OPENING WOOL SALE

Dominion, Volume 19, Issue 45, 17 November 1925, Page 6

OPENING WOOL SALE

SPLENDID TONE PRICES ABOVE LONDON PARITY KEEN CONTINENTAL BUYING The opening sale for the wool season 1925-26 which was held in the Town Hall yesterday must be described as a success, for although prices were pence below the March or closing sale of last season, there was a splendid tone, the bidding was keen and well sustained and the bulk of the offering was sold under the hammer.

There was a full bench of buyers present for the opening wool sale, and all wool-using countries were represented, there being quite a half dozen new buyers present, mainly representing Continental firms.

The exact quantity of wool submitted was 10,007 bales, and of this about 4000 bales consisted' of wool carried over from the March sale, and which could have been sold then at much higher prices than were realised yesterday. Growers showed a commendable disposition to meet the market. The reserves were in consequence reasonable, and the result was that about 94 per cent, of the offering was sold.

The prices realised exceeded expectations, for they were fully 10 per cent, above the parity of the last London sales and in some cases more. The buoyancy of the market was mainly due to the activity of the Continental representatives, who were much in evidence throughout the sale, securing a fair quantity of ail grades of crossbred wool. American buyers were also operating! freely, paying full nrices for the class of wools that suited them. It was noticeable that some of Bradford’s “big men” were more or less silent, and this has caused brokers and growers to think a lot. It is difficult to say what this silence portends, but' that it has some significance is obvious.

The condition of the new clip was tender, but soft, finer in quality and lighter. There was very little merino wool in the catalogues, but there were one or two respectable clips which sold at 20d. to 23jd. for average to super, and were bought by local mills and Bradford. There was a fair proportion of halfbreds, 48-50’s, in practically all the catalogues, and the top price was 20d. or about 2d. to 4d. below those current last March. Fine crossbreds, best quality, realised up to 173 d., but the bulk sold at round about 15d. to IGd., the Americans securing the choice lots, while Continental buyers competed keenly for the average lots. Medium crossbreds realised IGld., but the average was 13d. to 14Jd., which represents a fall of 2d. to 2id. compared with the March sale. Coarse crossbreds made up to 14Jd., with the average at 13Jd.,. showing a decline of 2d. to sd. on March parity. Bradford and the Continent were the principal buyers of coarse crossbreds. As high as 183 d. was paid for line hogget wool, but the bulk sold at IGd. to 17d. The lambs wool offered was largely last season’s, and the highest price obtained was IGJd. There was very good competition for bellies, pieces and locks largely from Continental operators.

Viewed as a whole the sale was satisfactory, and the indications are that there are not likely to be the fluctuations that wore witnessed last season. Prices will fluctuate, but within a very narrow margin. RANGE OF PRICES

BROKERS’ REPORTS DALGETY AND CO. Messrs. Dalgety and Company, Limited, report:— . . After some months of serious depression in the textile trade it is pleasing to bo able to report a resumption of the Dominion sales under much brighter prospects. We think that growers generally will bo pleased with the results obtained to-day. -Last year the appeared to bo caught napping, and tho severe lesson taught will not be hurriedly forgotten. A very large bench of buyers was present with quite a number of new faces, the new arrivals mostly representing Continental houses. One of the most noticeable features of today’s sale was the apathy of th? Yorkshire buyers and the representatives of a number of the largest houses sat throughout the sale as merely interested spectators, without buying a bale. This was regrettable and rathot perturbing, for Bradford competition is always valuable and generally th? mainstay of wool auctions. It is evident that the limits they held for to-day’s sale were much below those of Continental buyers, and the latter took a very large portion of the offering. America was in the market for super wools, of which there was only a small offering, and ijjd freely on ~ suitable lots. French buyers were active and secured a good quantity of lambs’ wool, and the best hollies and pieces. Germany was well in the market, and as a large quantity of the catalogues contained the class of wool suitable for thoir trade, their purchases were extensive. Crutchings and all classes of scouring wools sold well, Japan and Australia buying most of tho former. For an interlot of 5 bales of extra good crossbred crutchings wq made

