AUCKLAND WOOL SALE.

Auckland Star, Volume LIX, Issue 281, 27 November 1928, Page 9

AUCKLAND WOOL SALE.

FIRST OF THE SEASON. SATISFACTORY CLEARANCE. VALUES FULLY MAINTAINED. FARMERS WELL PLEASED. Lucky Auckland farmers! This description appears quite apt at the moment, for a beneficent climate has rarely proved so propitious; stock values are high; only yesterday export buyers announced their willingness to pay a price which must be considered an excellent one for new season's lambs—of which there should be aplenty—and last night the wool sales found buyers from all parts of the world literally scrambling over each other to secure a share of the 1928 clip. The stars in their courses seem set to lift the farmers of this province from the temporary depression which had overtaken them. Last season at this time there was the customary hesitation on the part of Yorkshire operators to give the prices that wool producers were expecting, and at the first sales of the season in the Dominion the competition was largely confined to Continental buyers. It was not until the little army of wool men came to Auckland and saw this province's record of over 23,000 bales that Bradford really opened out and "made" the market. For the present sale almost identical conditions have ruled. London sales in September were disappointing from the growers' point of view, a marked decline being registered. Early Sydney sales echoed this decline, although as the Australian season progressed some recovery was made. The early sales in the Dominion, namely, those at Wellington, Napier and Wanganui, brought satisfactory clearances with progressive improvement, but again the Auckland fixture with a catalogue little short of last year's has caught the crest of the wave. Southern rates have been fully maintained and in some grades there have been higher values with competition so keen that practically a complete clearance has been effected. i From the moment the sale opened in the Town Hall Concert Chamber last evening, with a bid of 17d for eight bales of fine crossbred —precisely the same figure as initiated the auction of November, 1927—it was apparent that buyers were out for business. The quantity was large enough, and the quality good enough to command their best attention. The buying bench of nearly seventy was representative of all parts of the wool consuming world, which it may be remarked is much more extensive than was the case a few years back. Yorkshire operators are still the mainstay, but Americans, French, German, Japanese, and Russians are all directly represented, and by their presence ensure free and open competition. Last year it was emphasised that wool had rarely been "closer to the sheep's back"; in other words, that world stocks were low. Reliable statistics in this connection are not obtainable, but the course of events proves that the remark is again applicable. Reports of depression in the textile industry at Home seem to justify the efforts made in September, and since by Bradford top buyers, to keep the price of raw material down to what they considered a profitable level, but the upward trend of recent weeks demonstrates conclusively that the world wants wool, and is prepared to pay for it.

The onward march of artificial silk, the altered fashions which threatened the wool industry, the efforts of "bear" operators, none of these appear effective in checking the insistent demand for the sheep's fleece. The top price realised at last night's sale was 25d given for a portion of the clip of O'Brien Bros., Waiheke, which topped the opening sale last year at 26 Jd. It would appear in this connection that prices generally for half-breds are not quite p so high as at last year's sale. But it was in bellies and pieces that the improved values were chiefly noticeable. Early in the session prolonged subdued whistling by some of the buyers when these lines were "knocked down" indicated surprise at the high values reached. To find these classes which years ago were comparatively neglected realising such figures as 14d, 15d, and even higher emphasises the importance of having fleeces well skirted. A prominent visitor who is a good judge of wool and has been round the sales, was enthusiastic in his praise of the Auckland clip. Some of the finest cross-bred clips in New Zealand, he declared, are now to be found in the Auckland province and only a few more years of the steady improvement that has been going on will demonstrate the fact unmistakably to the wool trade. "But," he added, "this only gives another reason for rigid and careful classification. At to-day's sale unskirted fleeces did not bring within pence of those which had been skirted. With prices for bellies and pieces as high as they are there is no economy in neglecting this important factor." '

Amongst the lots which caught the attention of buyers was a small line of Corriedale sent forward by Captain Humphrey Davies, of Clevedon. It was entirely ewe wool from the Stringfellow strain and realised the handsome figure of 22Jd. Considering the double purpose nature of the Corriedale this is a fine return. Speaking generally, it is considered that this season's wool is lighter and in better condition than that offered last year.

The trend of the market to-day followed verv closelv the results of last night's selling, and the final catalogue was cleared shortly after noon.