THIRD WOOL SALE

Press, Volume LXX, Issue 21096, 22 February 1934, Page 11

THIRD WOOL SALE

■ ALLOCATION OF 23,000 EXPECTED t no tit; n :".:i:'i;s looked ion ul this .■>.:;.■■"■. hi be held to-r.ior-.-ovi, wiii b ■ ■! vvod supply of h:i :• v-vo! Ci :;:)i.(i cairne": r. Cun:^:!- ! u'J:i n about 1-0.000 bales. A;, the lir-t- two salts about 52.000 bale:: have been -ohi, but it is anticipated by the broke/- that Mi: catalogue for the fourth sale will be btiilt up from clips that li.iv vt- i,i year.; past been shipped tor sale. It has been ccr.vmon vear ainoiv; the bigger stations to sell hi Now Zealand instead of following the usual practice and shipping. Lower Return Expected Discussing the probable return from the sale, Mr C. Holdsworth. chairjnanofthe Christchureh Wool Brokers' Association, said yesterday th;t it would deliniteiy not bo as good as the January sale. Even if- priees in other centres had remained as at January, the average returns would be lower because at the January auction practically all the super quality wool is cleared. The cream of the clip has gone, and it was doubtful if there would be any extra super wool offered at all. The recent drop in prices in other centres is not quite as serious as it may appear at first sight. The Napier and Wellington sales in January saw the highest point of the present season reached, and even the January Christchureh sale was not up to the high peak attained at those two sales. The rirst sign of an casing came at the War.gar.ui sale, just befcre the second Christchureh sale in January, but the market did not recede from Wane,anui levels, and for tine halfbred and Cornedaie was just, about as good as at any period during the season. Back Country Clips A„ large part, of the offering for the third sale wiii be of wool, shut out from the second sale, when stores were left with a great deal of the stan-ie 3ii them in spite of an increase in the allocation shortly before the sale. A number of the bigger back country clips will be offered. The wool has opened up in ordinary third sale style, and contains a fair proportion of good wool. As at the other two sales, the viol displayed will show a certain rmount of dustiness and tenderness, tod will be light, owing to the adverse v-f-a'her eendi'icns earlier in the grow- .._.,. ~,2 , r n There will be quite a lot <-" good quality wool about. Li'tle It ■■- have, for .-'-me year';, pursued a c ... ,;,,'- r :r;r,;' Jo rjje | - rjl b ni'OdUOed. TV.- 1 third Chris'chureh sale offer* Twr-icihy the last chnn'-e to buyers i secure good quality fine wools in i Ni-.v and this factor may stir:;- i tlalo bidding. DUNEDIN SALE RECEIPTS BETTER AVERAGE PRICE 1 (rMrss 13so'Tat---s :evv,;r±\! • DUNEDIM February 21. More than £1.000,000 has now beer, paid over in respect of the two woo! i sales held in Dunedin during the i current season. At the i-icond sal" on February 5 a total of 2.'!..".'17 bad- v. disposed of for a re;urn of f2521!..".:; r 13s Id, the receipts from the orevi -u ■• sale, of 29.204 b:-,l"= b ■■->"'•" fa'!' 73 1 lis 4d. The average puee a pound of the wool at the last sale showed an increase en the former one. being 15.13 d. : compared with 13.S?d. while the aver- , age a bale at the following sale was £2l 3s fid. as against; fl 19 12s Od in December, CROSSBRED WOOL market over-supplied Commenting on the drop in prices for crossbreds at the third Wellington wool sale last week. Dalgety and Company. Ltd.. stated:—"lt seems that the market at, present is over-supplied with the coarser grades, and as fashions at the moment are running on the finer qualities a quick recovery In crossbred priees can hardly be looked for. Prices at th-v January Wellington sale =tand at date as the highest of the Dominion 19J3-34 soiling season, and it seems a.? if the highest peak has now been passed. At that sale a number of buyers had orders to "buy at. best." which accounted for the phenomenal rise. Such. orders are now withdrawn, and buyers are tied down to defined limits, and unfortunately with reduced buying power, especial!'/ on crossbreds. "English buyers have not. bouaht anything like the quantity of crossbreds to date as compared with their purchases last season. There is still a heavy weivht of crossbreds to be marketed in die North Island, and by the time the April round is finished, the total will orobabiy amount to 150.000 baL.s. "Present priees will , naturally be very disappointing to many grower- uf crossbreds. especially after tne hieh prices which ruled in January. The sh:r-p rise then recorded has hau a.; tipsottimi; influence on the market, but P cow seems as if prices tor crossb.-e ;s hive become stabilised, and it is hoped that no further fail ( will be recorded. Even at to-day's , in Febru,-.ry. It'/J.;. :he ivc;-.\:ry is pro-