medium low declined by 5 per cent., crossbreds fine declined by from 5 to 10 per cent, medium declined 5 to 7J- per cent, coarse was at par to five per cent decline. New • Zealand, greasy cross-bred, Katatane, sold up to with an average of 7gd; slipe half-bred, Gear, 10£d, lOfd. The National Mortgage and Agency Company, of New Zealand, Ltd., Ashburton, have received the following cablegram from their London office, regarding the wool sales: — "The auctions opened! here to-day at a decline on last sales closing rates. The selection of wool offered was only fair. Good competition at the lower rate, confined almost entirely to Homo trade as Continental buyers are not operating. Compared Avith closing rates of last sales we quote: Greasy merino, best, |d lower; greasy merino, average, £d lower; half-bred's 50.60, id to Jd lower: Cross-breds, 48-50, id to 7 ]d lower ; 46-48, |d lower; 44-46, id to *d lower 40-44, id lower; 36-40, id lower; fine slipes, $& to 3d lower; medium and coarse slipes, lower. As at present arranged, the sales will close on March 29."

Prices were: d. d. Merino— Super 9 to 132 Halfbred— Super 101 to 111 Average 82 to 91 Three-quarter-bred-— Super — to 9 Average 00 d -S3 1 Crossbred 92 to 102 Cor l ied ale 92 to 102 Pieces— Merino 8 to 9 Hall bred 8 to 92 Three-quarter-bred o to 6 Crossbred 8 to 91 Necks— Halfbred 8 to 91 Three-quarter-bred . 41 to 61

Merino d. d. 7 to 131 Halfbreds 7* to lli Binned -— to 12|-Three-quarter-bred 5'i to 10 Crossbred 5i to 9i Crossbred 8 to 11 Pieces— Merino 7 to 9i Three-quarter-bred . 5 to 6 Bellies and necks— Half bred 7£ to 10 Pieces and necks—. Merino — to 10i Three-quarter-bred . 4| to 6