THE WOOL MARKET

Dominion, Volume 26, Issue 70, 15 December 1932, Page 10

THE WOOL MARKET

Prices at Christchurch QUALITY IN DEMAND Good Values for Super Lots KEEN LOCAL COMPETITION Dominion Special Service. Christchurch, Dec. 14. The first Christchurch wool sale of this season’s series was held today, the auction being continued till 11 o’clock this evening. The spectators’ gallery was packed with farmers and others. Under the conditions prevailing, the sale was invested with much more than usual interest. There was a full bench of buyers, including strong representation from local mills, which had a dominating influence on the competition for super wools. " Tlie catalogue, which consisted of 25,000 bales; was fully up to the standard of the offering at the first of the season’s sales and contained some stylish wools. Prices over the first part of tlie sale were disappointing. Little was expected in regard to the demand for crossbred, and expectations were completely realised as the demand was poor in the extreme. Fortunately the catalogue contained only a small proportion of the lower grades. Based on Wellington prices for the small amount of ordinary halfbred brought forward at that centre, a better standard of values was expected to-day for 50-58 wools. A big proportion of these wools ranged about 9d, which it was confidently expected would be near lOd. Only super lots, however, made prices in excess of lOd until after the sale had been about a couple of hours in progress. The local mill representatives, who generally sec the pace for high quality wools, were more restrained to-day in the early part of the auction, and showed very little disposition to pay fancy prices. After the tea adjournment, however, some outstanding clips were offered, and the matter of a fraction or so did not stop the local mill representatives in their competition. The good prices they set seemed to have set a stimulating effect on competition generally, for the higher quality wools, and there was an advance of from 4d- to id. for this class. As an illustration of this the top-priced R>t of one particular clip early in the sale made 10}d., and later in the day a similar classing of the same clip sold at 12d. For wools that did not come within the top category, tlie improvement was smaller, but for this class the benefit of local competition was not present. Coarse wool met with a dragging sale, anil on occasions a bid was elicited with difficulty. The best of the crossbred sold at 4d to sd, but the bulk of it ranged from 21d to 3Jd. Purchasers of it were well distributed. The Continental representatives secured the major weight of wool, France in particular being prominent, witli German and Belgian operators also coming freely into competition. Bradford secured a good proportion, and as stated, the local mills set the pace for the good and super wools. Passings were heavy in the first two catalogues." comprising somewhat over 1100 bales in a total of 8000 in these catalogues. The selling proportion improved later, and passings as a whole ranged about 10 per cent. Range of Prices. The range of prices is as follows:— d d

Merino— Medium .. .... n .... G to to 9 Corriedale— Super .... s to 10} Medium .... Si to to 8 Fine Halfbred — Ex super .... 11} to 1-5 Super ... 8} to 11 Medium to 94 ... 63 to 7i Medium Halfbred— Super .... Si to 10} Medium ... 7} to 84 ... 5* to a Coarse Halfbred— Super ... 7} ... 5} I < * to Inferior .... ... 4 to Three-quarter-bred— • Super - .... 6 to 5i Medium .... to .... 2* to 41 Medium Crossbred— Super ... 4 to Medium ... 3 to 32 Inferior ... li to Pieces — flood to 8} Inferior to average ... ... 3 to 6 Bellies — to 7 Inferior to average .... to 4i Cru telling* — Medium to good ... 3 to 4} Inferior . ... 15 to Locks — Best ... 2 to Xi Inferior to medium .... ,. . . 1 to li