Hid. Th? quality and condition of today’s offering was on the average only fair. Fully 5(1 per cent, of the catalogue was comprised of late shorn wools held over from last season, and these wei> in the main off colour and heavy in condition; The small portion of new wool submitted opened up well, being lustrous and very light. Some of the early shorn hogget wool was inclined to bb tender with tick stain in evidence. We offered about 250 bales of merino from the Marlborough district, and sold same at rates well up to London parity, Bradford and Pominion mills brin"- the buyers. Benonni AA wethrrs made 23Jd., A ’wethers 22d„ and first pieces I'i’d. Pyramid merino hoggets. 221 d. In crossbreds a clip from Marton, Tufu/Totara AA hoggets, made 173 d., and WBX from Pahautanui, AE, Itild., and A wethers IGJd. A line of suner thrve-ouarterbred necks. Ballyaddy, sold at ISd. Indications from our first sale point to quite a successful season, and once Bradford competition becomes pronounced the auction should go with a swing, and so long as growers are prenarrd to accept the basis of values established to-day good clearances should be effected. In to-day’s catalogue we were not hampered with high reserve, growers generally being prepared to accept our valuations, and 97 per cent, of our offering was sold at auction. We think that the decline in values from last season must inevitably lead to a keener demand and greatly assist in stabilising prices. At th? outset the very fact that the same amount of money will buy more wool must encourage frccer buying, and with prices off their pinnacle there is less danger of a sensational fall. From reliable sources it is ascertained that U.S.A, stocks in bond are remarkably light, and when confidence is once more fully restored a good demand should come about from this country for our super Romneys. The following represent a list of our sales: —

Merino. —3 bales Benopai 233 d. and 7 bales, 22d.; 14 bales, 211 d.; 14 bales, 20Jd.; 5 bales pyramid 221 d. and Shales, 22Jd.; 5 bales Brancott, 20d. Half-brod. —5 bales Pyramid, 171 d.; 4 bales JOB, IGld., and 3 bales, 173 d.; 8 bales Happy Valley 18d., 3 bales 1.53 d.; 4 bales Woodvale, 17Jd.; 4 bales-Übique, 16d.; 3 bales Benopai, IGld. '■ Corriedale. —14 bales Homeburn, 18}d. 5 at 17Jd., 18 at 15’.d. Fine crossbred.—4 bales Tutu/Totara, IGld.; 13 bales Maringi, IGJd.; 15 bales WBX, IGld.; 8 bales WDP, laid.; 12 bales C3/Rongomai, IGd.; 7 bales G/Taihape, 14d.; 4 bales Eeho/Lands, 14d.; WPjNarawan, 133 d.; 8 bales WP/ H, lHd.; 15 bales Ngatitoa, Mid.; 9 bales Happy Valley, 14Jd.; 17 Pukehau, 133 d.; 3 bales Benopai, 14Jd,; G bales JWM/Linside, 123 d.; 25 bales WC/P, 143 d.; 3 bales Woodvale, Mid.; 11 bales Opau, 13Jd.; 7 bales LFP, 14d.; 7 bales JH conj. /M, 15|d. . Medium crossbred. —5 bales Maringi, 15d.; 18 bales Tawanui, 13Jd.; 23 bales D and I, 13d.; 6 bales II in sq. /Tauranui, 12Jd.; 9 bales AEP, 13d.; 11 bales Eeho/Lands, 13d.; 19 bales Hunua, 131 d.; 18 bales Waiijirie, 13Jd.; 5 bales GFW, 133 d.; 17 tales Waitoru, 135 d.; 12 bales WMAA in crossed keys, 133 d.; 11 tales HN conj., 133 d.; 8 bales, B wine glass B, 133 d.; 4 Opau, 123 d.; 5 bales EWP, 133 d.; 4 bales FH/R, 131 d.; 4 bales Tutu/Totara, 131 d.; 9 bales WA/E, 125 d.; 7 bales ASA, 123 d.; 8 bales JLP, 13Jd.; 7 bales HPF/K, 133 d.; 14 bales' HS/Ngawaka, 13Jd. Strong—ll bales WP/Narawan, 123 d.; 3 Sureydale, 123 d.; 7 HPF/K, 13id.; 18 bales B/S Flatpoint, 13{d.; 4 Ngaio/B, 121-d.; 'l5 bales JW/Rakanui, 13d. Hoggets.