WOOL MARKET.

Auckland Star, Volume LVI, Issue 286, 3 December 1925, Page 4

WOOL MARKET.

THE CHRISTCHURCH SALES. DROP IN PRICES. GOOD LOCAL BUYING. (By Telegraph.—Press Association.) CHRISTCHURCH, Wednesday. The first of the Christ-church, wool sales for this season was held to-day, when 18,000 bales were offered. The bulk of the halfbred wool was light in condition. There was a full bench of buyers, representing all the wool-using countries.

The sale lacked animation, and values were down on the recent North Island sales by from one halfpenny to a penny per lb. * The Continental section secured the most of the catalogue, America and Bradford buying sparingly. The local mills bid strongly for super fine wools, both fleece and pieces, and the local fellmongers also operated briskly for pieces and scouring lots. The market generally was accepted, the passings being less than 12 per cent. The top prices were: Merino, 22} d; Corriedale, 21d; halfbred, 23d; three-quarter-bred. lS}d; crossbred, 16d; Merino pieces. 19d; halfbred pieces, 18-Jd; crossbred pieces. 12J; crutchings, Hid; bellies, 10d; locks, 9Jd. These prices, however, are about 2d in advance of the figures secured by the good wools in the various grades. The range of values was: —

Merino — Super -° to —* Medium IS to 193 Inferior 13 to 17 Corriednle — Super 191 to 21 Medium 17i to 19 Inferior \U to 16 J Fine Halfbred— Super 19 to 23 Medium 16J to 183 Inferior I3i to ioj Medium Halfbred — Super 18 to 20 Medium 15i to I's Inferior 12i to 15 Coarse Halfbred — Super IT to 19 Medium I4i to iej Inferior ...". 1«J to 1-1 Three-quarterbred — Super 15i to ISJ Medium 13i to lo Inferior 10i to 13 Aged Crossbred— Super i.. 133 to 16 Medium ' 12J to Vi\ Inferior 10J to I' 2 Coarse Crossbred — Super 13 to 141 Medium 11l to 123 Interior 9J to 11 .First pieces 13 to 19 Second Pieces .... S to 12 Locks 5 to »$ Bellies S to 16 Crutchings " 5 to 10J

VICTORIAN SALES.

MELBOURNE. December 2. The final series of Melbourne wool sales this year has commenced. Prices Tor super Merino to-day were 5 per cent lower, and ordinary topmakers , sorts from 7 1 to 10 per cent lower than at the previous sales. Comebacks and crossbreds were unchanged.—(A. and N.Z. Cable.)

LONDON SALES.

LONDON, December 1. At the London wool sales to-day Merinos were offered in a miscellaneous selection. Prices were sometimes slightly In buyers' favour. Crossbreds were very firm. There were considerable withdrawals, owing to the high reserves.—(A. and ft.Z. Cable.)

AUSTRALIAN WOOL TRADE.

A FORECAST. • rs'EW YORK,- December 1. Sir James Elder, Commissioner ror Australia to the United States, In an important address berore the American Association or Woollen and Worsted Manufacturers, outlined the position or Australian wool, especially as concerning , the United States, and indicated certain conclusions or interest to trie wool trade here and in Australia. " '.. Sir James endorsed the 'Australian • wool selling methods, saying: they renected credit-upon all associated with them. He believed it was a physical impossibility for the Australian sales to be effected In a shorter period of time than at present. He justified the cancellation or the public sales last May. as being , dictated by business considerations and common sense. The law of supply and demand held good in wool as in other, commodities. " My opinion is that in the near future Australia will be carrying many more million sheep than she is carrying: at present," added Sir James. He considered a period or steadily improving trade might be expected, because there were no heavy stocks in the hands of manufacturers or speculators. The Australian carry-over from the last clip had all disappeared. There were no accumulations of tne present production. Thjs was very likely due to a better demand and the ready disposal that was occurring as stocks were offered.— (A. and N.Z. Cable.)