WOOL POSITION

Evening Post, Volume CXVI, Issue 147, 19 December 1933, Page 14

WOOL POSITION

MARKET STILL STRONG

WELLINGTON ENTRIES CLOSED

"Evening Post," December 19. Results of Tiniaru sales held on Saturday indicate that the wool market is still strongly in sellers' favour. The local E.ales in Australia and New Zcalaud afford as clear a view of the wool market of the world as any obtainable from the viewpoint of the London Woo! Exchange in C'oleman Street. Buyers fron all woolconsuming quarters of the world attend these sales, and at whatever centre they may be held there and at that time, it miay be said, is the wool market of the •world. But there is this great difference betw.een the sales held iff Australia and New Zealand and that is the attendance of buyers for Japan and the exportation from the Commonwealth and the Dominion of raw wool by direct shipment to Japan for manufacture there. That Japan is a strong and. valued supporter of these Australian and New Zealand sales for wool of the quality required is now. generally admitted. In addition there is the buying factor of Australian and New Zealand manufacturers and it is by no means negligible. ' ' ' ' As for the value' of wool it is not only substantially higher this year but if anything the movement of the market is upward.'1 Fancy ;prices like those of 37% d per lb for an outstanding' line of AAA extra'superfine merinos are most interesting market inoidents, but not trustworthy indications of the course; of the wool market ffs'a whole. In this instance the price was paid in Sydney for seven bales of wool only, which were purchased on Italian i»eo.ount. On the same occasion sales of li'-.ited parcels of merino fleece wool were made at 23iid to 35V*d;. and up to 28% d per lb was made for AAA superfine lambs. All these wools were from one station. Other lilies made '22% d to 32% d; but the average price made over the whole of the series; o£ sales is :the best guide to the .value of. Wool, no .matter .where it is sold. NEW ZEALAND AVERAGES. Auckland sale, on November 27, the first of the New Zealand sales this season, averaged 9.7 d per lb, and this in contrast "with the average of ud per lb taken over all the sales in that centre last season, 'fop . prices are always misleading, but taking average medium crossbreds sold in New Zealand this season compared with averages of all descriptions of wool for the whole season of last year, viz. 5.10 ci per 3b, it will be se'en that considerable appreciation has taken place in the value of wool. • ■ Sales this Average crossbred season. . pence per lb. . . . Auckland 10% to ]2',i • Napier 9 to 10% AVellingtou 9 to .11 ■ Christchurch ..... 8M to IOMi ' .' The wool above referred to is average 46s to 4Ss, and the 5.13 d per lb average of .last year is Dalgety and Company's valuation. WELLINGTON SALE. •' Wellington's next sale wil be held on 'January 11 at 9 a.m., and the following are the details of allotments to brokers . for this sale, based upon the New Zealand Wool Committee's allocation of 30,000 bales:— Bales. Dalgety and Company 5426 Murray, Roberts, and Company .. MoO-t Levin and Company , 0877 Loan and Mercantile 4519 Karmers' Distributing Company '.. "099 Wairarapa Farmers 1.517 Abraham and Williams, and Wright . Stevenson, and Company 4968 Total ' ; .-....' 30,000 :The above statement is in the order of fale. . ' Dunedin offers 29,000 bales tomorrow, and Napier has allotted 30,000 bales for its sale on January . 6.. , POSITION IN AUSTRALIA. The National Council -of Wool-selling Brokers of Australia reports for this season to November 30:—Wool received, 2.107,838 bales; wool sold, 1,231,281 bales; wool in store, 876,557. Australian averages of' greasy wool only were 14.3d per ]b for five months ended November 30. The average for July was 8d; August, 12AA; September,' 13.5 di October, 13.5 d; .November, 15.9 d. Scoured so far has averaged for the season a price of 22.8 d. ■/Returns issued by the National Council .of W°°l Selling Brokers show that sales of wool in the principal selling ccn■fcres of the Commonwealth from July 1 to ICoyember 30 totalled 1,25:5,287 bales, which realised £23,546,595. The quantity . sold shows an increase of 77,548 bales, and the amount realised .in increase of £9,981,256, compared with the similar Beriod of 1932. The following figures show the quantity of wool sold and the amount realised in the Commonwealth from July to November 30 during five seasons: — Bales. . Returns. ■ 1929 .... 799,545 £11,542,886 '. 1930 ...." 964,027 £10,413,160 ■ 1931. .... 1,055,173 £12,146,692 ; 1932 .... 1,177,739 £13,565,330 ' '• 1933 .... 1,255,287 £23,546,595 The president of the Australian Graziers' Association ■ (Mr. James Walker) holdi that, although it was unwise to emphasise this importance of the top lines of extra choice clips, as they were apt to be an unreliable guide to the market, it was ancjouraging that the record prices of the current season were well in advance of the record prices for last season. Market conditions generally tliis season were decidedly encouraging, more particularly in view, of the low prices of the last three seasons. The progress of the wool market this seascm encouraged the belief that those' better prices would continue for tome time.