--18 bales Tutu/Totara, 173 d.; 7 WBX, 16J>L; 3 Ngakonui/P, 163 d.; 7 bales Tutrumuri, 16d.; 6 Tablelands, lid.; 3 DMM/P, IGd.; 7 bales WMAA in crossed koys, 15Jd.; 3 Ngaio/B, 143 d.; 11 Opau, 15id.; 20 bales Hadleigh, 133 d.; GO Mokau, 12|d.; Tekohai/S4, 14d.; 6 bales Hunua, 13Jd.; 12 Kakapo, 13}d.; 7 WP/H, 153 d.; 5 DBB, Mid.; 7 bales Ngatitoa, 13Jd.; 5 Happy Valley, 143 d.; 3 JWM/Linside, 123 d.; 5 bales WC/P, 141 d.; 11 HN conj., 134 d, and 5 bales at Mid.; 7 Tawanui, 14d.; SbalesßWP, Mid.; 5 Camphill, 15d. Crossbred Bellies and Pieces. —7 bales Ngatitoa, Hid.; 3 T/OP. 9Jd.; 3 Echo/ Lands, 10£d.; 11 bales Tekohai, 10d.; 4 Surreydale, B^d.; 3 Ngatitoa, 72d.: 7 bales HN conj., IOJd.; 5 Opau, 93d. Crutchings.—4 bales Eastry, 9id.; 3 AMO, fid.; 6 Branscombe. IOJd. and 10 at 73d.; 3 bales GD/Matuku, 9Jd.; 4 Waitoru, Gd.; 3 BU/S, 9d.; 4 Teroto, 103 d.; 6 bales Surreydale, GJd.; 4 Happy Valley, Gd.; 4 Limebrook, 9!d.; 8 bales Maringi, 9Jd.; 4 B wine glass B, 6|d.; 15 Papanui, CJd.; JW/Rakanui, 63d Lambs.-G talcs FB/B, 15Jd.; 6 Echo/ Lands, I3jd.; 5 Tekohai/S4, M3d.; WP/ Narawan, 121 d.; 9 Surreydale, 15W.; 3 GFW, 153 d.; 3 MS/NGA, 131 d.; 5 bales WMAA in crossed keys, lir d -; 4 JWM/Linside, MJd.; 3 bales MAE, 153 d. LEVIN AND CO. Messrs. Levin and Co., Ltd., report:— Our catalogue represented 2226 bales, mainly crossbreds of good quality and a small supply of halfbreds. The new clip shows signs of a check lat? in the winter. The staple of hogget wool is short and inclined to be tender. There is a general lack of growth m staple which ivill -make the yield per sheep of this district 11b. to 21b. less than last year On the other hand, the wool is soft and finer in quality and light in condition. Since the last mam sale on March 27. the wool trade has witnessed a slide in values, which few had anticipated. The trade is accustomed to fluctuations, and operators take their setbacks as part of the ordinary course of business, but never before has tlv-rc been such n recession in values, nor has the trade all round been faced with such heavy losses. From May onwards, confidence was gone, nnd all concerned in the wool industry were endeavouring to clean up and see where they stood. Matters are appreciablv better to-day, Smd th? corner has apparently been turned, but it would bo unwiso, after all that has happened, to look for marked increases in values. What is wanted is stability. Booms and reactions are no good in the long run. Profitable trading all along the process of manufacture nnd sale of wool and woollen poods will do more good to raw material in the long run. Whilst the bidding v-as n ood and above expectations to-day. it' was noticeable that several big operating houses from Bradford were practicallv silent. Confidence in the stability of the market can only be felt when these large customers ar? in the field again, and we shall welcome their return to activity. Tho prices realised al] through were very satisfactory, nnd in advance of London September parity. Despite the non-oneration of the houses mentioned, several representatives from Bradford were in the market and bought fair quantities. The Continent were securing mnnv tonmnking wools which usually go to Bradford. America was . nr.shing rm'etlv and paid excellent nrices for any suitable wools hut discarded any showing signs of tenderness. Growers generally seemed prepared to meet tho nosition. and we sold 94 ncr cent, of our catalogue under the hammer. Comrared with the sale of March 27 last, the following are the movements:— Merinos. 21<L to 3d. down; halfbreds.

