WANGANUI WOOL SALE

Dominion, Volume 23, Issue 104, 27 January 1930, Page 18

WANGANUI WOOL SALE

BIG DROP ON AUCKLAND HEAVY WITHDRAWALS Dominion Special Service. Wanganui, January 24. Interesting sidelights on to-day’s wool sale are afforded by the following reports of brokers: — Wright, Stephenson, ami Co.. Limited, in conjunction with Newton King Ltd., offered n catalogue of 436’1, bales. A most unsual feature was the larger number of withdrawals before tlie sale commenced, which plainly showed that growers were not prepared to accept the low valuations that were handed to them by their selling brokers. It was at once apparent that a serious drop on the recent Auckland sale was to be expected, and this was realised to the extent of Id. depreciation. In comparison witli the recent. Wanganui and Wellington sales the prites showed a depreciation of 4Jd. anil 2}<l. respectively. "At no time in the history of wool sales in Wanganui have so many lots been passed it There was no indication whatever of tlie sudden fail in tlie market, and as ours was the first catalogue to be offered we h-id no time to advise our clients of this sudden drop. As it was. many growers absolutely refused to accept such low prices as were offered. Tlie bidding at no time was animated, and was very erratic throughout tlie sale. Towards the end it was evident that many buyers had tilled their orders, with the consequence that the prices weakened somewhat. “The bulk oi’ the buying went to brailford the Continent securing quite a fair proportion. The state of the wool market is so demoralised, anil the outlook so obscure, tltat growers had much difficulty in deciding whether to sell their wool or hold it over, and brokers were helpless to give any a’dvice in the matter, as it is by no means certain that prices will not decline further.” . ■ Following are some of tl‘o ivrtccs —Mongomni. HAA S]d.. HA 1:,d.. BAA Sid 'HA7S<I KB 7d. SKTEA. 75d. IIRWW. 7 d? JSCE. TWM, B 7!d. ZFW. II SX/WH. crossbred, 7111. RJM. crossb'red 7-id. EVE. EA 7d.. EB 7d. Makuku, ILA Sid. HB 7d„ A 7?d.. B 7Jd„ C Old., bellies 3ijd.. A pieces Bid.. B Pieces ’_:,d., Ibs. 6}<l., lbs. B sd. Huia/AS. BAA 7j<l„ KA 7?d.. BB Old. Tanina. ET 74i1. GCIt, E 7il. M and-MA, 7-ld., B 7}d. M&P, E Id. MK/K. H 7d., E 7i<l.. lbs. 7d. Topaenga. HA S4d.. HB 71i1.. WA Til.. EA 74d., HB 71d . necks sd. Barham. HAA 7}d„ EA 7-]il., WAA 7(1., WA 7(1. DDT. Il 8-Rl., E 7sd., lbs., 83d. WJT/T, Ibs. SRI.

