SECOND WOOL SALE AT DUNEDIN

Dominion, Volume 28, Issue 114, 7 February 1935, Page 10

SECOND WOOL SALE AT DUNEDIN

i Hardly Equals December KEEN COMPETITION FROM DOMINION Top Price of 15|d. 'I — ... By Telegraph.—Press Association. Dunedin, February C. To-day’s wool sale was a limited one, the Wool Committee’s allocation being 25 000 hales. v The catalogues auctioned’ totalled 25,300 bales. A full bench of buyers was present, all purchasing . countries being represented. From the commencement of the sale until its close it was noticeable that the bidding was only spirited on super wools, and generally competition appeared to be more restricted than at the previous sale held in Dunedin during December. Although the market was steady on other sales held during January throughout New Zealand the sale, on the whole, was not considered to be equal to the December sale. Competition in to-day’s sale came chiefly froln New Zealand mills, tlyj Continent and Bradford, the bidding from the latter being on strictly defined limits. France was the chief competitor from the Continental section, buying freely fine fleece wools and fine pieces. Both Germany and Japan were in evidence, but only for limited quantities. A pleasing feature of the sale was the strong competition from the New Zealand woollen mills for' super wools suitable for their trade. They bid freely’on any lots in which they were interested, and were instrumental in raising the values, and purchased the bulk of the stylish fine halfbred and merino clips. Catalogues submitted to the auction 1 ’contained a large percentage of fine wool from station clips, there being less super crossbreds offered than usual. The wools generally were heavy in condition, being later shorn, and in some instances there was evidence of seed, . owing to the dry season. Super lines <■ of fine wool from stations were suitable for the local mills, but the bulk of these clips was of Continental and Bradford type. > Extra Super Finns. Most of the fine pieces offered were very heavy in condition and also’ showed signs of seed. In comparison with the previous sale held at this centre during December the only firming noticeable was for outstanding lots of extra super halfbred and merino. These were specialty lots for which this centre is noted. Super halfbred wools were on a par with December rates, while for average and medium qualities the market was irregular. Hogget wools of both halfbred and crossbred quality were easier than ‘ December prices. Crossbreds were also barely equal to last sale held here excepting for choice lots. Bellies and pieces were weaker, but in a number of instances the low prices were on account of the heavier quality, owing, to growers’ reserves being on the high side. The percentage of passings was greater than at the previous December sale, amounting to S per cent, to 10 per cent, of the total offering. The top price realised on the sale was 15|d. for four bales of super combing fine halfbred ewes and wether wool grown by G. Huyshe-Eliot, of Mount •_ i Benger. This grower also realised 15Jd. for four bales of super halfbred and wether, and 15}d. was also obtained by Mr. H. Armitage, of Teviot, for 15 bales of super halfbred ewe. Several lots of halfbred realised 15d., while this price was also obtained for merino wool on account of Robert Jopp, of “Moutere.”

RANGE OF PRICES Following is the official range of prices compared with the December sale:— Dec., 1934. Feb., 1935.

LOCAL MILLS ACTIVE Bradford Buyers Forced to Limits Dominion Special Service. Dunedin, February 6. Although no very marked difference in the range of prices is to be noted the average price per pound showed a decrease of about one farthing on tlie first Dunedin sale. This is of greater significance when it is realised that, compared with the first sale, there was a considerably larger proportion of fine wools under the hammer—a fact which would raise the average per pound price. A total of 25,306 bales was offered, of which approximately 22.000 were sold. At the first sale the total number of bales .sold was 15,799, the average price per pound being 7.94 d., while the per bale average was £lO/12/8. It is estimated that to-day’s average price per pound would be in the vicinity of 7Jd., the bale average being £lO/2/6. Total receipts would, therefore, be round about £222,750, compared with £168,017/10/1 from the first sale of the season. A feature of the sale was the manner in which the local mills came into the bidding for the more stylish classes of wools. The top price for the day was paid by one of these mills, this being 15}d. for four bales of fine halfbred, grown by Mr. G. Huyshe-Eliot, of.

Mount Benger (Roxburgh). This constitutes a Dominion record for this season’s sales, the previous highest price being 154 d. paid at last sale in Christchurch. Throughout the sale the local mills maintained their interest in superior wools. The level which was reached here was due almost entirely to the manner in which they forced Bradford buyers to go to the full extent of their limits. Had it not been for the New Zealand mills the range of prices would have shown some marked variations from that which was given at tlie end of the day. Tlie extent of their buying can be gauged from the fact that they took over a seventh of the total amount of wool sold under the hammer to-day. Of Continental buyers the only ones who were active were the French, who came into tlie market fairly strongly for wools which they fancied. The amount of wool which went to Germany showed a distinct decline on what was bought by German buyers at the first sale.

Japan was scarcely in the market at all, and the same thing applies to America.

d. d. d. d. Merino: Extra super .... to 141 to 15 i Super 12 to 13 11 to 13 Average 10 to 11 9 to 101 Inferior S to 9 8 to 8* Fine halfbred, 5G/5S Extra super to 14 A 13 to 15J Super 11 to 12-j 10J to 121 Average 91 to 1(11 9 to 101' Inferior Si to da 8 to 8* Medium half bred, 50/5G: Extra super to 13 12 •to 13 Super 101 to 111 10 to 114 Average J) to 10 SA to 9 A Inferior 7i to si 7 to 8 Fine crossbred, 48/50: Extra super .... to n to 10* Super 8} to 10 81 to 91 Average G to Si 7 to 8 Inferior to Y to 6-i Crossbred. 4C/48: Extra super to 10 to 9 Super 8 to 9 7 to 8 Average Gi to 7 6 to GJ Inferior y to C 5 to 51 Medium crossbred. 44/4G: Super 7 to 8 6 to 71 Average to GA to Ox Inferior ii to i> 4 to 44 Halfbred neeks and pie< :es: Good to super .. 9 to 111 81 to 101 Low4o medium .. 3 to 8 I) to 71 Crossbred necks and pieces Good to super .. G. to 71 to 7 Low to medium . 3 to o 3 to 4i Halfbred bellies: \ Good to super .. 7 to 81 GA to 71 Low to medium . 41 to G 4 to 6 Crossbred bellies: Good to super .. 5 A to GA 41 to .5 A Low to medium . 3 to 4} to 4 Crutchings: Medium to good .. 4. to 5 A fl to 6 Inferior Locks: 2A to 3 21 to 4 Medium to good . 3 to 3} 3 to 4 Inferior 1 to 1.1 11 to • 2J