2'd. to 4d. down; fine crossbreds, 46-l S's, 3<l. to sd. down; medium crossbreds, 11-4 G’s, 3d. to 4Jd- down; coarse crossbreds, 40-11’s, 3d. to id. down; low crossbreds, 3G-10’s, 2Jd. to 31d. down; lambs, 4d. to sd. doyn; bellies and pieces, to 2Jd. down; locks, Id. to I'd. down. Merinos wore taken by Bradford and local mills and sold up to 211 d. for average, and 23|d. for super. Halfbreds w-ere taken by France, Bradford and local mills. The top price ranged from 19Jd. to 201 d. for supers, nnd 151 d. to 19d. for average. Fine crossbred, 46-48’s: All super quality was apparently taken by America, many parc-ls reaching 17:1'1. and some of extra nice quality bringing more. Average grade went largely to the Continent at from 13Jd. to 15’d. Medium crossbreds. 41-4 G’s. were divided between America, Bradford and the Continent. Range of super was 14? d. to 16? d.; average, 13d. to MJd. Coarse crossbreds, 40-44’s: America took some of the best lots, but the bulk fell to Bradford and the Continent. Super prices, 13Id. to Mid., average ll|d. to 13-Jd. Lambs’ wool was all last season’s shearing and was not representative. It was competed for by Franco, Bradford, and local mills and realised up to Ifi’d. for the best. Bellies, pieces, and locks were competed strongly for by several sections from the Continent and good to super crossbred pieces realised ftmn Wld. to laid., and low to medium, GJd. to'lO:]d. ’ 1 The following are some of the results: Merino: AH, 7 bales, 203 d.; Patriarch, G bales, ISd.; Stronvar, 29 bales, 19(1., Down Cross: EDD. 3 bales, IGJd. Threequarterbred: Kaiwarra. 3 bales A 18Jd., 14 tales A H 17d.. 4 halos Mid., 10 bales H 15’d.. 7 tales 153 d. Halfbred: M O A, 3 hales 18'd.. 8 hales II 19d.; Maeburn, 3 bales Il'lS3d.. 5 bales H 183 d.. 5 bales IT IGld.: Kaiwarra, 7 hales A 19Jd., 3 bales 18ld., 11 bales Ifild., 5 bales 161 d. Crossbred: FIV E. G hales. 13d.;-J C/S, 4 bales. IGd.; Ongaha. 12 hales 173 d., 6 tales B 14d.. 5 talcs H 16hd.: AWA, 13 hales A IT 17]d.. 5 ba'cs IT 143 d.; B/Fernglen. G tales A M 7 Ifi'd., fi tales B Hid., 4 hales A H ISld., fi tales H H3d.: To Ngaio. 5 bales 14d., 8 bales H 13? d.; I'X( MC. 7 bales 19? d.; M O A, 19 talcs A 17Jd„ 21 tales B IfiHL. 3 hales C 13ld„ 13 hales TT 173 d.. 4 halos H IG3d„ 7 bales IT 183<1.; Rockglen/G H. 3 halos. 121 d.; Waiorongo, 7 bales. IGd., 4 tales 131 d.; NK/Waikanana, 3 bales 18ld., 7 bales 11, 173 d.; TUI. 8 bales, -13}d.: Brooklands/Tiranmoa, 41 bales. 14'1.: Kiri Kiri, 3 bales A 15ld„ 1G halos B 153 d„ 47 tales C 15d„ 24 bales D 13.W., 24 bales B H 15? d ■ Reiki. 21 halos. Md.: THR, 4 bales ISd., 3 talcs AH 14d.: FHR, 7 tales 11, 121 d.: Brackendale. 9 bales H 163 d., 3 bales H 16d.: A G P/Springhill, 21 bales H Mid.- .1 C/Takarau. 8 bales. 13Jd.; Sudbury, 14 bales, 133 d.; T/Waiana, 15 bales A 18?.d.. 17 hales B 16d„ 7 halos C 144 d., 18 bales D 13? d., 5 bales T34d., 4 bales AH 14}d.; Rewanui, 24 halos A ISld.. 11 hales B Wld., 4 bales C 13Jd.; CC/R2. 5 bales. 13Jd.: AVhare. 19 hales 13RL, 23 bales 13-ld.: Riverside,/C, 3 bales IQd.:1 Q d.: Fernyhursl/FBC, 3 hales, 13Jd.; P G .C. 3 ‘ bales, 17d.: RP/ F. 4 bales AH. 15RL; Tiraum.-a, 3 bales H, 15’<L; Sunnyside, 9 bales A IGd., 4 bales 143 d.; TE C, 3 hales 153 d.. 3 bales H>l6d.; F B/ M. 3 hales II IGd.,' 5 bales ISJd., Ifi bales IG-RL. 6 bales IGML, 6 bales H 17-Rl. 10 bales IT IGld., 8 tales IT 151 d.: ■Mill Hill, 6 tales IV Ifijd.. 1G bales E 15? d.: 7 bales H Mid.; —/Awatoito-. 9 bales A 173 d.. 8 bales IGld.; Bank View. 2*l bales E 173'1., 15 tales E 15-ld., 7 bales IT IGld.. G bales H 15d.; R B / M, 12 tales H, 13Jd.; J C / K. 3 bales, 12d.; Mt. Welcome 7 bales 11, 13;ld.: Kia Ora /LB, 17 bales, MJd.; Om-t, 7 tales A 13d., 3 tales B 13d., 11 hales ALT 14M.. 10 bales BH 13M-, 8 bales II I’d.; RM / S. 13 bales, 12? d.; BL/Makaraka. 5 bales .AA 17:}d.. 4 tales A 153 d.. 3 bales M W.. 14 Tales AAH 17W., 10 bales AH 15? d.; T AWA. 5 bales H. 121 d.; AW, 3 hales, 13d.; N IT I, 7 hales A IGd., 10 bales B 155<L, 7'bples 12? d.: M B / T, 3 bales A. 173 d., 4 bales B 17? d„ G .bales H 18J<L: WH.D, 11 hales AATT 143 d.. 5 bales AH 134 d.; HF/PB. 3 hales IS4d., 3 bales IRSd., 8 hales IT IGld., 5 tales H IGd.; Huia. 9 halos n 141 d., 8 hales H Hid., 3 hales H I°3d.; -O-, 21 tales A 173 d.. 11 hales B 153'1 . 5 bales C 133-d.. 4 Imlei AH 151 d., 4 bales BH 15’-d„ 3 bales H Md., 3 bales Mrl.; To Mun’a, ;3 bales A 1 34 d., 5 hales W 13d., 4 halos H 12 J d.; JCM. 4 halos AH 15’d., 8 bales H 15d.. 4 bales H 134'1-; Kaiwarra. 9 hales Ifi4d., 26 bales TT 153 d.. -5 hales 133 d., 12 hales 15’d., 10 bnles 133 d.. 25 bales 123 d., 8 bales 1-WrL, 8 bales 15d.. 5 ba’es 125 d.. 3 halos 13d.- JWTI •np-.e-aaj 4 ’ Ms n’fl T.ambs: To Nealo, 5 tales. 1?? rt.; •Kiri Kiri. 9 tales 15VL. 13 tales 1??<L; Wnl-Tfi/W.T, 3 ta’cs. 13’d.; Pn’-ennf'H, 4 halos, 144.: JC'A. 3 tales, 131 d.; HIT, 3 hales. IS’d.: C.lovel’v. 3 hales. IG’d.; Toko. 3 bales, 13d.: JFP/S, 3 bales, 123 d.; JCM, 7 bnles, 14d.; Kaiwarra, 5 bales, 13d.

