NOVEMBER SALE

Evening Post, Volume CXII, Issue 136, 6 December 1926, Page 10

NOVEMBER SALE

LONDON DROP NOT NOTICED

KEEN BIDDING AND CLEARANCE GOOD.

The second Wellington wool sale of this season, held in the Town Hall to-day, resulted in a good clearance, and prices—instead of reflecting the 5 per cent, fall shown by the November-December London sales as compared with the Septem-ber-October London sales —were an improvement on November prices. All countries were represented, and competition was good. As mentioned on Saturdaj', wet weather has retarded, shearing, and the total submitted was 19,481 bales, as compared with 25,300 i at the Wellington December sale last year. Summing up the conditions of the sale after the first three catalogues had been disposed of, the chairman of the Wellington Woolbrokers' Association, Mr. R. G. Anderson, stated that bidding was keen and also general, and that at least 95 per cent, of the offering was being sold. As compared with November prices, average wools were up a halfpenny, and super wools one penny. The selection was a good one, well grown, sound in staple,' and fairly light ia condition. Bradford was the biggest buyer, j The Continent was bidding for suifable lots, and America was taking a fair parcel. \French buyers were taking fine pieces, for which they were paying almost fleece prices. MESSRS. DALGETY'S REPORT. Messrs. Dalgety and Company, Ltd., report:—"The offering at to-day's sale was the smallest catalogued for many years in Wellington for a December sale, 19,400 being submitted, against 25,300 last season. The inclement weather lately has greatly retarded shearing, and deliveries have been coming to hand slowly. If a fine spell is met with, brokers will have a busy time handling the rush of wool that will come forward for the January sale, and the full allotment will rapidly be filled. The usual full bench of buyers was in attendance,. and competition for the majority of lots offered was exceedingly keen, Bradford and Continent both being well in the market, with spasmodic bidding coming from U.S.A. The quantity and condition of the offering were good. Parcels of super style Romney wools wero easily found with no scarcity of good spinners' wools suitable for the English trade. So.-ne very.good halfbreds and merinos were catalogued from the Marlborough district, and local mills and American buyers competed keenly for the best lots. French competition for the best bellies and pieces was not so pronounced as at our first sale,.but local mills and Continental buyers other than Fraaac came in well in this class of wool, keeping prices well up to the rates secured at our last sale;, and at times some super iots showed a pronounced appreciation.' German operators bid frr-ely on suitable wools, but a large proportion of the offering was too deeply grown and too stylish for their requirements. "WELL SPREAD." "Generally speaking, the buying at to-day's sale was well spread, as was the case at the first Wellington sale and other sales that followed. The small offerings to date has brought in sound competition from the large and small buyer, and orders held have so far been rapidly filled. There is no doubt that the pulse of the woo! auction rooms provides an interesting indication of the state of trade in consuming countries, and from the business tranacted to-day, when British operators made fairly heavy purchases, it is evident' that confidence is being gradually restored and the outlook bright for sound business at about the present range of prices. Germany would no doubt have been larger buyers if the offering had been more suited for their trade, but, as previously mentioned, the wools generally were a little too !good and.deeply grown for their requirements. From ' results of sales so far held in the Dominion, and also from the tone of tho London and Australian markets, it seems as if prices are now fairly well stabilised for some time to come, and we do not look for any pronounced fluctuations during the remainder of the selling season. The outlook for the wool trade generally is healthy, and in striking contrast to the position at the close of the previous season.^ The healthiness is in a large .measure due to the fact that the progress towards recovery has been gradual, and .has all the more prospect of permanency from the fact that it has not teen forced at any point. The trade has wished for-a period of reasonable prices to give it timo to recover from the staggering blow of tho previous (dump, and it is now being afforded that opportunity. The world is able to absorb all the wool produced, but the basis of value must necessarily fluctuate with and depend upon the purchasing power of the wool-using public. Out of our catalogue of 3400 bales we sold .97 per cent, under good general competition. In halfbreds we made 19Jd for ten bales of super, 56-58's, "branded Fyvie, from Marlborough district; and 33 bales of same quality, Lake View,, also from Marlborough, made 18d. A very light lino of 50-56 's quality, EFH/OTI, from Pelorus, brought 18id. In crossbreds there were ' quite nice parcels, five bales of super crossbred from Wairarapa, TB/Waihi, making 15d.