FOURTH WELLINGTON WOOL SALE

Dominion, Volume 31, Issue 151, 23 March 1938, Page 13

FOURTH WELLINGTON WOOL SALE

Keen Competition For Reduced Offering

GOOD CLEARANCE AT IMPROVED PRICES Bradford And Continent Chief Buyers; f Japanese Orders Filled Compared with the February auction, there was a much improved market at the fourth Wellington wool sale of the 1937 3c season which was held yesterday. Prices were fully firm on those realised at the Dunedin sale last week, and for most halfbieds and crossbreds showed an advance of from a halfpenny to Id. and in some cases.l|d. as compared with Wellington February rates. Lambs’ wool and bellies, pieces, crutchmgs and locks were lower than at the last Wellington sale. . x The total offering comprised about 23,000 bales, of which fu y 90 per cent, was sold at auction, many of the passed-in lots being disposed of subsequently by private treaty. _ ■ P Bradford and the Continent were the chief buyers, and foi . the first time this season at Wellington there was strong competition on Japanese account for crossbreds. Some buying was done for Canada, but the New Zealand mills operated very sparingly, having filled their main requirements at earlier sales.

A limit of 30,000 bales was originally fixed for this sale by the New Zealand Wool Committee, but, due to the lower level of the market, many growers held off and the catalogues closed last month at 26,000 bales, this quantity being reduced further by subsequent withdrawals. The sale started at 8 o’clock—an hour earlier than usual—to enable buyers to get away to Auckland. There was a fully representative bench of buyers and competition was keen and for the most part well-spread, Bradford, the Continent' and buyers for Japan making the pace a fast one. Three catalogues totalling some 12,000 bales were cleared during the first two and a half hours of the sale which ended shortly after one o’clock. When the sale started there were only eight onlookers in the gallery and the attendance there at no time reached 100 persons. The Principal Buyers. The sale opened on a firm note, and from the outset it was apparent that many buyers were w&king on fairly elastic limits, the bidding frequently being very keen. Yorkshire and the Continent bought heavily and some good Japanese orders assisted materially in building up prices for all crossbreds showing length and style. ’ For a March'sale much of the wool offered was below standard, the poorer quality bearing evidence of an adverse growing season. Super lots were few and far between and brought good prices. The offering comprised mainly late-shorn wools. Growers met the market very well and the passings at auction were barely 10 per cent, of the total offering. Prices of Best Sorts. The highest price realised for merino wool, of which there was little offering, was 121 d. for super and lid. to 12d. for average sorts. Best halfbreds made up to 12-Jd. and fine crossbreds to 121 d., a few speciality lines slightly exceeding these prices. The best of the medium and coarse crossbreds reached 121 d., low crossbreds Hid., the top levels for hoggets were from 101 d. to 12Jd., and for lambs 121 d. Special lines attracted very keen bidding. For example, a lot of four bales of Lincoln hogget wool, brand “Surreydale,” opened at lOd. and after a strong run of bidding was “knocked down” at • 15Jd. A line of 29 bales of crossbred ewes, brand “J. G. over Parkvale,” made 13d., and 14 bales of CO crossbred, brand “W.II. over C.H.,” sold at the same price. A lot of seven bales of fine crossbred lambs, "Kaiwarra” brand, also went at 13d.