PAY OF MEDIUM WOOLS

Evening Post, Volume CIV, Issue 137, 7 December 1922, Page 8

PAY OF MEDIUM WOOLS

BRADFORD AND CONTINENT

THE WELLINGTON CATALOGUES,

The second of the Wellintgon wool sales of the current season was held in the Concert Chamber to-day. The sale started promptly at 9 a.m. The buyers were present in fnll strength, and represented all consuming interests, Bradford, Continent, United States, and local mills, also speculators, or merchants. - Prices for all qualities were ;Wll maintained from tie outset, ■with the exception of the superfine lines of wool suitable for America. For these last there did not appear to he anything like the same competition that was characteristic of the first sale of the season in Wellington during the middle of last month. On the otter hand, there was a' noticeable appreciation of the low jpade crossbreds and oddments, such as pieces and bellies. Generally speaking, the superfine wools that took a jump in Auckland receded in Wellington today—that was, up to the luncheon adjournment, when this report closed. American buying was active up to a certain point; beyond that point it did not budge. It was found very hard to maintain the November prices for the superfine lots, except in the case of one or pwo clips. On the average, it is estimated that the so-called "American" wools were Jd to Id per lb down on the November prices. On the other hand, medium and low crossbred wools were decidedly better, making for mediums, 445/465, to more than in .November; coarse, 40s/445, |d to Id; and low crossbreds, 365/4 Os, a full Id. In short, those growers who had the very best wools in the sale had to take less, but the bulk of the growers, the medium and average wools, benefited. Sbuthdowns were keenly competed for by the New Zealand mills, and* 21d was obtained for several lota on account of local manufacturers. There was not much lambs' wool in, 'and what- there was of this season was short in staple. Nothing outstanding was offered, nevertheless some lines realised 14d to 14id. Speculators were keen after lambs. Bellies and pieces were in keen demand, and prices were fully up to those recorded at last sale. Crutchings also commanded good prices. The competition between Bradford and the Continent for all woob outside the super lines was exceptionally keen. There was an old-time air of activity about the sales, indicating the growing interest in the offering of wool in the New Zealand sale rooms, which was so marked before the war, but which was absent, of course, during the requisition period. Some of the brokers were hampered with high reserves put upon the wool by its owners, although a very large percentage of passed-in lots were subsequently disposed of. Owing to the revival ,of the interest of buyers in the lower grades of crossbred wools, many growers —fudging from the occasional frequency with which lots were passed in fo-day—appear to have an exaggerated idea of the market for such wools. The depressing effect of the iteration of the word "pass" on buyers' interest was most noticeable at times in the Bales to-day.' ■ The corrected quantities and, order of sale was as follows:-— N.Z. Loan and Mercantile 1160 Messrs. Levin and Co 4273 Messrs. Murray, Roberts, and Col, associated with Messrs. Johnston and Co.) 2630 Messrs. Dalgety and Co. 2515 Messrs. Wright, Stepherison, and Co. 646 The N.Z. Farmers' Distributing Co 1235 Wairarapa Farmers 1668 Messrs. Abraham and Williams ... 1119 Total bales • 15,246 BROKERS' REPORTS. - The New Zealand Loan and Mercantile Agency Company opened the sale, and report prices as quite up to those of November for the coarser wools, but easier for such wools as America usually requires. There were very few lambs offering, and they were distinctly dearer' than at last sale, and it was evident that they were attracting the favourable attention of speculators. Crutchings and pieces were decidedly dearer. The Loan Company obtained 19id for fine halfbred, taken by local woollen companies, the. brand being Flajcbrook. Timaru half-bred hoggets made 17d; half-bred pieces realised up to UJd, being taken for Bradford. A line of dead Romney wool, branded Annadale, was sold for 9£d' believed to be a record. Half-breds from Braeholm sold at 16£ d; a grouped lot of half-bred was taken by local manufacturers at 18id. J.B. over Linton realised from lljd to 13id. Super crossbreds, Mamaku, made 12d to 13^d for fleece And BJd to 9d for pieces. K.B.F. •Romcey hoggets sold at 12£ d and MXV Romney hoggets brought/12id. Super wools for America were easier, buyers operating, with marked discrimination. Bradford was an eager competitor. Continental 1 buying was keen. The coarser wools were id to id in advance of last sale rates. Lambs- were decidedly dearer, bnt were limited in quantity.