MURRAY, ROBERTS AND CO., Messrs. Murray, Roberts and Co. report:—Our catalogue consisted of bales, tho bulk of which was new season’s clip, a quantity of held-over wool from last season being also shown. As might have been anticipated, the‘effect of last winter is apparent in many .ot the new wools, several parcels being somewhat short stapled, inclining to thin quality, 'and tenderness is prevalent, especially amongst the hoggets. It does not seem likely that the generally robust growth, which was such a feature of last year’s clip, will be evident in tho coming season’s wools. The principal competition came from Continental buyers, Bradford being content to be, for the most part, a spectator. French representatives were keenly interested in all lines of good skirtings, some of which realised exceptionally good figures. All lots of fleeces which showed tho finer qualities and styles were keenly competed for and sold well above expectations. A few lots of last year’s lambs were offered, mostly of low grade and seedy, and these found a ready sale, principally with the Continent. We submitted a few parcels of slipes which elicited keen competition nnd realised good prices, up to 21Jd. being paid for a throe-bale lot of Leicester lambs of good quality and fair length. Average lots of crossbred wools sold readily at round about 121 d. to Md. Very seedy and stained wools of last season were somewhat neglected; these do not open up well after being held for any length of time, and are not at all attractive. Among individual sales made from our catalogue are the following:—AVeraroa, Ryland hoggets, A 173 d.; TK in diamond, crossbred, HA 17? d., EA 16id.; AGM, Romney HA ,173 d. Bushlands over HR. lambs, 16M.; Kohatu over knot. Southdown, 17d.; Katengatena, crossbred HA, ’Gd.: Wellington, super crossbred, HAA 183 d.. super crossbred, WAA IGJd.. crossbred HA 16}d„ crossbred WA 153 d.; AMK, crossbred hoggets 17H-. crossbred _E 15d.; reversed E and S over Parorangi, Romney HA 17d., Romney WA 163 d., crossbred W 16d., pieces 123 d.: S * Sons over Parorangi. Romney hoggets 17d., Romney E IGld.. pieces 13d.; Hckenga, crossbred A IGld., crossbred B Md.; Gleniffer, Romnev WA IG-ld., Romney WB 133 d., pieces 12d.: Te Mahora, Romney rams A 17/d., Romnev EA 173 d., Romnev HA Mid.; G in heart, crossbred HAA 151 d.. crossbred HA 151 d.; T A U. crossbred E IGd.. crossbred AV and H 143 d.; FES over Mahua, Romnev hoggets 173 d.: Rewn, Rewa. crossbred AE Ifid.. crossbred BE H-l' 1 .: IT PG, Romney HAA 181 d., Romney AVAA 17-Jd., Romney HA 153 d., pieces lid. NEW ZEALAND LOAN AND MERCANTILE CO., LTD. The New Zealand Loan and Mercantile Agency Co., Ltd., report:— Decent cabled reports from overseas markets indicated the market as being in a much healthier condition than for some time past, and at the sale to-day competition was animated and keen for all qualities and types of wool . Purchases were mostly confined to the Continental section, witl? excellent support from America and Janan for all good l : ght conditioned wool. Local -mills competed freely for the choicest ibts, and the high prices at which these were ruling were due in no measure to their activity. Bradford operators were' very quiet, and lift o wool was purchased bv them. At the corresponding sale of last season t section of the trade bought the bull* of the ofi’orincr. but it was very noticeable to-day that the buyers who purchased so freolv last season did not hid at all. Wools this season are not nearly so well grown. # They are lieht in condition, of bright appearance. but somewhat short in staple, and although of fine quality are lacking m

