WOOL VALUES

Evening Post, Volume CXVII, Issue 52, 2 March 1934, Page 8

WOOL VALUES

EASING TENDENCY

CHRISTCHURCH SALE

DROP ON JANUARY

(By Telegraph—Press Association.) CHRISTCHUKCH, This Day. An all-round drop of approximately 3d a pound compared with the January sale was the main feature of the third Christchureh wool sale which opened today before a., full bench of buyers. The main drop was in three-quarter-breds, and crossbreds, which wero down as much as 4d. Pieces and erutehiugs sold well, but fine half breds were dowu about 2d. The offering was 24,500 bales. Prices may improve, slightly in the afternoon, as the sale opened this morning with the three smallest catalogues. The competition was mainly between Continental buyers, with Bradford and the local milis taking a fair percentage of choice lots.- .' Compared with,, the December sale, the rates on the early bidding appear to be up about for the best Corriedale and halfbreds; otherwise there is not much difference. Top price ..in. thq ,first three catalogues went .to Eusor Bros., Cheviot, for eight bales of Corriedale. wool, which were bought by a Dominion mill for 23d. Top price for merino wool was ,193 d, which was paid for. four bales. Eight bales of halfbred wool brought 20Jd. Passings in the first three bales were more than 15 per cent. ■ CROSSBBEDS SLUGGISH. Crossbreds sold sluggishly, about 3d below January rates. Prices of pieces and crutchings kept- up remarkably well, and there were frequent instances of growers getting more for pieces than for fleece wool from the same clip. The market was influenced by the fact that the wool was dusty, and in many eases tender, owing to the shortage of feed at the change of the seasons. Buyers were not greatly attracted by the large quantity of shabby Lalfbreds and crossbreds in the offering, but crossbreds were about on a par with the rates at the last North Island sale at Wanganui. . Taking the range of values in all the Dominion sales held during December, crossbreds and three-quarter-breds are from -id to a Id easier, with halfbreds firm. One of the first big clips offered was 386 bales from Sir William Nosworthy's station, Mesopotamia, at the headwaters of tho Rangitata River. This clip comprised some good merino and halfbred fleece wool. Bidding was uot as spirited as -a similar clip would havo inspired in January, but Continental buyers bid strongly for the finer lots, while Bradford and the local mills were in contest for the choicest lots. Top price for this clip, was 18? d paid by a Continental buyer-for thirteen bales of super h;t\bred ewe.