PRICES FIRM

Dominion, Volume 31, Issue 155, 28 March 1938, Page 11

PRICES FIRM

Third Auckland Wool Sale KEEN COMPETITION Good Clearance Of Big Offering By Telegraph—Press Association. Auckland, March 27. Firm rates on tlie sale at Wellington last week, an improvement in the realisations on bettei' quality wools than was evident at the January sale at Auckland, and keen competition within well-defined limits were tlie main factors in the third and final wool sale this season, -which was held at tlie Town Hall Concert Chamber on Saturday afternoon and evening. With few exceptions all classes of wool were sought by buyers, with the result that prices reached an estimated average of lOd. a pound, or something like £l4/15/- a. bale. Growers in tlie Auckland province should therefore receive about £448.400. Passings were comparatively infrequent, and an ap--proximation taken .at the close placed tlie selling figure' at 95 per cent., witli a prospect of sales through private negotiation.

The selling period began at 2 o’clock in the afternoon and finished at 9 o’clock in the evening. About 10,000 bales held over from the second sale, a great deal of it lambs’ wool, swelled the unusually large offering of 32,000 bales, but most of it was quitted readily and the sale progressed at a good pace, although prices for lambs’ wool were lower than some growers anticipated. Because of the practice followed by foreign countries in buying their requirements through agencies, it wds difficult at first to judge the source of the demand, but observations made throughout the selling period suggested that concentrated competition among the buyers for good quality crossbred particularly arose from fresh interest on the part of certain countries. This competition did not go beyond a few points. Occasionally it would range between -Id. and lid., but rarely beyond Ijd. above the first bid for certain lines.

It is fairly likely that the Japanese bought more wool on Saturday than they did at the previous sales in the Dominion this year, and their interest stimulated competitors from France and Germany. Japanese and French bouses secured all types of wool, and within, their regulated margins they bought freely. Their desire to buv sometimes placed their bids id. to jd. in the lead of others to the accompaniment of ejaculations from among the 60 buyers who were there. Five Japanese buyers who sat at the back of the tier of benches impassively noted the different quotations, but did not themselves bid. Bradford operated fairly freely, but the United States and Canada, were not prominent. The celerity with which the auctioneers disposed, of their catalogues was evidence that the growers had decided to meet the market. They were rewarded with a high percentage of sales and at prices which brought their crossbred qualities above similar lots sold in January. Among the best realisations on Saturday were 14|d. for 10 bales of halfbred ewe wool submitted by the Rutherford Land Co., Waiheke Island, six bales of super Corriedale from Chamberlain Bros., Ponui Island, which brought 13Jd. a pound, and six bales of fine half bred wool from H. C. Chamberlain, Ponui Island, which realised 13id. a.pound.. These lotshad opened well, and the growers had little difficulty in disposing of them. It was clear .'almost from the opening of the sale that many buyers were not prepared for the determined bidding of some of their, competitors. The first few lots were quitted at an average gait, when suddenly the pace quickened. The . demand sharpened, and for the next two hours there was intense competition within predeler mined margins. There was a cmnparative lull for a while, and then the selling was given renewed vigour right up to the adjournment. The elo-iir: stages of the sale were equally brisk. The buyers left for Wanganui tonight.

BROKERS’ REPORT

Official Range Of Prices By Telegraph—Press Association. Auckland, March 27. The report on the Auckland wool sale by the Woolbrokers’ Association is as follows: — “The third Auckland wool sale opened with an offering of 32,000 bales. There was a large proportion of inferior to good top-making wools, ranging from slightly discoloured to seedy. There was a heavy entry of lamb’s wool, mostly containing more or less seed. Prices for the latter were a shade easier than late ruling rates. "Competition was more widely spread than at any previous sale in Auckland this season, Bradford, Germany, .France, and Japan all being eager to secure' wool, with the result that the sale was exceedingly buoyant throughout. The growers had decided to meet the market, with the result that an excellent clearance was effected, fully 95 per cent, being sold under the hammer.” The range of prices was as follows:

d. d. Southdown A 10i to 11 Southdown B Si to Vi Halfbred, 56/58 — Extra super ........... to Hi Super 124 to 134 Average 104 to Hi Halfbred, 50/56 — Super — Average 10i to Inferior 04 to 10 Extra fine crossbred, 48/50— Super 10-1 v — • 11! Average to Inferior to 10 Fine crossbred, 40/48— Super 11 .Average Inferior 8'1 to nr Medium crossbred. 44/46 — Super , Average 11’A tv 114 Inferior Si hl ‘•'I Coarse crossbred, 40/44 — Super — Average w to lit Inferior Si to 111 Hoggets— Io 13! 52/56 50/56 11 tv 121 4S/50 ui to 12 46/48 ■> JI to 11 Lambs, Down— Crossbred ■ y to 10 Fine 10 to ill Medium Vi to 10 Seedy and inferior .... 4) to Hi Bellies and pieces— Crossbred 84 — Vi Good to super to Low to medium ...... u-1 to 71 Cru tellings— Medium to good tu Inferior to seedy hi 111 Locks— Crossbred 4i to oi