robustness and density. This is no doubt due to the very severe winter experienced, as owing to the scarcity of Iced the wool has lacked nourishment. Tbe( company submitted a catalogue totalling aiwut 1100 bales, which met with good competition and realised very satisiactory prices, and wo sold about 95 per cent, of our catalogue. Some of our sales wero as follow: — Namoi, lambs, 15? d; t"’° braces, Boinnev XE, lad.; Percy Bros, over Teoreorc, old clip, fine crossbred H, 16d., Uomney H, ltd., Lincoln 12Jd., new clip, Komney li 15jd„ Boihney XU 13jd., Lincoln H 12d., Lincoln lljd.: Pergy/ Bowlands, old clip, Komney If 16jd., AAII 14jd., AAE 15d„ AE 12}d„ fleece 12d., lambs 14d.; PHG/Tawataia, old clip. Romney AAE ICd., AE 15Jd.. crossbred 14d.; Whatarangi/MAS, old clip, three-quarterbred lajd., 14Jd., 12Jd., crossbred fine 13d., rams 12Jd.. fleece I1}d„ 12{d.: Makiekie, lambs 12Jd.; Ikano. 12d.: T.angleydale, old clit% merino 20d.; Highland Home, new clin. Romney H 15’d., lambs 121 d.; JT/Omaka, Romney H 17d.; GA/Tipua. Romney H 17Jd., crossbred H Ifid.; Afatnikona, old clip, crossbred Tf I°!d. to 15d., crossbred E 15|d.; WG/K, new clip. Ron'ney H 17d., crossbred H ItJd.T - T T T. crossbred fine H l(>ld.: VT, crossbred II 14}d.: FK, crossbred 13jd. to 14Jd.; IK, crossbred 12jd. to 13d.; .TO.T, halfbred hoccets 1(kl.: Waimea, Romney 14d.; WRH. Romney Ltd.: DB/Af, rams UM.; Port Hardy, old clip, Corriedale . 164 d.. 18Jd.> fine crossbred 15d..; HTTv, new clip 14Hd.. crossbred 13d.: THH, Romney H 15d.. ewes. 14? d.; GA/Tinua, Down 184 d. Romney H IBM., crossbred ICd.: Ederdale. crossbred H 13}d., to 16d., fleece I°?d.; Tui, crossbred H 15$d., E 14d.; JB/T, crossbred H Hid,, ewes 134 - Wools classed by ns in store met with good competition, as also did new binned wools and interlotsj WRIGHT, STEPTTEVfioN ABRAHAM AND WILLI A AIS. Afessrs. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., in conjunction, report:—We opened the first sale of the new season’s series with a catalogue of 1340 bales. At the opening sales last year Bradford was making the pace: this year the position was reversed. the Continent absorbing most ot the wool, with America competing keenly for suitable lots and Bradford looking on. Local buyers wore in the market to a limited extent, and there was’ no buying by speculators. Competition was keener than was g morally anticipated, and as most growers wanted their wool sold we had no difficulty in clearing practically the wbo]e of our catalogue at very satisfactory prices. Reclassed and binned lots sold particularly well. Many clips showed thc effects of the wet winter and backward spring, hogget wool especially being : n many cases thin and tender. Owing to these causes and to a very considerable death rate in hoggets. it is anticipated that the North Island clip will be at least 10 per cent, be’ow last year’s.

