THE WOOL MARKET

Ashburton Guardian, Volume 59, Issue 121, 4 March 1939, Page 2

THE WOOL MARKET

THIRD CHRISTCHURCH SALE. AVERAGE TYPES DEARER. (Special to the “Guardian.”) CHRISTCHURCH, This Day. Under a strong and Avidely-distributed demand, average avools at the third Christchurch sale, of the season yesterday, improved in price by about a halfpenny Avhen compared Avith rates at the second sale at the end of January. The improvement Avas general over all qualities, and as the bulk of the avool offered at a third sale here is made up of average halfbreds, three-quarter-breds, and crossbreds the result Avas satisfactory. Super aa’ools, Avhich Avere offered only in small quantities,. Avere cheaper, and the best .spinners’ avools Avere also a little doAvn. The sale Avas notable for the very small total passings. Of the catalogue of 24,233 bales, feAver than 250 bales failed to change hands at auction. It is seldom, even in times of high prices, that the percentage is so small. The value of avool at present is too loav to alloAV more than a few particularly fortunately-placed farmers to get their money back, but the groAvers have met the market exceptionally Avell. Bradford and Continental buyers, particularly German operators, Avere throughout the sale, and there Avere a number of useful American orders. Japan bought- little. A Typical Offering. The offering Avas a typical third-sale offering, in that it Atas mainly made up of average halfbreds, Avith a fair sprinkling of three-quartefbreds, and a good representation of Chatham Islands and Banks Peninsula crossbreds. Marlborough clips Avere also Avell represented. First grade spinners’ avools Avere very scarce, but there Avas a rather larger shoAving of medium to good spinners’ avools than is usual at a third sale. Fbav Merinos Avere offered and most of them were paddocked sorts of high quality. The avooL opened up in reasonably good condition and Avas fairly free from dust, and shoAving considerably less yolk stain than the third-sale avool last year, slt Avas, hoAveA r er, not a particularly attractive offering all over. For inferior avools, the sale Avas excellent. Few first grade spinners’ avools Avere offered, and any comparison of these Avith January rates is difficult. The medium to good spinners’ types, Avhich are generally cleared at the second sale, Avere represented more heavily than usual, and Avere definitely Aveaker than in January, the fall being from par to a halfpenny and in odd, cases more, bringing prices back to about December rates. Dusty and unattractive Average avools Avere firmer in all qualities, halfbreds by a halfpenny and some three-quarterbrecls and fine crossbreds up to threefarthings. Coarse wools were about on late North Island rates, except very strong lines, which Avere a little cheaper.. Pieces sold firmly in an active market in Avhich the Continent Avas dominant.

Wider Demand at Rigid Limits.

Bradford buying was sustained and brisk throughout the day, as was Continental activity, particularly on German account. There were useful orders for America, and local mills were interested in the small quantity of wool that suited their requirements. Japanese buying was very modest. Demand appears to have widened considerably since the second sale here, but there has been no relaxation of the rigid limits, to which most buyers were operating. It frequently occurred that eight or ten buyers would be noisily on their feet all calling the same price, and would resume their seats when one of them raised tlfe bid a farthing. There seems to be no marked disposition to return to the days of a wide difference in price for fine and coarse wools. All sorts yesterday met eager competition. The Range of Values. The following is the range of prices:

PROSPECTS FOR TIMARU . V TIMARU, This Day. From records available the second and final Timaru. avool sale of the season, Avhich is t-o he held on Tuesday, promises to provide the largest catalogue of any sale hold in this centre. It is expected that more than 30,000 bales Avill be offered. The large catalogue is probably oaving to the fact that less scouring i. 4 being indulged in from year to year, and that the catalogue contains a larger proportion of back-country avooI — chiefly Merino —than is usually available for the fixture. The clip has opened up in first class condition and is Avell up to standard of Avhat is usually offered at the sale. While it is difficult to forecast the possible trend of the market, prices have fluctuated only to a trifling extent for some Aveeks past*, and Avhile the ruling values cannot be described as ,spectacular, groAA’ers, with very feAV exceptions; are meeting the market. At sales held in recent AA'eeks and at Christchurch yesterday, an almost total clearance Avas effected, passings in some catalogues being little more than 1 per cent. In the opinion of a broker yalues on Tuesday should be firm on Christchurch yesterday. He said that in vieAV of the alarming rate at Avhich the artificial product Avas being manufactured groAvers AA;ere, perhaps, Avis© *to meet the mat’bet rather than alloAV stocks of avool to be carried over — a policy which usually resulted in a, false basis of value being established. Although the catalogue to be offered was an unusually large one, it Avas felt that there Avas ample buying poAver to absorb it all Avithout difficulty. ' The increased offering has resulted in the stores being taxed to capacity. The AA r ool is noAV open for inspection and the buyers’ yepresentatives will be fully occupied until sale day in making their values. The order of {selling and the approximate offerings are as folloAvs: / Bales. C.F.C.A ... 6650 Dalget-y and Co 5472 N.Z. Loan Company ... 1920 Pyne, Gould Guinness 7611 National Mortgage ... 8381 Total ... ..30,034 WELLINGTON’S; THIRD CHEQUE WELLINGTON, March 3. At the recent Wellington wool sale the bales offered numbered 24,539, of Avhich 24,330 were sold and 209 passed in. The net Aveight Avas and the proceeds £342,277 18s 4d. The aA r erage price a bale was £l4 Is 4d, and the average per lb 9.287 d. BRADFORD MARKET FIRM.

LONDON, March 2. The Bradford market is firm, but quiet. Quotations are: Merinos—7o!s 26d, 64’s 25d, 60’s 24d. Crossbreds—s B’s 21d, 56’s 19d, 50’s 17d, 46’s and 44’s 16d:

d. d. Merino, 64-70, 60-64— Extra super — to 15| Super HJ tO X— 2 Average 10i to lli Inferior f) to 10 Corriedale— Extra super —' to 15 (Super — Ilf to 13 Average 10 to iu Inferior 9 to 92 Fine Ha If bred, 68, 56-58, 56— Extra super — to 142 Super * 113 to 13 Average 10-i to Hi Inferior 9 to 102 Medium Halfbred 50-56, 50— Super 1H to 121 Average ' 10 ’ to 11 Inferior 8.i 9=} Extra Fine Crossbred - . 48-50— Super ... 10i to Hi Average 92 to 101 Inferior 3i to 9i Fine Crossbred, 46-48— Super 10 to 10J Average 9 to 92 Inferior 8 to 82 Medium Crossbred, 44-46— Super 10 to 10-J Average 9 to 92 Inferior 8 to 82 Pieces— Merino: Good to super 10 to m Low to medium 8 to 9 Halfbred: 1 Good to super 10 to 12j Low to medium ... s to 9i Cross-bred: Good to super 8 to 92 Low to medium 61 to 72 Bellies— Merino: Good to super 8 to 82 Low to medium ... 7 to 72 Halfbred: Good to super 8 to S2 Low to medium ... 7 to 72

Crossbred: Good to super ... 7 to .8 Low to medium ... <>* to G2 Crutch mgs— fEalfbred: Good to super . ... 6 to 7i Low to medium ... 4 to 5i Crossbred: Good to super 7{ to 8f Low to medium ... 6 to 7 Locks— Merino 4£ to 5£ Halfbred 4$ to Crossbred 3£ to 4f