THE WOOL MARKET

Dominion, Volume 24, Issue 58, 2 December 1930, Page 14

THE WOOL MARKET

Napier Sale To-morrow BETTER TONE LOOKED FOR Napier woolbrokers will hold the first sale of the season to-morrow, and a slightly more cheerful note is likely to be struck in that centre. There is an expectation that even if there is not an improvement in prices the tone of the market will be more encouraging. The wool to be offered at Napier will be better all round than the offerings at either Auckland or Wanganui, and for this reason buyers are certain to show more interest. Furthermore, the latest advice from Loudon is to the effect that the market shows a good tone with competition general and improved. Greasy crossbred shows a hardening tendency. The closing sale at Napier for the past season was held on March 24, and the prices realised for average quality of wool of the various grades were as under: —

Writing with respect to crossbreds about the end of October, a Bradford correspondent said: “The situation for crossbreds is most difficult to Interpret.' Confidence has been largely shattered by the fact that more than 100,060 bales of old wood will have to be sold at the new auctions. The demand in. Bradford is practically nil. Slipes are in heavy supply and Home wools are cheap. Germany has been fairly active owing to cheap values.. Everybody thinks they are too cheap, but dare not speculate. These coarser wools must, however, find new outlets at these low prices, and It Is hardly credible that they can go much cheaper.' The most disturbing fact is that the credit position is difficult. Further failures in Germany have been reported, and there is great nervousness in Yorkshire and hesitation in selling freelj'. Accounts are being keenly scrutinised. and the banks are restricting credit severely. Happily there is a feeling that we are scraping the bottom in the values of wool, and of many other raw materials, and that the improvement In general trade conditions is not far distant.” CURRENT PRICES / German Buyer’s View Dominion Special Service. Auckland, December 1. “They paid too much.” This was the frank comment of Mr. Otto Sommer, a well-known German wool buyer, who arrived by the Aorangl yesterday. He was speaking of the prices realised at the reeent wool sales in Auckland and Wanganui., “It is a result of world depression,” he added. “We do not like to see these low prices any more than your growers do. We lost money last year, and nobody knows what will happen this year.” Asked if the manufacture of synthetic wool had anything to do with the matter, he replied: “Nothing at all. It is the world-wide slump—nothing else.” Mr. Sommer left by car for Napier to be present at the wool sale there. SYDNEY WOOL SALES Market Very Firm (Rec. December 1, 9.45 p.m.) Sydney, December 1. At the wool sales to-dav the offerings were 10,716 bales, of which 9992 were sold at auction and also 675 which were disposed of privately. The average price of the wool sold last week was 8.3 d. per lb. The market to-day was very firm. Competition was strong on Japanese and Continental account with a limited inquiry from the United States. Greasy Merino made up to 21d. The average prices for the last seven weeks of the season’s sales have been 8.5 d, 8.2 d., 8.2 d., 7.8 d„ 8.3 d., 8.3 d. and 8.3 d. per lb “RATHER MORE DOING” Improved Demand for Butter Joseph Nathan and Co., Ltd., have received the following market report from Trengrouse and Nathan, Ltd., London dated November 29:—New Zealand butter: Finest, 102/- per cwt.; finest, 160/-. New Zealand cheese: White, 60/-; coloured. 58/-. Rather more doing at these prices. .Samuel Page and Son, London, report to Dalgety, and Co.. Ltd., under date November 29: —Butter: Better demand; quotations' unchanged. i . s i LONDON MARKETS High Commissioner’s Report The Department of Agriculture has received the. following cablegram, dated November 29, from the High Commissioner for New Zealand. London:— Tallow.—No auction will be held until December 10. Spot market quiet and steady ,and more interest shown for shipment. Quotations unchanged. Eggs.—. Stocks heavy and demand quiet for all descriptions at lower prices. Present quotations are: —English national mark. 17/- to 28/- per long 100; English ordinary pack, 21/- to 25/-; Danish, 20/to 22/-; South African, 11/9 to 15/6; Australian, 12/6 to 15/-. Hemp.—Manila market quiet but steady. A grade January-March shipment sold at £22/15/-. .Sisal: African steady: business has been done in first grade, fair average quality. January-Marell shipment, at £22 Ju/-; Mexican nominally unchanged. New Zealand: Smll business has been done In fair grade, November shipment, at £23 <)/-. and In common grade November-De-cember shipment at £2l/10/-. Wool.—iSaßjs continue with increased competition. Opening rates fully maintained. EVPORT LAMB PRICES Cut in Hawke’s Bay By Telegraph.—Press Association. Hastings, December 1. Ibis morning the meat exporters o£ Hawke’s Bay announce a decline of stock prices on the hooks nt the local works as follow: Lamb, from 7id. to fid.; first grade wethers, from 19/- to 17/-; first grade ewes, from 11/- to 8/6. RAW MATERIALS Markets Steadier London, November 29. Friday’s closing prices for the following raw materials were as follow, those for November 22 being given in parentheses:— Cotton.—Liverpool quotation, American middling upland, December delivery, 5.58 d. per lb. (5.73 d. 1 Rubber.—Para, (ltd. per lb. (6d.) : plantation smoked. 4 0-16(1.-per lb. (same). Jute.—December shipment, £l6/5/6 per ton (£l6/2/6). Hemp.—None offering. Copra.—December shipment, South Sea, £ls/15/- per ton (£ls/10/-): plantation ttabaul. £ls/17/6 per ton (£ls/15/-). Linseed Oil. —£27/10/- per ton (£27). Turpentine.—Bs/0 (80/84-

d. d. Halfbred, 56/58 to lot Half bred, 50/56 to lit Crossbred, 48/50 . 7 to Si Crossbred, 46/48 . 62 to 8 Crossbred, 44/46 . 05 to n Crossbred, 40/44 G* to Crossbred, 36/40 6 to 7 Hoggets— 4R/50 ...... 7i to 9-f 46/48 61 to Si 8 44/46 ej to 40/44 6 to 7'1 7 ' 36/40( up to to Lambs, medium Pieces, good to super 7 to 94 to 6{ Low to medium 3J to 4J