Some of the best prices realised by us were :—

Pouthdowr: BHS, 16$dHalfbred: Challenge, 5 hales, 13d.; AFM, 9 bales, 18d.: Boulderbank, 4 bales, 17d Fine crossbred hoggets: T.andsend. 5 bales 173 d., 3 bales 17d.; JAI/Otaraia. G hales. 17.}d.: Snowdon, fl hales, 171 d.; GH/Y, 4 hales, 17Mf: Lindale, 8 hales, Ifild.; Challenge. 4 hales, 16Jd.; FWC, 1 bale, Ifild.: Auntsfield, 5 bales, IGJd.; K Bros.. 11 bales, IGd. Medium hogget: ,TAf/Otaraia, 24 bales, IGd.; W in circle, 6 hales, told.; JG/L, 5 Kales, 15d.; Pananni. 8 hales, 15d.; .Tno, 5 hales, 14M.: TIBM/OH. .3 hales. Uld.; TRS. 13 bales, 144 d.; TM/K, 3 bales. 141 d.; K Bros., 12 hales, 14d. Alodium crossbred: Landsend, 16 hales 171 d.. 17 hales 153 d., 4 bales 141 d.; Challenge. 8 holes 17d., 10 hales 143 d.: Lindale, 7 bales 161 d.. 19 hales 15d., 3 hales 14? d.; Wherenau. 7 hales 16d.. 11 hales V?d.; IVFM. 4 bales. 15Id.- Niriwai. 8 hales 151 d.. 4 bales 141d.t WR .'Tirotiro, 6 holes, Wd.; K Bros.. 03 bales, 141 d. Bellies nnd pieces: AVherehnii. 6 bales, 11d . K B 7 hales 1fl1d.: Otoroa/CA, 15 Lalos, 103 d.: I andsend. 9 bales, 10ld.; BCr/TTiwera. 7 hales, 104 d. Necks: Landsend, 3 bales. 15d. N.Z. FARAIERS’ CO-OP. The N.Z. Farmers’ Co-op. Distributing Co., Ltd., report:—The bulk of the wools offered were hardly up to the standaid, ruling last year, the weather conditions' making a good many ot the fleeces tender, and in many cases it was not well grown. Competition was fairly keen, but it was never animated, and was confined chiefly to operators from the Continent, buyers from Bradford generally holding off, and withdrawal of competition from that quarter does not portend a very rosy outlook. Even though, however. the absence of support from Bradford was no doubt badly felt, prices generally wero well in excess of those anticipated a week or two ago, and growers are to be congratulated on a better sale than was thought possible. Ordinary lots sold fiom a shilling to 14d., with good and slightly better lots at still higher values, and super lots in the neighbourhood of 17d. As might bo expected, where competition is not too general, a certain amount of irregularity was in evidence, but after all that applies in some measure to alj. auction sales. While the prospects foi- future sales are still in doubt, prices to-dav are at quite a payable 4ovel, and it is to be hoped that market fluctuations will not be too great later on. AVe would have been better pleased if the sale had opened up with competition a little more general, but at the moment of writing there is little indication that prices are likely to recede for some time at any rate. All catalogues djd not contain as many super lots as is customary at this sale.' due to late shearing and backward conditions in the country. However, sufficient wool is coming forward to lead one to believe thAt the clip generally will not be particularly well grown, and should be fairly light in condition, but there will probably be a shortage in weight all over. • The following are some of our best realisations :—JHD'Ngntawa, H A, 19d ; 800. AA. IGd.. crossbred 131d.’; .TB/Brooklands, E A A 16|d., E A 17d., E B 16KL, E IGd., pieces A 14d.; Afotu/Kowliai, H. 17d.; WR/Penrose, Lincoln, 12Jd. ; JH/Beaumont, Southdown, 18|d.; RRIT 15$d- R E H IG3d., Rdmney AV and E. 1G,1d.; ,TGW, 13? d., B 141 d.; EAB/NZ. 131 d.; Hautawa. 132 d.; TBH, H 15Jd., E Wd.- AC/F in diamond. Romney H, 16Jd.; Pakarnkn. H A IGd.. H B If*, I ]-- E B lf>jd E C 14M.; HA/Battlehill, rams 16JdL E A Wd.: Kamnno. IT A 171 d., II I«d., H B 14}d- B AA 1.1 d., E finp 14jd.. E B 13? d.. Smithdown lambs 163 d- ROD. crossbred fine 17Jd.. crossbred Ud.: ED/Opnki, hoggets 171 d„ E 161 d- FS/Tarnta, Cor. A 17Jd.. Cor. B 161 d. • Sandvford, halfbred IT 153 d., three-cuarterbred H 14d.: GP/P, H 14d., W 143 d.: AMK. ewes. 16d.; AVaikou, 153 d.; 800, Down, 17Jd.

WAIRARAPA FARMERS' CO-OR. The Wairarapa Farmers’ Co-operative Association Ltd. report:—Our offering was mostly crossbred from the Wairarapa and ‘ districts nround Wellington. We sold the bulk of our catalogue under the hammer nt satisfactory prices, fine crossbred realising up to 19d. per lb. (top price). ■. The following are some of our sales:— Crossbred.—Bonmore, 14dd.; SN/L, 12M-: Pahiatua/MA. 18Jd.. 15? - ltd., 13V1 • Nga-waowae. H/Bontwater, 13d., I2’d.- Pine/Grove, 16J<L, lfid„ MM., 13jd.: Omata. 16Jd., lid , 13}d.; Papatahi/JT, tod., 18d., rid • Kellys Creek, bld.; Rungahiwi, 16id.; X L, 15d.; TT B coni., 15d.; Limehurst, 15Jd.; W T under J 13Jd.; MB/ B IfiJd.J 151 d.. 13d.: JB/Apiti. 173 d., Ifi}d„ 16? d., llid.; ,T H C, 17d.; M, 1734., Ifid.; Various, Ifild., I+Jd.. ltd.; F. Smith. 12|d.; H G/F, lljd. Lambs—.T 0/t, 161 d.; TT/Bentwater, 153 d.; Kearoa, 131 d.: Te Rawn, 13 W. Crutchinps.—Pukeatna. lOjd., Various. 9Jd„ BJd., old. Bellies and Pieces.—Pine/Grove, IOJd., Nd.; Papatani/H, 13|d., Sid., 9Jd.; Varion*. Hid., lOct. 7Jd.

