WOOL PRICES RISE

Dominion, Volume 26, Issue 104, 26 January 1933, Page 10

WOOL PRICES RISE

Sal© at Christchurch “BEST FOR TWO YEARS” Some Fierce Competition EFFECT OF HIGH EXCHANGE By Telegraph—Press Association. Christchurch, Jan. 25. It was expected that the hardening that has been in progress this last month in fine wool values, and the advantage of the increased exchange, would be reflected in a much better sale to-day, when the second auction of the local series was held The expectation was more than realised as values appreciated by an average of 2d. per lb. on fine wools, and from Id. to lad. on crossbreds. It was much the best sale since the collapse of the market two years ago. The better demand generally for wool was responsible for about Jd. of the increase, and the exchange for a full lid. The crossbred wools also improved—naturally not to the same extent on the lower scale of values —but apart from the factor of the exchange they were in definitely stronger request than at the first sale. Buying points appeared to be widely spread. The Continent, particularly Germany and Japan, secured most of the catalogue sold for abroad, but local mills were keenly in the market for all super lots, and prices were paid reminiscent to some extent of the pre-slump days. Competition was fierce at times, and much more elasticity was noticeable in buyers’ limits. The offering comprised 25,000 bales, and was representative of the best clips in the province. A feature of the sale was the consistently keen demand for medium halfbred wool." In the first two or three hours there were only occasional lots that failed to make nearly 9d. A big quantity of wool sold at the first auction at this figure, but to-day this class brought lid. to Hid. Another noticeable feature was the keen demand for the better pieces. These appreciated in value very markedly, a big proportion of the better sorts selling round about 9d. The bulk, of them went to Continental buyers, but local fellmongers secured a share. Representatives of local mills set the pace as usual for super wools, and a big proportion of the dearest lots fell to them. German and French competition was marked for all grades, and it, is understood that there was a good deal of buying on Japanese account. Bradford competition was much less' marked. There were some exceptionally good clips of Corriedale offered, and this class topped the market in the second catalogue offered. Four bales of ewe (Garrymere over . Rydal Downs) were sold to the representative of a local mill for 14Jd. The previous clip offered (Rydal Downs) included an eight-bale lot of ewe which went to the same buyer at 14d. The Rydal Downs fleece lots averaged from 12’d. to 14d. The best price for halfbred was 13? d. Fine pieces showed a striking'advance,' ranging from 2d. to 24d. As evidence of the keen character of the sale, less than 200 bales were passed, a record at local auctions. Following is tiie range of prices, compared with the December sale:— Range of Prices

December. January. Merino— d d d d Super 9 to 91 101 to 11 i Average 7 to Sj 8f to lOi Inferior 5 to GA Gi to 8j Corriedale— Extra super .... to 12 13 to 14J Super !)} to 10$ iii to i2i Average 7i to 9 10 to 11 Inferior G" to 71 8 to 9} Fine, halfbred— Extra super ... to 121 to 13i Super 91 to 101 11 to 12 Average S’ to 9.1 9J to 10$ Inferior 8 to Medium halfbred— Extra super ... to 10} to iii Super 8$ to 9i 10 to 10$ Medium Inferior 5} to 7 7 to 8} Coarse halfbred— Super Ci to 8 S ■ to 9 Medium to 74 Inferior 5 to G Three-quarter-bred— Super 51 to Gi to 71 Medium 4 to 5 Inferior 21 to tit 4 to 4i Medium crossbred Super 4 to .->) 4} to GJ Medium til to .31 4 to 41 Inferior 11 to 21 3 to 31 Pieces— Good 91 to 12 Medium 5J to ♦>$- 7f to 85 Inferior 31 to 7 Bellies — Good 5 to 7 7 to 8$ Inferior to av’age 2 to 41 31 to 6 Crutehings— Medium to good 2j tb 4 3} to 4J Inferior Ij to 2J 2j to 3j Locks— Best 2 to 2| Inferior to medium i to if 11 to 2i