WOOL VALUES

Dominion, Volume 32, Issue 103, 25 January 1939, Page 12

WOOL VALUES

Auckland Sale Shows

Easing

DROP FROM NOVEMBER PRICES

American And Japanese Buyers Operate ,

By Telegraph—Press Association.

AUCKLAND, January 24. A decline of approximately l|d. lb on prices paid at the first wool sale of the season held in Auckland last November occurred at the second Auckland sale in the Town Hall today. There was a full bench of buyers and bidding was brisk, but not spectacular. The average price was estimated at about Bd. lb., or £ll/13/4 a bale. The clearance was approximately 85 per cent, of the offering of 24,000 bales, and on this, basis the return to growers is estimated at about £240,000. The average price at the first Auckland sale of the season was 9.76 d. lb. or £l4/2/11 a bale, and the return was £339.896-

Active participation by the United States and a measure of interest on the part of Japan were features of the sale. The bulk of .the offering, however, went to the Continent, Germany being more prominent than France among European buyers. Bradford was well in the market, but little interest was displayed by local mills. The consensus pf opinion among experts was that the whole sale was slightly easier than Wanganui values, good wools being flrm, while shabby and inferior wools were about a farthing lower. Well-Defined Limits. With international competition keen, bidding was spirited, but it remained within well-defined limits. There was little demand for finer sorts, but crossbred was keenly sought. . It was rare, however, for bidding to rise more than id. at a time and seldom when half a dozen buyers called the same bid did one hasten to clinch the deal by offering another fractional rise. Both the declining trend of the market and the effect of an unfavourable winter contributed toward the lower prices offered. Much of the wool opened in fair average condition, but experts considered it definitely below the November offering in quality. Traces of the long wet winter were seen in a substantial proportion of the wool showing a yellow tinge. This has been reported not only in the Auckland clip, but at most other sales throughout New Zealand. There was more tender wool about than is usual at an Auckland sale, and a quantity tended to lack body, both defects being attributed to the epidemic of facial eczema that was widespread among sheep in various parts of the province last year. Though prices were lower, the proportion of passings to sales was not exceptional and, at an estimated average 85' per cent, of the offering sold, the clearance is regarded as quite satisfactory. Variations in Passing. There was considerable variation between various catalogues in the number of passings recorded, the totals ranging from approximately 5 per cent, to about 18 per-cent. It was evident, however, that in some instances reserves had been fixed in expectation of better prices than those offered, though in most cases the market was equal to or above the reserves. The position was in striking contrast to that at the first sale, when prices were slightly above expectations. On that occasion buyers’ valuations were higher than those of most growers, and the result was an excellent clearance or fully 96 per cent, under the hammer. , Top price at the sale was 14Jd. a lb. for seven bales of Corriedale AA grown by the late Mr. T. L. Vining, Mangatahgi. Mr. Vining’s death occurred this week. Attractive prices were also realized by the remainder of the clip. Foreign Competition. Competition between Germany- and Bradford was marked on occasions, and the United States also entered briskly into the bidding, particularly for crossbred wools. French activity, which has marked earlier sales, was overshadowed by keen German, bidding, though France took a substantial quantity of the clip. Four Japanese buyers who had appraised the clips last week took no active part in the sale. Seated in pairs at the back of the buyers’ benches, they followed the proceedings carefully, marking their catalogues but offering, never a bid. Casual observers, seeing the Japanese allowing buyers of other nationalities to monopolize bidding, might have imagined therefore that none of the wool was destined for Japan. It is the practice, however, when Japan is in the market for some of the big houses with customers the world over tt> undertake the buying, and this was the case today. Opinion was unanimous that Japan was buying. The oflicial report of the Woolbrokers’ Association states that .the wool opened up in fair average condition. Though prices for most lines showed an easing on rates ruling at the first sale in November, competition was animated within restricted limits. Continental buyers were the principal operators, supported by Bradford. and America and Japanese buyers also operated to some extent. Good clearances were effected, approximately 85 per cent, being sold under the hammer. Fine and good wools did not '■oinmand their usual premium.

flange of Prices. The range of prices was ar follows

January. November, 1938. d. 1939. Southdown A .... 9 to 91 91 to 10* Sou th down B .... 8 to 8:} SA to mI Ha If bred, 56/58 — Extra super .. — 14 to 15 Super 11 to 11} 13 to 14 Average 9 to 10 12 to 1 *2 cxalfbred. 50/56 — 121 Super 10J to 11 to Average 10 to 10A 11 to 111 Tn f prior SA to 91 9 to 10 Extra Fine Crossbred. 48/50—Super 101 to 101 11 to I ' Average 9 to 10 101 to 11 Inferior 8 to Sj 9 to 10 Fine Crossbred, J6/-I8— 'll Super 9A | o 10 1<H to Average Inferior 8'1 75 to to 9! Si 11) 8} to to 10A Vi

Medium Crossbred, 44/46 - Super Average Inferior 91 to 10 1111 Io 11 S'i to 9.1 SA 9 A 9 to 10.1 Coarse Crossbred, 411/4’1Super 9 A to 10 :oa t.o ; | 8i| to •) j 9 A to Uli Inferior 7A to 8 A 9 to III Strong Crossbred, 36/40— Super 10A to ID. 10} to ui? Average 111 10 ii; in to 10 Inferior Si t O 9 JI to •’A Hoggets— 52/56 io io 111 11J to 50/56 9 A to 10A HA t<> ■i ~ 48/50 9 to 1(1 10 J, Io III 46/48 9 to 11) ll’i t < 1 11 Lambs, Down— Crossbred 8 t o 9 —- 8 to 11 to s Medium 7A to 10 — Seedy and inferior IA to i — Bellies and Pieces Crossbred : Good to super tA to si J A to Low to median • 5 Io 4 1 > A to I lull’ll red : .... 7 tn ;| III t 1 > 0 ('r ii t e li i ngs.— Medium to good I to 8 t to Inferior io seedy 4 : | In (» R to n Locks — Crossbred 3 to 31 41 to 4S