DECLINE CHECKED

Ashburton Guardian, Volume 58, Issue 89, 25 January 1938, Page 7

DECLINE CHECKED

THE AUCKLAND WOOL SALE.

BRADFORD BUYERS ACTIVE

(Per Press Association.) AUCKLAND, January 24. A welcome chock to the decline in wool prices which has been apparent since the New Year, occurred at the second Auckland sale of the season. Brokers estimate that prices were quite on a par with average rates at the Wanganui sale last week, and that compared with values at the first Auckland sale in November, hogget wools were id to Id higher. Ordinary crossbreds were also in sellers’ favour.

A preliminary estimate of the return is 9£d per lb, and £1315s a bale, compared with 15.047 d per lb and £22 6s 8d at the second sale last year, and 9.37 d per lb, and £l3 10s 7cl a bale at the first sale of the present season. There was a good clearance, approximately 90 per cent, of the offering of part of the remainder by private treaty. On a basis of 90 per cent, being sold, the estimated return to woolgrowers is £371,250, against £613,852 from the second sale of the 1936-37 series, and £201,700 from the sale in November last .year.

Freer Bradford Buying. Competition was keener and better spread than at the first Auckland sale. There was a bench of more than 50 buyers, but bidding was confined to about six or eight firms representing Continental and Bradford interests. The activity of Bradford buyers was a pleasing feature, and was responsible for the Continent meeting with competition, which made for Higher values. Japan and the United States were out of the market. Though keen competition was within well-defined limits. Fine sorts were not so keenly sought as coarser grades, especially those long in staple, for which bidding was brisk. In several instances coarse, long wool brought relatively higher prices than the finer wools in the same clip. The wool on show was of much the same quality as the usual second sale offering at Auckland. It was inclined, however, to be a shade finer, and was shorter in staple. Consequently long wools were scarce, and this accounted to a large degree for the higher prices paid for them.

Good Clearance Made. Passings, which occurred with monotonous regularity at the first sale in November, were comparatively few, though in the later stages there was a tendency for more lots to be passed. There was a clearance of only 58 per cent, at the November sale, much of this being sold by private treaty after growers liad realised that they had set their reserves much too high. Growers had obviously decided to meet the market to-day, and reserves were fixed at more reasonable levels. The general feeling among growers was one of satisfaction at the prices received, it being realised that there was no hope of a repetition of last season’s soaring prices. There were a few however, who had stipulated prices out of all proportion to the market, and in several catalogues good prices offered for isolated lots were refused, to the obvious surprise of tlie buyers. In contrast to the opening sale of the current series, when there was. a crowded gallery awaiting the beginning, and when anxiety was plain on every face, there were only half a dozen spectators in the gallery at the start of to-day’s sale.

Top. Prices. Top price at the sale to-day was 16d for eight bales of Corriedal© hogget offered on behalf of T. L. Vining and Sons, Mangatangi. The whole clip was particularly attractive. _ Six bales of Corriedale hogget and eight bales of Oorriedale, both brought 15d per lb. Halfbred wool from. Waiheke Island attracted bids only up to 14d, and was passed at this figure. The renewed Bradford interest was a pleasant surprise, though it had been foreshadowed to a degree at Wanganui. From the beginning, however, it was apparent that Bradford was in the market for suitable wools, and as a result there was no recurrence of the events of last November when the Con-

tinent had the market to itself and fixed prices accordingly. Bidding was prompt throughout with no sign of lagging at any stage. The sale began at 8 a.m., and the complete offering of 30,000 bales had passed; under the hammer by 1.50 p.m.

The Range of Prices.

Inferior and seedy ... 67) to 71Locks— Crossbred .... ... 5 to 6 THE SYDNEY SALES. SDYNEY, January 24. The Sydney wool sales were resumed to-day. , The market for average to good wools was from 5 per cent, to 7 per cent, below the closing rates of the previous Sydney auctions. Faulty descriptions met with a very restricted demand and showed a decline of 10 per cent. Competition "was mainly from Yorkshire and the Continent. Greasy merino made 23Jd. The offerings totalled 10,710 bales of which 8100 were sold, and, also 895 sold privately.

The following is the official range of prices:— d. d. Southdown — A . 11 to 12 13 . 9* to 104 Fine Halfbred, 58, 56-58, Extra super ... 56— to 16 Super • 134 to 14 Average . 12 to 13 Medium Halfbred, 50-56, Average 50— . 12 to 13 Inferior . 10 to 11 Extra Fine Crossbred, 48-50 — Super ... ••• 11 to 115 Average . 9i to 10J Inferior 84 to 9i Fine Crossbred, 46/48-— Super 104 to 11 Average . 94 to io v Inferior 84 to 94 Medium Cross-breds 44-46-Average 9i to lO.i Inferior 84 to pi. Coarse Crossbred, 40-44— Average 9i to 104 Inferior 8a to 91 Hoggets— Fine 11 to 12 Medium 9i to 105 Lambs— Fine 114 to 13 1 Seedy and inferior 8 to 95 Bellies and Pieces— Crossbred: Good to super 8 to 10 Low to medium 64 to 75 Crutchings— Medium to good 8 to 94