Only 35 per cent. Sold. Dalgcty and Co., Ltd., offered a catalogue of WOO bales. “From the growers’ point of view the result was most disappointing, tlie prices recorded being tlie lowest this season, and tally Jd. per pound below Auckland. This was iu sympathy with the opening of the January series in London, when crossbreds showed a depreciation of 20 to 22} per cent, on December rates. As compared with the November sale in Wanganui, prices showed a decline of from 3d. to 4tl. per pound. Bradford were the prinoipal operators, witii Germany buying' sparingly, while Franco was interested as usual in lambs of good quality. Passings ’were exceptionally heavy, and we estimate that only 35 per cent, of all, offerings was .sold.? Levin and Co., Ltd., report tliatxas was anticipated, the downward tendency continued, and to-day’s prices can be quoted at }d. to }d. lower than Auckland. “Following the decline subsequent to the forwarding of our valuations, and prompted by our London cable appreciating.' a further drop, we communicated with our clients yesterday morning on the fresh basis of values. This resulted in saleable reserves being received, and we had a 73 per cent, clearance under the hammer. Our. contribution'.to the total offering comprised 1848 bales, after allowing for withdrawals. These in our catalogue were very few, the majority of growers deciding to meet the market. The condition of the wool offered,-ns in the earlier sale tin's season, showed indifferent growth, and wools, which are usually offered at tlie January sale suitable for America were not iivailable. Bradford were the principal buyers of fleece wool, with the Continental limits,'slightly behind them. Germany pushing them for lots'suitable to tlicir requirements. France, as usual, lifted a-fair proportion of tlie better grade lambs' wool.. Compared with our November sale, prices ■declined for all grades frm 3ld. to 4d. ■‘The following are some of our realisations: . JS/Braeburn, 9 bales 15 Bid. HFA, 4 bales AH SJd. Ikitara, 10 bales E 7d„ 9 bales W Old. HFA, 4 bales AH Sid. Ikitara, 7 bales H 7i<l. FB/0, 11 bales E 74d. Redcliff, 11 bales A Bil. NFM/T, 5 bales AA 9d., 16 bales B .6Sd, NFM/T, 35 bales A Bd. Akarana. 11 bales first E 7-ld. NFM/T, 27 bales B 7:|d. Akarana, 8 bales E and H BRI. NFM/T, 4 bales AAH SRI. Akarana, 4 bales first H 7}d. NFM/T, 17 bales All BRI. Mountview. 59 bales BE 74d. NFM/T, 4 bales BH 7id. Mpiintview, 24 bales CE 6Sd. NFM/T, 12 bales lbs. 10R1. Mountview, 7 bales .DE 6(d. AGS/Glcnmorven, 34 bales A 8d„- ditto 13 bales B 7il. Tauporae, 19 bales E 7d., ditto 6 bales II 7jd.. ditto 8 bales,A 7d. MM/Porau, 24 bales A 7:1d., ditto 12 bales B 6d., ditto 33 bales 7(1. filtßC, 4 bales E 7RI. A.J.R, 17 bales E 7}d. A.J.R., 4 bales H 7(1. Otupawa, 20 bales E 7RL, ditto 8 bales H 7Jd. Seaview. 21 bales E Old. Rangiora. 11 bales E 7jd.. ditto 4 bales B 6RL. ditto 4 bales lbs. BRI., ditto 4 lbs. Bid. Kaliui, 13 bales AE 7}d.. ditto 4 bales Ibs. Bld. Mountview, 8 bales AAH Bd.. ditto 31 bales AH 7}(1.. ditto 16 bales A lbs. BRI. TeKainga, IS bales crossbred 6}d. CN/Turak. 7 bales A lbs. 9(1. RHS/W, E 6Jd. Tutu. 15 bales AA 8ld„ ditto 25 bales A Bd., ditto 7 bales B 7(1.. ditto 6 bales AAH Sd., ditto 8 bales AH 7}d. Ngahere, 7 bales A Bd., ditto 12 bales H and B 7R1., ditto 5 bales lbs. 9RI. A 7, 9 bales E 6d. Rcnagour. 7 bales H 7Jd. Ngalierc, 4 bales AH 7}d.,

Future Not Bright.

