DUNEDIN WOOL SALE.

Auckland Star, Volume LXV, Issue 57, 8 March 1934, Page 11

DUNEDIN WOOL SALE.

BETTER THAN ANTICIPATED. GOOD CLEARANCE EFFECTED. (Ey Telegraph.—rrcss Association.) DUNEDIN, Wednesday. The third Dunedin wool sale of the season was held to-day, when the catalogues offered by the various brokers totalled 20,249 bales. The condition of the wool was generally heavier than at the February sale, the offerings containing a number of station clips, which were shorn later. There was also a greater proportion of crossbred.

Prior to the sale indications pointed to much lower values than those of last month, antl the first signs of better prices were from London cablegrams which were received before the sale commenced. These showed that London values were firmer than was anticipated. The better tone of the London market was immediately reflected in to-day's sale, which opened and continued throughout the day with more animated competition than was experienced at the February sale.

All the purchasing countries were fully represented. The Continent was the chief buyer of fine fleece wool and of fine pieces, while Bradford lifted the bulk of the crossbred. Local mills also supported the market and purchased lots suitable for their trade. A limited quantity of half-bred and fine crossbred was secured by Japan. The market being firmer than was anticipated, brokers' values were exceeded, with the result that passings were not heavy, being only about 5 per cent of the total offering. These passings were mostly con lined to coarse crossbrcds and were lots on which the growers had placed high reserves.

The well-known half-bred clip grown by Mr. C. Mitchell, of Deep Stream, was offered at to-day's auction. TTis clip usually tops the Dunedin sales, being very light in condition and well grown, a lid to-day realised the top price of for five bales. Price Decline Arrested. On the whole to-day's wool sale is considered very satisfactory, one of the outstanding* features being that the market had the appearance of having reached bottom and firmed at to-day's values. The general decline of Id to 1M was greatly below conservative expectations. A decline of 3d to 4d per pound was anticipated for wool of 48 and 48-50 counts, but to-day's prices dropped no more than 2d. The falling off in values of fine wools was also less than predicted and crossbreds were selling at prices beyond the values assessed when the wool was displayed in stores. The arrest of the decline and the definite evidence of firming wool values gave brokers, growers and the general public cause for greater confidence. Keener bidding speeded up the sale and up to 370 lots an hour were sold, as against 310 lots an hour at the second sale.

The official range of prices was as follows, rates at the February sale also being given for purposes of comparison:—

February. March. Merino— d d d d Super ... 10 to20& 18$to 21 Average ....... 17} to 18* IT to 18± Inferior .. 16 to 17i 15£ to 10} Fine Half bred. 5G-5S— Extra super ... » to2S} to 2.15 Super ......... 21} to 2i»} 10 to 22 Average .. ... 30 to 21 17$ to 10} Inferior 10 to IS 15 to 17 Medium I-Ialfbred, G0-."»G —- Super ..... ,v.. 21J to 223 19J to 21 j Average IS* to 20 17 to 10$ Inferior ••...*•• 15% to 17} 15 to 10} Fine Crossbred, 4S-50 — Extra super ... — • to .0 Super 10} to IS} 14} to !♦>} Average 1*» to l.» 11} to 1J} Inferior 11} to 12} 10 toll Medium Crossbred, 40-47— Super ......... 32} to 14 11} to 1 «> Average 11 to 1- 10 to 11.t Inferior 10 to 10J Si to Crossbred, 41-10— i Super lOitol'- J to 11 Average 1* to 10 i1 to 8J Inferior 75 to 85 to 7 Necks and I'ieccs— Hnlfbred: . (lood to super . 10 to 22* 105 to lSst Low to mciliuui . 11 to 17J 1-i to lo Crossbred: (Jood to super . 14 to 10 10} to 1.jJ l.ow to medium 7 to !)J to 9 Bellies— llalfbred: Good to super . 14 to 17 11 to 14|J Lo\v t to medium 11J to 13$ 8 to 105 Crossbred: Good lo super . 05 to 11 8 to 10i Low to medium 7 to !) 5} to 0i Crutchings— .Medium to good !> to 121 S to 1-i Low to medium 5 to Si 5 to 71 Locks— , Hood to medium 5J to 8} 8 to 9} Low to medium 4 to 5 55 to 7