SMALL RISE IN WOOL

Press, Volume LXXIII, Issue 22271, 9 December 1937, Page 13

SMALL RISE IN WOOL

Wellington Sale STRONG CONTINENTAL COMPETITION {TRESS ASSOCIATION TELEGRAM.)

WELLINGTON, December 8. ’At the first Wellington wool sale of Oie 1937-38 season to-day, there was a small but definite improvement in prices compared with those which ruled at the opening sale at Auckland on November 27, and that at Napier last Friday.

. To-day’s market showed an advance jof Jd per lb for average sorts, and f up to one penny for good wools on those of the Napier sale. A feature of the sale was the remarkable activity of Continental buyers, notably France and Germany, who bought heavily and generally dominated the market. A year ago Japan was most prominent and forced prices up, but to-day little if any wool was bftught on Japanese account. Bradford operated cautiously and sparingly. Some good orders for super wools were filled on Canadian account. New Zealand mills were active, and bought wools suited to their requirements. Small Offering For a first sale in Wellington the offering was unusually small. The limit fixed by the New Zealand Wool Committee was 30,000 bales, a quantity that was disposed of easily at last year’s December sale. The fall in wool prices during the last six months and the disappointing opening of the season at Auckland had, however, weighed heavily on the minds of growers, with the result that the quantity catalogued for to-day’s auction was only 20,500 bales. Eleventh-hour withdrawals further reduced this quantity to about 19,500 bales, of which about 88 per cent, was sold at auction.

The wool offered to-day was not up "to the standard of the Wellington December offerings, much of it being light in condition and poorly grown, and showing the effects of the hard winter and dry spring. Very little lambs’ wool was offered, and most of the hogget wools showed lack of condition. There was a completely full bench of buyers, representative of every section of the trade. Vigorous Bidding From the start bidding was vigorous at the lower limits, and the sale proceeded at a fast pace. Due to the small offerings, buying went right through without a break. The main catalogues were disposed of in four and a half hours, and only the star lots remained to be dealt with at 1.30 fc.m.. Competition was very keen and bidding was frequently excited. Continental buyers were outstanding, and a much larger quantity was taken on German behalf. Bradford gave fairly good support, but buying from this quarter was somewhat restrained. As far as could be learned, little if any wool was bought on Japanese account. 'Die United States was not in, but Canada bought well on super wools. Local mills came in for anything suitable for their needs. The majority of the growers represented in the catalogues met the market, several brokers reporting clearances of from 92 to 93 per cent. In other cases, growers had placed unduly high reserves on their offerings, with the result that passings were heavier. Of the total offering, approximately 88 per cent, was cleared at auction. Range of Prices The official range of prices was:— Dec., April, 1937. 1937. d. d. d. d. Merino (64/70-

60/64)— Extra super — — Super — — Average 121 to 14 18 to 21’v Inferior Hi to 121 to 151 Fine Halfbred (56/58)— Extra super — Super 13.1 to 151 21 to 233 Average 11! to 13 183 to 201 Inferior 9“ to 111 15 to 191 Medium Halfbred (50/56)— Extra super — Super 121 to 133 21 to 22 Average ! ’ 11“ to 12:1 17 to 201 Inferior 9J to 11 17 to 183 Extra Fine Crossbred (48/50)Super 12 to 133 19 to 211 Average 101 to 12 18 to 201 Inferior 9" to 101 15 to 181 Fine Crossbred (46/48) — Super Hi to 123 19 to 21 Average 10 to 11 18 to 194 Inferior 9 to 93 15 to 181 Medium Crossbred (44/46)Super 111 to 13 19 to 191 Average 10 to 111 18 to 19! Inferior 81 to 9.3 15 to 183 Coarse Crossbred (40/44)Super 11 to 121 18.3 to 211 Average 10 to 103 18 to 19 Inferior 81 to 91 161 to 18 Low Crossbred (36/40)— Super to 20 Average 10 to 103 181 to 19.3 inferior 17“ to 18 Hoggets (48/50) 10 to 131 161 to 201 Fine (46/48) .. 10 to 121 18i to 201 Medium (44/46) 93 to 113 18i to 19| Coarse (40/44) .. Loh (36/40) .. Lambs— — 181 to 19.3 Down. (50/56) to 12 161 to 211 Fine (44/50) 103 to 143 161 to 201 Medium(40/44) 16“ to 19 Seedy and inf. 63 to 10 101 to 15

Bellies and Pieces — Merino, good to super .. 9 to 10 144 to 174 Low to medium Halfbred, good to super 9.1 to 10 123 15 to to 141 18 Low to med. 6 to 9 11 to 144 Crossbred, good to super .. 84 to 104 144 to 18 Low to med. 0 to 81 101 to 143 Crutchings— Med. to good n to 101 13 to 163 Inf. and seedy 43 to 7 94 to 13 Locks— Merino 5i to 6.V to 104 Halfbred 5 to 64 to 9" Crossbred 44 to 74 8 to H4