WOOL PRICES.

Auckland Star, Volume LXIV, Issue 285, 2 December 1933, Page 12

WOOL PRICES.

FIRM AT NAPIER.

NINETY PER CENT RISE.

IMPROVEMENT ON MARCH,

(By Telegraph.—Press Association.)

HASTINGS, Friday.

Prices which were slightly down in level on the Auckland sale for lower grades, and on par in super grades were realised at the opening wool sale held at Napier to-day.

The slight decrease in level which resulted was not altogether a surprise to most growers, due to the fact that Hawke's Bay wool does not provide the same amount of line halfbred wool, but abounds in fine, medium and coarse crossbreds. Taken on the whole, the prices may be said to be 95 to 100 per cent better than they were at the March sale at the end of the last selling season.

Compared with the rates which ruled at the December sale last year for the Hawke's Bay district, values on average to good wools showed an advance of 8d to 9d on 50-50's, 8d to 9d on 48-50's, 6d to 7d on 46-48's, to 4Ad 011 44-40's, and 3d to 4d on 40-44's.

Right from the start of the sale it was evident that the Continent was going to absorb a greater proportion of the Hawke's Bay clip than at Auckland. Bradford was well represented among the large bench of 70 buyers, and bid steadily 011 all classes of wool. Buyers' rates were not so elastic as at Auckland, but the bidding was steady and was maintained throughout the course of the sale. New Zealand mills purchased all classes of wool, although they did not feature to any great extent in the buying.

Rapid Advance in Bidding. A feature of the bidding was the Jow starting prices, which advanced rapidly up to buyers' limits. Some offerings started at Gd and finished at 1/ and over. No spectacular prices were paid, and it was evident thq.t buyers were bidding low starting prices in the hope that they would be able to secure offerings at below market rates, but no opportunities were missed, and where the bids failed to realise brokers' valuations the offerings were passed in. Only a small percentage failed to reach the valuations, which in many cases were exceeded. Rises of Ad were common on good types of wools. The quality of the clip showed an improvement in get-up and in the quality of the top lines, this being favourably commented upon by several buyers. The fact that there was less hairy wool included was also praised. No deterioration was noticed ill the bulk of the held-over wools, and an anomaly existed in that some held-over clips realised better prices than new .wool from the same vendors.

Indication For Season. It was pointed out that to-day's sale gives a better indication of the season's realisations in the coming season than the Auckland sale, as values to-day were more steady, and, in the opinion of several brokers, represented more truly the state of the wool.

A conservative estimate of the rise on March values was 00 to 95 per cent, this indicating that the return to normal prices will be on a more steady basis. The official range of prices was not available to-night owing to the fact that the brokers do not meet until to-inorrow.