LOW-PRICED WOOL

Dominion, Volume 24, Issue 64, 9 December 1930, Page 10

LOW-PRICED WOOL

First Wellington Sale

WELL-SPREAD BUYING Many Withdrawals No improvement in prices, heavy last-minute withdrawals, frequent passings at auction, and animated competition within very restricted limits were the outstanding features of yesterday’s wool sale at Wellington. Starting promptly at 9_a.m., the sale proceeded with great rapidity and was all over shortly after 1 o’clock, even though at times there was a noticeable lagging in the bidding. At other times there was very animated, almost frenzied, bidding for attractive lines that wen much wanted, eight or ten gesticulating and shouting buyers being on their feet together, but when the line was knocked down the price was 4Jd., 5d., 6d., or a little more. Very seldom was there much bidding above 7d. The highest figures were reached for a few lots. of merino wool, eight bales of A merino ewes selling at 10d., while eleven bales of super comeback, “Fyvie,” made 10|d. Other Marlborough lines of similar descriptions made 93d. These wools were of superfine quality, very light in condition, and were purchased for local mills. A Short Catalogue.

Although the New Zealand Wool Committee originally fixed a limit of 30,000 bales, including 5000 bales of “carryover” from last season, the total quantity catalogued for yesterday’s sale was only 18,040 bales. Heavy withdrawals, including those announced by each broker’s seller from the rostrum, reduced the offering to about 16,500 bales, while passings as the sale proceeded were fairly heavy. One firm which offered 5340 bales sold about 4300 bales at auction. There was a good deal of comment regarding growers’ withdrawals after brokers had sent out their valuations. Buyers, too, who had spent much time, in appraising the wool expressed something more than disappointment with their wasted efforts due to the ■ eleventh-hour withdrawals. While growers generally appear resigned to meeting the market at the present low rates ruling, there are those who seem determined to “hold.” The quality of the wool offered yesterday was below the average and showed clear signs of the unfavourable winter and spring weather conditions. Wool held over from last season showed up unattractively, much of it being stale in looks. Buying Well Spread.

There was a full bench of buyers. Competition was well spread . within closely restricted limits. Buying was, on the whole, more general than at Auckland, Wanganui and Napier. Dominion mills took the merinos and shared the better halfbreds with France and Bradford. America competed freely for super crossbreds, but Bradford and Canada appeared to be the principal buyers in this section. Of the other lines Bradford took all they wanted, but the Continent, especially Germany, took the lion’s share. France appeared to be buying a little more sparingly. There was some buying for Japan and it is said that some wool was taken on behalf of Russia. Not much lambs’ wool was offering and France and Dominion buyers took most of what there was. Good super crossbreds ranged from 59d. up to 73 d., average crossbreds from 4}d. up to 63d., lambs 43d. to 6Jd , with seedy and inferior lines 2d. to 4d. Bellies and pieces sold from 13d. to 53d., locks Id. to 2d., and crutchiugs Id. to 4}d.

On the whole prices were on a pai with those obtained at Napier last week. One broker, however, expressed the view that, taking into account the relative qualities of the wool, the market yesterday was a shade easier than at Napier and AVanganui, though there was not quoteable change in values. Others regarded yesterday’s sale as somewhat lagging at times. A Comparison of Prices. The official range of prices at yesterday’s sale, with the closing rates of the 1929-30 season made at the final AVellington sale last April are given in the following comparative table: —

April 10. Dec. d. 8. d. d. d. Merino, 64/70, 60/64: Super Average 8} to 91 9 to 6 to 4J to 10 St 51 Fine halfbred, 58/58 .Super Average 81 to 91 8 to 6 to 41 to 81 73 5} Medium halfbred, 50/58: Super — Average 8J to 101 None offering 0 to 71 Inf p ri or >■■■•• Corriedale: Super •••••«•• None offering Average •••••• 9 to 11 None offering Tpforlnr 7 to 71 None offering Extra fine crossbred,48/50: It 2 “1 61 to 5 to ll 6} 7 to 8 4 to 4} Fine crossbred,46/48: Super 0} to 101 91 61 to 41 to ll ft 64 to 74 31 to Medium crossbred, 44/46: Super • to 01 9 6 to 41 to 7* 52 V Jf 3 to Coarse crossbred.40/44: 84 5J to 61 Average ...... Tnforlnr 74 to 6’ to 81 71 4| to 2| to Low crossbred, 36/40: Super 8i to Si 8 5 to 31 to F Inferior ...... Hoggets. 48/50 .. Fine. 46/48 .... 5} to 8 to 74 to 61 9i 94 21 to 51 to 51 to Medium, 44/46 , 74 to 9 Coarse, 40/44 .. None offering 44 Low, 36/40 .... None ottering Lambs: Down, 50/56 .. 8 to 8 to 91 104 6 to 44 to 63 61 Medium, 40/44 None offering Seedy and inferlbr, all grades Bellies and pieces: 4} to 7 2 to Merino— 5 Good to super None offering 3 to Low to med. . None offering Halfbred — , Good to super None offering 34 to 5i Low to med. . None offering 2 to Crossbred — Good to super 54 to 71 3 to ■ji Low to med. . 31 to 5 1$ to Crutchings: Med. to good . 4J to 0i 3 to 41 Inf. and seedy 31 to 4i 1 to 2i Locks: N one offering Halfbred .... None offering Crossbred .... 2} to 31 2 Further details of the sale will be found on page 14.