WOOL AGAIN UP

Dominion, Volume 30, Issue 174, 20 April 1937, Page 10

WOOL AGAIN UP

Prices at Final Sale at Dunedin VERY BUOYANT TONE Almost Total Clearance Results By Telegraph—Press Association. Dunedin, April 19. The fourth and dual wool sale of this season was held to-day when 9269 bales were submitted at auction. The buyers’ benches showed a full attendance, all sections of the trade being represented. A feature of the sale was the buoyant tone throughout, and very general competition from Bradford, the Continent, America, and Japan, as well as local mills, which were operating for wool suitable for their requirements. Catalogues represented an offering decidedly in better condition for a clean-up or final sale than has been the case for some years, but it was nevertheless a typical end-of-season offering. Trere were few super lots. The wool was mostly crossbreds of all qualities with a moderate offering of halfbreds and a proportion of seedy and inferior lines. Practically the total offering was cleared, there being few passings, and any of these latter lines were subsequently dealt with. From the outset it was evident thut the high rate of prices of the last Dunedin sale was being exceeded, and a most satisfactory sale resulted. Crossbreds showed an advance from lid. to 2Jd. per pound, and fine wools showed an appreciation of from Id. to Ijd. The best price for the fine wool section was for a super line which topped the market at 26}d., and another choice lot made 26Jd. Both halfbred and crossbred pieces sold keenly, the Continent taking the bulk of the finer grades with crjssbreds being mostly purchased by Bradford and Japan. Seedy fleece, seedy pieces, and heavy and inferior wools were erratic of sale, but prices realised were in advance of those obtained at the March Dunedin sale, and were very satisfactory. The range of prices is as follows: — d. d.

Hardly a Bale of Otago Wool Unsold Dominion Special Service. Dunedin, April 19. The fourth and final wool sale of the .■season which was held to-day may he characterised as the best auction of I he year in the whole of the-Dominion. After the third auction in Dunedin last month the opinion was expressed that crossbred wool had gone as high as it could be expected to go, but to-day i here was a further advance -on the 18d to 19d which could be quoted as the March range for good descriptions, the greater proportion of the offering of this type making from 19d to 20Jd with line crossbreds selling at up to 21d There were also some excellent orders for good halfbreds, and while these did not in general come up to the standard of the super lots of previous sales they weie dearer with 24 d and 25d common for good lines, and a top price of 2G.id. It was -noticeable that while local mills are usually responsible for these prices, to-day’s high rates were paid by overseas operators, principally Japan and the Continent. The sound position of the wool market at the close of the selling season was strikingly demonstrated by the sale, at which the catalogues totalled 9269 bales. There was practically a complete clearance at auction, and it may safely be said that at the present time there is hardly a bale of wool.in Otago unsold. Growers have exhibited ■ unusual willingness with each successive sale to meet the market, with the result that the final washing-up offering of the season comprised mostly straggler wool or early shorn clips that could not be forwarded into store in time for previous sales. Competition was very keen from the outset, an exceptionally full bench of buyers for a last sale engaging in brisk bidding which made for good prices and fast selling. One of the features of the sale was the buoyancy of the market for all descriptions of crossbred wools, which sold at up to 21d a pound, and the firmness of halfbreds, which more than held their own on late price levels. Pieces, which sold under strong Continental competition, also showed an advance on the previous Dunedin sale and on recent auctions in other centres. The season thus closes with market conditions distinctly encouraging for the coming season and with the complete disposal of an Otago clip totalling more than 100,000 bales and netting growers a gross figure in excess of £2,250,000. It is estimated that gross receipts from the sale will be considerably in excess of 1200,000. The average price a pound and a bale are alike difficult to assess on account of the varied character of the wools offered, but an estimated average of £23 a bale over the whole season in Dunedin will probably be found to be conservative when final figures for the year's auctions are balanced.

Merino. <14/70, 60/64— Average 19} Inferior 7} to to 182 Fine halfbred, OS’s, 56/38, 56’s— Extra super to 26} .Super 22} Average 20} to oo to inferior IS to 194 .Medium half bred, 50/56, 50’s — Super 221 to 251 Average 20} to 21} Inferior 18} to 19} Extra line crossbreds, 58/50 — Super to 225 Average 20} to 22 Inferior 18} to 20 Fine crossbreds, 46/48 — Super 21} to Average 19} to 21 Inferior 18 to 19} .Medium crossbreds, 44/46 — Super 20} to 21’ Average 19} to 20 Inferior 18 to 19 Bellies, pieces and necks, merino— Good to super pieces 19 to 21} Bellies 15 to 164 Low to medium pieces 15 to 16} Bellies 13} to 14.1 Bellies, pieces and necks, halfbredPieces 19} to 21} Bellies 14} to 161 Low to medium pieces 15} to 181 15.1 Bellies 15 to Bellies, pieces and necks— Pieces 17 to 20 Bellies 14} to 16} Low to medium pieces 14 to 164 'Bellies 12} to 14 Cru tellings— Medium 12} to 144 Inferior and seedy ... 10} to 12 Locks— Merino and halfbred . 8 to 9} Crossbred 7} to 9} — BEST OF SEASON