AN EASIER TONE

Evening Post, Volume CXXI, Issue 83, 7 April 1936, Page 8

AN EASIER TONE

WELLINGTON SALES END

YORKSHIRE A.KEEN BUYER

Wellington's 193M6 series of wool sales ended yesterday wnen a catalogue of 28,090 bales was submitted. But in consequence of sellers taking a more, optimistic view of the future value of wool than that held by the buyers, a much-to-be desired total clearance was not effected. However, it is the opinion of most brokers that Wellington will start the 1936-37 auctions with practically no carry-over of wool in the (grease. This should be in striking contrast with the position as it was at June 30 last year, when it was estimated that 164,400 bales of greasy wool were held in brokers' stores or on growers' premises. As it was yesterday there were wools in some catalogues that were four, five, and even six seasons' old, although, of course, there were also many highly attractive lines of fleece included in the offering. For the best wools the demand was exceptionally keen from all buying quarters, and the demand for the inferior lines was also eager, but at prices that many growers were not disposed to accept. Business, however, generally passes after the hammer has fallen. Compared with the average prices realised in Wellington at the sale held in March last prices current at yesterday's sale were lower, but the market for halfbred and fine crossbred wools was quite as good as it was in March, and the best of the lambs' wools sold, at about the same levels. Among the top prices paid may be mentioned 15id per lb for a line of superfine halfbred, with superfine crossbreds making up to lljd. Southdowns realised up to 13^d, and the best of. the lambs' wool commanded prices ranging from lid to 12d. Fine hogget wool was wanted at round about lid. The demand for bellies and pieces and crutchings was not so strong yesterday as at the March sale, and prices for these showed some decline. Buying was as fully representative of all consuming countries as that at any sale held earlier in the season, but "Yorkshire predominated in the purchases, with strong support given to the sale by Japan and the Continent. Canada and the United States were also conspicuous in the sale. Australian and New Zealand manufacturers were in the market for any wools suitable for their various requirements. PROCEEDS FROM SALES. . An estimate of the gross proceeds from wool sold in Wellington this'season should be in the vicinity of £2,250,000. The average price realised in Wellington for April, 1935, was £10 Is per bale, but the average for all Wellington sales this year was roughly £9 5s per bale. The Dominion average per bale to February 29 of this year was £13 9s BJd, in strong contrast with £9 8s Ojld for last year. More wool has been offered in the Wellington, as in other sales, this year than last, attracted no doubt by the improved tone of the market, and approximately 150,000 bales have been catalogued for the five sales held in this centre. The percentage of wool sold up to the February sale was 93 per cent, of the total catalogue, but since then, reserves have stiffened and : the percentage of wool passed in at the March and April Wellington sales was somewhat higheh But the gratifying.fact has to be recorded that the disposal of wool in Wellington during the series of sales just concluded was much greater than that of the 1934-35 season,.arid that buyers from all quarters, including local fellmongers, were prepared to take every bale of wool offered up to the price limits to which they were confined. ■