WOOL SALE

Evening Star, Issue 20979, 18 December 1931, Page 8

WOOL SALE

AN ENCOURAGING OPENING PRICES GENERALLY HIGHER The prices realised at the wool sale yesterday must, under ruling conditions, bo very satisfactory to growers. The prices snowed a considerable advance on those realised at the first sale of last year, and the top price yesterday was as high as that ruling at the close of last session. Compared with tho first sale of last season, half-bred wools showed an increase of from lid to 2d, with choice lots showing an even wider range. Merino showed a rise of from Id to 2d, and lino cross-bieds were IJd to 2d up. P The following is the official range of prices, together with those for tho December sale of last year:—

GENERAL OPINIONS

The opinion, about town this morning seemed to be that tbe position was encouraging. Some wool growers, especially those from Central Otago, were quite cheerful. Their wool was of the fine quality, and it was in excellent condition. As a result where they received 3s or 4s per head last year this year they obtained 7s or Bs. -However, after allowing for interest and other charges their profit was small. Some surprise was expressed that Japan was holding back, and one of the reasons given for this was 'that Japan in the past few days has gone off the gold standard. American buyers, too, were not prominent, and were operating on comparatively low limits. This was looked on in some quarters as strange in view of the fact that the exchange was so much in America’s favour at present. ~ . _ When interviewed, Mr A. C. Cameron, secretary of the Otago branch of the Farmers’ Union, stated that while farmers generally were very pleased to see a firmer tone at yesterday’s sale and to see prices advance, it had to be remembered that yesterday’s prices merely minimised the Joss which wool growers were making. No one expected to see 1924-25 prices again when the average price per bale in Otago was £2B 9s 8d per bale for the season. On yesterday s sale the average value of Otago wool per bale might be estimated at from £9 to £lO per bale. To pay interest or present Government rentals and other farming costs as they stood to-day the average price for Otago must advance to at least £ls per bale. With world conditions a*s they were, continued Mr Cameron, it was too, much to expect that wool would advance this season to this extent, which meant that serious losses would be made again this yearlosses which would have to be borne by someone. As very few sheep farmers had cash reserves it was obvious that all other services would suffer, and that the position would seriously react upon the prosperity of the city. A rise of Id per lb in the price of wool meant approximately 30s per bale, and the progress of subsequent wool sales would no doubt be watched with great interest by wool growers.

Dec., Dec., 1931. 1930. s. d. s. d. Merino— Extra super. to 124 Super. ... Average Inferior 94 to 11 74 to 81 5 to 62 6 5 to 74 to 5| Fine half-bred — to 94 Extra super. 11 to 12 Super Average 9* 8 to 102 to 9.} 74 64 to 84 to 74 Inferior ... 6* to 5 to 6 Medium half-bred — to 8| to 8 Extra super. Super sl to to % 74 Average Inferior 64 to to 84 n. 6 5 to 7 to 6 Coarse half-bred — to 7 Super 81 to 94 64 Average Inferior 7i 6 to to 84 74 44 to 64 to 5 Fine cross-bred — to 62 t0 « Super Average 1\ to 61 to 81 n 6 5 Inferior 5 to 64 4i to Medium cross-bred— Super Average a to to 74 6 54 to 64 5 to -54 Inferior 4 to 5 4 to Bellies and pieces, merino— to 64 Good to super. 6 to 8-i 5 Low to medium 41 to 5i 3J to 41 Bellies and pieces, half-bred — Good to super. 7 to 10 42 to 74 Low to medium 4 to 64 3 to 44 Bellies and pieces , cross ;-bred— Good to super. 44 to 64 34 to 5 Low to medium 24 to 32 24 to 34 Crutchings— ox. W 4 to 34 Medium to good 24 to 44 Inferior, seedy 1 to 2 1 to 2 Locks 1 to 24 1 to 24