LOWER PRICES.

Auckland Star, Volume LXX, Issue 19, 24 January 1939, Page 9

LOWER PRICES.

SECOND OFFERING. FRENZIED BIDDING. BUYERS ON RIGID LIMITS. MANY LOTS PASSED UNSOLD. A jrroup <if cliimorons wo>l buyers in shirt alrevcs kept tip an almost ceaseless din in the Town Hall concert clmmber this morning as they yelled antl howled and yest icn la ted vigorously in a brave battle to catch the nttention of the auctioneer and outdo their neighbours on the benches. The variety of Appeal was a mil zing, some shrieking their bids in staccato tones with repetitions like the report of a (iatlinjr gun. others relying upon the efficacy of a single prolonged yell that might well have presaged the dislocation of a v ical orgun. With such keen bidding one might have thought that the sheepfarmer had definitely come into his own and that figuratively speaking, he was sitting on top of the world. Actually, tiiis was far from the truth. In some respects the sale opened disappointingly with valnes well down on the first sale of the year held in Auckland in November. After all, it is the buyer who makes the market and these gentlemen hailing from many countries, who were bidding ever so keenly for the wool, had their limits rigorously fixed by princijinls whose regard is not for the New Zealand farmer, but whose object is to buy so cheaply that they can successfully compete in the world's markets for manufactured goods. New Zealand wool is wanted and badly wanted-*-at a price. Unfortunately, that price is unfavourable to the farmer in these days of rising costs. Order of the Sale. Quantities brought forward and the order of the sale was as follows: — Bales Dalsefy and Company 0,470 Abraham and Williams and Wright Stephenson (In conjunction with Newton Kins) 4.180 Alfred Hncklnnd and Sons .... 1,958 Farmers" Auctioneering (in conjunction with North Auckland Farmers) 5.898 New Zealand Loan and Mercantile 5,48.1 Total 24,000 Sharp at nine o'clock Dalgety and Company's auctioneer, Mr. E. L. Salmon, opeaed the sale in the presence of a full bench of about sixty buyers, including three Japanese, and with a sparse assemblage of spectators in the gallery. The first lot submitted "was on behalf of a North Auckland farmer, and comprised four bales of ordinary fleece wool. The best bid was 8R at which figure the lot wu passed unsold.

Realisation* Below Expectations. At the k>ts were dealt with in quick succession, prices for fleece wool ranged from 8d to 9d and it became evident that when allowances were made for bellies, piece*, crutchings and so forth, the average return would be well below that realised in November, when the average of the whole sale was just over 9Jd per lb. Moreover, from the frequency of the passings, It was indicated that realisations were below the expectations of growers and possibly of the brokers also. Although bidding was in general keen and well maintained, there were occasions when the auctioneer was kept waiting before any offer was forthcoming. In assessing the results of to-day's sale, it must be remembered that the quality and condition is not equal to that offered at the first sale, nor is it up to the standard of the usual second sale of the season. This is largely due to the effects of an unfavourable winter, which caused the wool to suffer both as regards texture and colour. Bifid Price Limit*. Aa the sale progressed the trend shown in the first catalogue was maintained, with brisk bidding under rigid price limits. Passing* averaged about 1» per cent of the offerings, a striking oontrMt to the first sale, when practically an entice clearance wm effected at prices that were slightly higher than had been expected. The consensus of opinion among the experts wa* that the whole sale was slightly easier on Wanganni, good wool#, being Arm with shabby and inferior about %d lower. Some purchases were made for Japan and America was occasionally in the market for coarser sorts, but the bulk of the offering went to Bradford and the Continent, with Germany operating freely. All the catalogues were sold at a good rate and the sale was over by 1.30 p.m., considerably earlier than tiniial. Tin* partly due to the restriction of the catalogues.

The variations in the wool market are shown by the results of Auckland# second sale in the past 11 years. Average Average per bale. per lb. Total. £ • <1 d * \ ii'is 23 r» 2 16.09 318,730 1!«5 :::: inn » «»-»»» 1930 .... 10 5 1 7.12J 146,4 4 1031 .... 313 5 4.00 74>98 JSS •••• ;j} i 4.0«S w» !Sm :::: iS" ! «=« 1933 .... 8 2 8 5®2 193* 12 2 1 1087 22 « 8 1« 047 C 13,802 1938 .... 14 0 0 0.48;> 397.-b_