WOOL PRICES FALL

Press, Volume LXXXVI, Issue 26032, 8 February 1950, Page 6

WOOL PRICES FALL

SECOND WELLINGTON SALE STILL ABOVE OPENING RATES (New Zealand Press Association) WELLINGTON, February T. Prices ranging to 5 per cent, lower than tho&e at Wanganui last week were paid for clips at the first day's auction to-day of the second Wellington wool sale of the season. The top price was 58|d for 11 bales of reclassed Southdown wool bought for overseas. Stimulated by strong Continental demand, there was keen overseas competition for coarse crossbred. The market was also supported by the United States. Bradford bought sparingly within restricted limits. Values were above those at the first Wellington wool sale of the season early in December, but below- the peak prices paid at the first day of the Auckland wool sale on January 20. Since then there has been a progressive easing in values. There was a complete clearance, including nearly 600 bales of surplus war-time stocks offered on account of the Joint Organisation. In spite of its age this wool opened up in surprisingly good condition. The sale will be continued on Thursday. The official report issued by the Wellington Woolbrokers' Association, in conjunction with the New Zealand Wool Buyers’ Association and the New Zealand Wool Disposal Commission is: "A total of 20,502 bales of new season’s greasy wool was offered together with 594 bales on account of the New Zealand Wool Dis-

posal Commission. There was a full and representative bench of buyers but the Continental section of the trade dominated bidding, with Bradford buying sparingly and American bidding very freely on coarser wools. The local mills also operated. The offering comprised wools from the Manawatu, Rangitiki, and Wairarapa districts, together with a small percentage from Nelson and Blenheim. Overall the offering opened very attractively. It was particularly noticeable that wools from the Rangitiki area were very well grown. Realisations for ewe wool, wore definitely firmer than at the Wellington December sale, and all bellies and pieces sold exceptionally well. The offerings of lambs’ wool, being early shorn, were short in staple and sold erratically. The market can be quoted as par to 5 per cent, easier than the Wanganui sale.” Range of Prices ■ The following is the official range ot prices:—

d. d. Southdown— Extra super ... .. to 58 J Good to super .. .. 50 to 561 Good 45 to 59 Inferior .. .. 382 to 42 Fine Down Cross— Good .. .. 45 to 47 Average .. .. .. 40 to 42 Inferior .. .. .. 37 to 391 Fine Crossbred— Good .. .. .. 36 to 37 Average .. .. .. 33 to 35 Inferior .. .. 30 to 32 Medium Crossbred, 46/50’s— Good .. .. .. 33 to 35 Average .. 28 to 32 Medium Crossbred, 38/46*s — Good .. .. 36 to 38 Average .. .. 33 to 35 Strong CrossbredGood to super .. 40 to 46 LincolnGood to super .. 45 to 48 Fine Crossbred Hogget— Good .. .. 38 to 42 Average .. 32 to 37 Fine Crossbred Hogget (shorn) — Good to super .. .. 42 to 44 Good .. .. .. 38 to 40 Average .. 32 to 35 Lambs. Fine Crossbred— Good to super .. 40 to 44

Average Inferior and seedy Necks 33 to 38 24 to Crossbred— Good to super 36 to 38 Average 32 to 35 Pieces Fine Cross or Three-quarter-bred— Good to super 33 to 35 Average 30 to 33 Crossbred— Good to super 30 to 32 Average 27 to 2Si Bellies Crossbred— Good to super 27 to Average 24 to 26 Inferior and seedy 22 to 23j Locks Crossbred 18 to 21