STILL SOARING.

Auckland Star, Volume LXVII, Issue 296, 14 December 1936, Page 8

STILL SOARING.

WOOL PRICES IN N.Z.

FIRST CHRiSTCHURCH SALE

RISE OF 70-80 PER CENT

(By Telegraph—rrcss Association.) CHRISTCHURCH, this day. Wool prices continued 011 their merry way at the first Christchurcli wool sale held to-day. Values were 70 to 80 per cent better than at the corresponding sale last year, and though not strictly comparable with recent North Island rates, fully maintained the cheerful tone set at the four sales already held.

Japan, the Continent and the United States were active in the market _ for finer wools, with Bradford doing little or 110 buying, their demand evidently being restricted on account of the high prices ruling. The bulk of the allocation of 28,C10 bales comprised half bred and Corriedale hogget wools, with a good proportion of three-quarter-bred and practically 110 crossbred.

Right from the start bidding was slow, and it appeared as if there was little competition for wool, but all the same prices started at and maintained a very satisfactory level. It was noticeable that apart from local mills, which were operating freely for finer wools, very few of the other buyers were taking an active part in the sale. Although there were Japanese buyers 011 the bench, they did nothing but watch proceedings. Their wool was bought for them by other buyers, and they took the bulk of fine wools offering. There was a suggestion from some quarters that Russian orders were keeping some of the buying firms busier than usual.

The quality of the offering was better than is usual for the first sale, the bulk of the Corriedale and halfbred hogget wool was well grown, soft handling and bright. Clips generally were not as heavy as they have been for the past two years, but what they lacked in weight they made up in quality. At 11 o'clock about two-thirds of the first catalogue, comprising 7388 bales, had been sold. The best price at that stage was 26 : } d paid for seven bales of Corriedale. The best halfbred price was 20d paid for 17 bale 3. Firm Prices Realised. Some outstandingly good prices were realised for individual clips. The best of the Rakaliuri Corriedale ewe wool went at 2(i.}d, with other fleece lines selling at 203 d and 24Jd, pieces at 22Jd and bellies and pieces at IGd. Another excellent sale was Taruna Corriedales, firsts making 24.] d, and then scaling .down to 23.} d and 22Ad. Some Corriedale first pieces and necks brought the exceptionally good price of 20Ad for the four bales offered. Other Corriedale pieces sold at 19} d, with halfbred pieces selling at 18(1 and over.

Passings were few and far between on the fiiv-t catalogue, the total being just over 200 bales for 7388 bales offered. Growers in the second catalogue, bowever, set a higher reserve on their wool, and passings were frequent over the early stages. Buying became quicker as the sale drew on, and there was keener competition.