JOHNSTON AND CO. Messrs. Johnston and Co. report that they submitted a_ fully representative catalogue of wool from the Wairarapa. Feilding, Manawatu,' and Marlborough districts. The offering on the whole was not up to the standard usually offered in November. The condition of the. wool shown was lighter, and the general growth thin. All lots of fleece which showed the finer qualities and stylo were keenly competed for, and sold well above expectations. A few lots of las year’s lambs were offered, mostly of low grade and seedy, aAd these found a ready sale, principally with the Contmcn . Average lots of crossbred sold readilj at round about 121 d. to ltd. Very seedy and stained wools of last season were somewhat neglected; those do not open up well after being held for any .lengthof time, and are not at all attractive. Ser»o of' our realisations wore «s follow: over NA, Romney rams. 113<l.: U Romney hogfrets. 151 d.: P over R A > over O. halfbred 20)d.. Uno crossbred W.A. 17d„ fine crossbred K IfiJd., crossbred TT 113<1.. crossbred Mid nocks Ud„ first nieces 133 d.. bellies iHd.. locks fiM.. E.H.W.. halfbred, 193 d.; R A S over T. Romney rams 15ld„ sup. erossbrod W. 1 . 171 d., crossbred H IGd.. crossbred CIo. I 17d„ nocks 133 d.. bellies 113 d . fine era ebred A 183<1., sun. crossbred TLB. IMcrossbred W. 153 d.. crossbred 13? d„ first pieces 12ld. second pieces llld.: Awawaro. fine crossbred ILA. 1 .. crossbred D 123 d.. first pieces 12d fine crossbred WJL Ifik - necks Wd., T, tbreo-quarterbred 16d-» oeUies lOi •

Following is the range of prices s— Nov. 16, 1025, sale. Mar. 27, 1025. sale. d. d. d. , d. Merino. 64/70, 60/04— 231 Super 21 to Average 221 to 24} 20 to 21} ■■ •16J to 19 Fine Halfbred, 56/58— 20 Super 19i to Average ••••••• 16} to 19 Trtfrmini* ...... 16 Medium Halfbred, 50/56 — 20} ■ . Average 191 to 23 151 to 19 Inferior 15J to 17} 15J Coarser Halfbred, 48/50 — 23} Super ......... 22 to 1T ? to 19 Average •••••<• 17 to 20 14} to 17 Inferior 15 to 16} 12} to 14} Corriedaie — 19 to 15 to 22J 18} 46/48 — Super 191 to 23 16 to 17} 17 to 19} 13} to 151 Inferior 13 to IB 11} to 12} Medium Crossbred, 4 H/4G— 14} 16} Super 19 to 21 to 15 to 181 13 to 14* inferior 12} to 14} 11 to 12} Coarse Crossbred, 40/44— 19} 13} 174 to to 14} Average ...... 15 to 17} Hi to Inferior 11} to 14} 7 to 11} Low Crossbred, 36/40— 10 to 17 Average ...... 15 to 16 11} to 12} Inferior 12 to 14 6J to 11 Hoggets, 48/50— Fine 46/48 .... 18 to 23 14} to 18} Medium 44/46 .. 17 to 20} 14} to r<i Coarse 40/44 .... IB to 10 12} to 16 Low 36/40 —’ 12 to 14 Lambs— Down 50/56 •■••• 17} to 23} 15 to 16} Fine 44/50 16 to 22} 12} to IGi Medium 40/44 .. 15 to 18 •— Seedy and inferior 8 to 14} 6 to H} Bellies and Pieces — Merino: Good to super .. 17} 14} to 16} Low to medium Halfbred: 15 141 to 14 to 14} 18} Good to super .. to — Low to medium —— Crossbred: Good to super ... 11 to 17}' 11} to 15 Low to medium 8 to 11 6} to 10} Crutchings— Medium to good 9 to 13 8} to H} Inferior and seedy Locks — 6} to 8 to 7} Halfbred 8 to 9 —— Crossbred • •••• 6} to 7} to 6}