WOOL MARKET

Evening Post, Issue 119, 16 November 1925, Page 8

WOOL MARKET

BRADFORD LOOKS ON

CONTINENTAL BUYERS ACTIVE

WELLINGTON,OPENS THE BALL.

'Wellington opened the Dominion wool sales to-day with a total catalogue of- 10,000 bales. The, attendance, of buyers was larger than> usual, tho bench being crowded, and was thoroughly representative of all con-, suming countries. , Bidding was animated throughout,l but there was no excitement. The amended catalogue, as offered, was as follows:— ' Bales. Abraham and ■'.'. Williams and Wright, Stephenson ...'. 1341. Dalgety and Co. .............. 2176 Murray, Roberts, and Johnston and Co. ............... .■ 1712 Levin and Co. ..'-.....' .... 2226^ Loan and Mercantile ........ 1060 Farmers' Distributing Co. .... 956 ; Wairarapa Farmers .......... 536 .' Total bales .........A.... 10,007

From the outset it."became noticeable that some of the largest buyers for 'Yorkshire were' practically silent, and assumed tljc role of onlookers; well towards lunch time several'Of the big Bradford men had not.bought a single bale. On th'a other hand;, the Con tin-' ental demand was very good, especially for Germany, which bought freely all.the time. Stome highly satisfactory prices were obtained for lines for the Continent. America took a few lots of superfine wools suitable for its requirements. For wools there. was.Uttle. if any demand; in'fact,, the .market, for them was lifeless. . The catalogue, included a fair proportion .of wool offered last season, but held oyer. for this sale. Seedy lots were not u rushed." ; Bomney lots, so far as the sale had gone at the time of' writing,- made prices; quite up to those obtained under. Imperial requisition, or purchase, superfine lines realising 17£d to. 18d. A few'attractive merinos from the Marlboroiigh district were brought forward, and, all .things, considered, made, excellent prices at 20d to 22d, but mainly round about 20$d. These were, if ; anything, rather above the latest London parity. The competition, for such wools came mainly from- Bradford and New Zealand' manufacturers. Lincolns sold remarkably well,-and it was quite evident that there were some good orders in the market for this class of staple. There were but odd lots in the catalogue. Southdown hoggets made up to 18$d, and straight Romney hoggets to 17}d. Scouring wools evoked keen inquiry, and sold at sales that should be remunerative to the growers. Crutchings made prices ,well on an equality with those of the last crutching sale held in Wellington. Business was for Japan. „ . ••■ , ; ■ The comparative, silence::. of , the Bradford section has given some food for thought. The .opinions of one or two of them upon- this subject was sought by "The Post," and the sumup of their view* is that prices go-, ing to-day were yell in excess of their limits.' At thie time sojqo of them left. England' for Kcw-Zealand in time for this opening ..sale, there was plenty of wool in stock, and, it was high-priced wool "too. ! If the; market'. were easier Bradford would be prepared- _to lift, a fair share of the wool; but there were some heavy financial hurdles still to be overcome, sand the market must, be easier than it ruled to-dajr in Wellington if Bradford !b'uyr ing is to be carried' on' in.its usual volume. ;■ ', ■ ■, , •■

.So far as concerned the activity of the Continent, as maniitested.in the sales.to-<Jay, it had to be remembered that converting costs there were very much lower than those of Great Britain. It was possible too that prospective military requirements stimu^ 1 lated the Continental demand, but of this, factor' no one could, ■ speak with < certainty." '■;■ ; ' ■ , : ' ■':.■. ■ .' , In.'brief the wpbl sold to-day was too' dear for ybrkshire, whatever the reason for Continental' interest in 'the market might be. ■•' . ■ •• Prices realised in Wellington to-day 1 were certainly under, those' current! here last March,' but were well up to London September .sales''parity,: in fact, quite equal or a shade better- than the 10 per. cent, increase on those rates which it is anticipated will be made 'at the coming sale's in London before the end of'this month. ■ . * ■■' ' The new wool offered to:day .was light in condition and.a lot.of it was thinly grown,' the hogget, w.ool being rather .fonder. , ' . . :, „ . ...■.' ! lit'tlejwdbl-was "passed in.' -')