The New Zealand Loan and Mercantile Agency Company Limited report ' that of their catalogue, which comprised 3173 bales, 280 bales were withdrawn prior to the sale. Of the balance, they sold 85 per cent, at prices slightly tinder those ruling at Auckland earlier in the week. At the commencement of the sale bidding was Inclined to drag, and very little animation was in evidence, and passings were very heavy, in fact quite GO per eent. of the offering was passed in. Comparing prices with those ruling in Auckland, .they may be quoted about Id. lower for fleece wool, but bellies and pieces and lambs’ wool were slightly firmer. "On the whole, the wool opened up in only fair condition, and many slips were spoilt through being unskirted and carrying a lot of seed. It was noticeable that owing to the adverse weather experienced in the spring, nearly all hogget wools were showing the effects of the bad season, and were very tender. Taking into account the gloomy advices received from London , re the sale which is in progress there, we think prices realised here yesterday must ' be considered in advance of London parity, and we think the growers who de- , elded to meet the market were right, as the outlook for the immediate future Is not bright* "For flceee wool our best price was Slid, for seven bales hoggets branded MD/ Taurimu, and for 4 bales A branded GWB/ Moawhango Btd. was paid. Another line of four bales HA branded WGW/X realised Btd.; six bales branded DSG/T, AA wool, made 83d.; seven bales HA wool branded Aranui, also realised 83d, and oulte a number of .other lots made from Sd to Bld. For lambs' wool our best price was Hid. for ten bales branded Mt. Zion, while another line of four bales branded DML/Taurlrnu brought Old, and four bales branded TH/N realised Old. The following arc some of our othm. Sa FL, : *H 7}d.; .H & S, HAA 7}d„ AA B}d . v Bd-; GH/Ruapuke, II withdrawn. W withdrawn, E withdrawn; GLH, E Gid ; Awatea, H & W 03d, passed; Ouckc, LA withdrawn; LH, ,HA . 73d, lbs. A 7_td, passed; C & W, HA 8d„ WA 73d, EA 73d ; V HHAA 81d, HA Sd, AA B}d„ A 7jd, lb’s AA, 74d.JDC, W 7d.; HLP/Woodlands, H 7d„ passed; Parapara, A A HA 71d, passed; JL/Taoroa, H 7d.; AML/ Riverlea, H & W 73d, E 7id„ lbs. Gd, passed; JJ/Westview, H 7d, passed; Birdt'rovo, HAA BJd, HA 73d. passed, AA B}d, A 7Jd ‘ G in circle, E Gd.; .TH—S, W Gd. passed; ATI, A, withdrawn; W and G/Malre. A 7(1.: VLP/Everest, I 7d. passed; SRC/S, crossbred bd„ passed; x’BF/S, crossbred, 6d. t passed; Barra, II Gd, passed; Pukeroa A 7d.; JWB, II Gjd, -’ir E 7^ 0 .; a DME/'niurimi., 7 H : A e'd WB 71d EA Bd, EB <id, lbs. A ri i ’• Rtiakiwl HA Sid., A 73d.: KW/W, H Cl*’:’ "K/H, W GJd.; . JBM/9G, E GJd ; S/Whaka, H Gd.; Tuimana, H and E bjd, n.icsmd* Owens, EA GJd., AO, A (Id.. RC/W E 63d.; MBS, E 63d.; lIPW. H wUhdrawn E and rams withdrawn; J'p/W HA Gid.; To Raupo, E Bid.; DSG/T, AA 83d, A 7id.; JS/P, H Gd, missed, E 7d.; HJ/P, crossbred 6yL; Pnkehau. H Gd, E and rams Gid.; GHj, A 7d • Tonui/M HAA 7d.; RWS, crossbredl Gid . passed; SA, A Gid, B Gid.: F reversed — Haehanga, A 7Ad„ B Wy 1) 63d ' -I CM, H withdrawn; PR/Matan I i’ w fid missed: 2W/WGW, 11 and I'l sVd, passed ; P NB/Alfa, H and E 63d.; B,

EA withdrawn; OH, A Bd., passed; MC7 Adare, H and W 7d., E 6}d.; RTB/ Ngatarua, GWB/Moawhango, HA 7d.. passed: RTB/Ngatarua, EAA Bd., EA 7}d.; RTB/MoaW'hango, HAA and HA 7(1., passed, EB 7d., first lbs. B}d.: RIB/ Moawhango, GWB/Moawhango, EA 7}d.: WG/Ludgate/Hill, E 7d.; JLC, H o*d., passed, Romney 7ld.< Lincoln 6Jd., passed: PCM, H 6(1.; AD, E 6}d.; To Rimu, H 6d.; TH/N, HA S}d„ HB 7d., A Bd.. Lbs. A Did.; GWB/Moawhango, A Sid.; TK/M. L 6d.; JK/O E Gfd.; CV/E, E 7d.. passed; Ohoroa, A‘(id., passed; 6K. EA 7d.: WHS, H 7(1,, W Mil.; AGS. E 6}d.; AM A/M. H 6?d. ;‘.GPW, Lbs* 6d., passed; Ohoe/FC, IT 7<L. W and KA 7d.; LPS, Dwn., 72<L: JGC/Waihapai, H «}d.; GT over P, AA 74d„ A 7Sd.; Kahuron/ALR/M. A id.; Tantii. H and E 7d.: Mt Zion. EAA 7Jd., EA 7d.. Lbs. A HJd.: KAKA/E and JB, H. withdrawn, WA withdrawn; JFF/O. DXH withdrawn, HAA withdrawn, A mid AA withdrawn; MD/Tauritnu, II 9}d., WA 8(1.; WGW/X, HAA Sd.. HA SJd.. A 7}d.; WW, E 6}d.: B/ARI, HAA 7{d.. WAA and EAA 7d.. WA and EA Gid.; Wiritoa II 7td.. E GJd.; TIIC, II 6}d., passed; Rahui, H 6»d.; Runpirau, 11 7Jd.; Rotowhero, WA and HA 5<1., passed.