WOOL RECORDS BEATEN

Evening Star, Issue 19779, 1 February 1928, Page 3

WOOL RECORDS BEATEN

DUNEDIN’S SECOND SALE M'ERIKO UP TO 28tO From about 7.30 last evening on towards 10 o’clock the gallery of the Burns Hall was much too small for the tremendous crowd of farmers and those interested in farming who assembled to watch the progress of Dunedin’s second wool sale. Encouraged by the good prices which have been obtained at all the sales in New Zealand this season, people have been expecting much of the present one. And so far nobody has had any reason to feel disappointed. In all, 23,286 bales are being offered, and the sale opened last night with the disposal of Messrs Donald Reid and Co.’s catalogue, comprising 3,588 bales. The buyers’ benches wore well filled by the usual business-like gentlemen from all parts Of the world, who did not fail to make themselves heard when their favorite lots were put up. The gallery was thronged with interested spectators, and the many persons who could not get seats chose to stand around and talk with acquaintances in that portion of the First Church grounds in the immediate vicinity of the hall.

At about 9 p.m. Dalgety's big list of (3,000 bales was introduced to the market, an J when this was disposed of the sale was adjourned until thismorning. At 9 a.m. to-day, when the National Mortgage and Agency Co., Ltd., put its 4'.677 bales lip for auction, it was quickly realised that the excellent prices of the previous_ night would be maintained. Competition between foreign and local buyers was exceptionally keen, and, although last evening's records were not passed an equally high general standard was kept up right through the sale. Fin;t combing fine half-bred ewe and first half-bred each realised 26'.;d. The wools opened up most attractively, and generally there was more condition showing than at the first sale. Numerous early-shorn lots, however, were in as light condition as the very splendid offering last month. There was a big bench of buyers representing Great Britain, the Continent, and America, as well as the local mills. It was gratifying to find America operating fairly freely. The demand was exceptionally keen, duo partly to the fact that the South American clip has almost all been dealt with and the inquiry for wools remains still unsatislied.

Prices showed a marked advance on the last Dunedin sales, and buyers expressed tho opinion that values had risen since tho sale in Invercargill a few days ago by 2d per lb in the grease. Every class of wool came in for the increase under the keenest competition. It was evident from the bidding that many buyers were operating almost without limits, as lot after lot showed wide differences between starting and finishing prices. Records for New Zealand were smashed in all directions last night. Merinos made up to 28£d, half-breds 2"jd, fine cross-breds 24d, neck pieces 26d. locks lojd. One well-known merino clip averaged over all nearly 25d. Passings naturally were exceedingly light, and few lots were left for negotiation after the sale. The market looks like remaining very firm for the rest of the season, and growers can look forward with confidence to the next sale early in March. Another .record for New Zealand was broken this morning, when the Otago Farmers' Co-operative Association, Ltd., offered a line of five bales of superfir.*) first, half-bred wool,, which brought 2Sd. Generally speaking, the firm tone of the market continued right through the catalogue. For a line of super, half-bred hogget 25Jd was obtained, and 26d was secured for several other lots of halfbred. Fine cross-bred realised in some cases as much as 25i|d, and necks, bellies, and pieces were about on a par with those of the previous sales. The following is the range ox prices:—

This table gives the prices up to the end of Dalgety’s sale, but the National Mortgage and Agency, Ltd., which sold later, states that its sale would make little alteration, if any, i’l the figures. Since the above list was printed the Otago Fanners Co-operative Association” Ltd., sold a fine of superfine first half-bred wool at 28d-

MERINO — Extra Super 20d to 28 id Super 2d to 25 3 Average ■■ ... 21 to 22 Inferior 20 to 21 FINE HALF-BRED— Extra Super Super 20 24 to to a Average 221 to 23| inferior 20 to 22 MEDIUM HALF-BRED— Extra Super 24 i to 26i Super 2.3 to 24 i Average 21* to 22J Inferior 20 to 21 COARSE HALF-BRED-Super 23 to 24 i Average 211 to 22^ Inferior 19 to 21 FJNE CROSS-BRED— Super 20 to it Average 19 to 19£ IS* inferior 17 to MEDIUM CROSSBRED- - Super 18 to Average l«£ to HI 16* Inferior ... 15 to BELLIES AND PIECES (Merino)— Good to Super, 22 to 2ii Medium 17 to 21 HALF-BRED— Good to Super. 21 to 244 Medium 17 to 20 CROSS-BRED-Good to Super. 18 to 22 Medium 15 to 17 CR ETCHINGS — Medium to good ... 12 to 13* Inferior 7 to 11 LOCKS— Merino ... 12 to 154 Half-bred 9 to 12 Cross-bred 7 to 11