SECOND WOOL SALE

Evening Star, Issue 21638, 6 February 1934, Page 8

SECOND WOOL SALE

HIGH BIDDING MAINTAINED ESTIMATED PROCEEDS—£69O,OOO As a result of the wool sale yesterday in Burns Hall, it is estimated that the province will benefit from proceeds amounting to £69O,(XX), which, with the £561,000 that was paid out on the December sale, means that the total cheque for the season so far is £1,251,000. In view of the fact that the amount taken at the corresponding sales last year came to less than £500,000, it should not be difficult to gauge the satisfactory nature of L the big increase in prices. Although yesterday’s sale was not noteworthy for quick-fire bidding, the offers, especially for fine wool, remained consistently high all day, pieces, as well as fleece, being in keen demand. It has been calculated that the total passings averaged 7J per cent., but when ft is considered that private sales were effected before the lots were offered, and that other sales were effected to-day, the carry-over should not come to more than 2J < per cent, of the total offering. In estimating that the sale will have yielded £690,000, this 21 per cent, has been taken into consideration. The passings were mainly in the lower grades of crossbred wool, for which the demand was slightly weaker than in December. The average price per bale is said to have come to at least 15Jd lb, as against an actual average of 13.89 d lb at the last sale, while the average per bale yesterday has been estimated at £23 10s, as against an actual average of £l9 3s 6d in December. The top price for the second sale was 26id, which was procured for twelve bales of extra super, half-bred sold by the Otago Farmers’ Co-op. Association Ltd. in the afternoon. OFFICIAL REPORT. The Dunedin Stock Agents and Woolbrokers’ Association report that there was a total offering of 30,338 bales. At the outset it was noticeable that competition was not so keen as at the first sale held here in December. The bidding lacked animation, and the sale was a comparatively slow one. Catalogues contained a large proportion of fine wools, and the quality offered was exceptionally good, there being a number of outstanding station clips forward. For finer wools prices were firmer by about one penny to a penny half-penny on the December sale, but cross-breds, particularly coarser grades, were from par to a shade easier. The main competition came from the Continent, chiefly on German account, Bradford and Japan both being quiet and only picking up lots suitable for their requirements. When super halfbreds came under the hammer the local mills would not be denied, and they secured a large portion of these wools. For pieces showing quality there was a particularly good demand from the Continent, and super lines, when suitable, were eagerly bought by the local mills. The official range of prices, compared with the first Dunedin sale is as follows ;

Dec., 1933. Feb. , 1934. d. d. d d. Merino— Extra super. to 22} to 221 Super. ... 18 to 191 19 to 211 Average ... 161tol7£ 171 to 18| Inferior ... 15 to 1C 16 to 171 Fine half-hrpd: 56/58’s — ' Extra super. to 22£ to 261 Super. ... 20 to 22 . 211 to 231 Average ... 18 to 191 19 to 21 Inferior ... 151 to 17_ 16 to 18 Medium half-bred; 50/56'sextra super. — to 23£ Super. ... 19 to 211 201 to 22J Average ... 171 to 18£ IS! to 20 Inferior ... 15 to 17 15f to 171 Fine cross-bred: 48/50’s — Extra super. 18 to 191 to 20 Super. ... 16 to 171 161 to 171 Average ... 14 to 151 13 to 15 Inferior ... 121 to 13| 111 to 12! Medium cross-bred: 46/48 s— Super. ... 131 to 14J 121 to 14 Average ... Ilf to 13 11 to 121 Inferior ... 11 to 12 10 to 10| Cross-bred, 44/46’s — Super. ... 11 to 12£ 101 to 12 Average ... 91 to 10£ 9 to 10 Inferior ... 8 to 9 71 to 81 Half-bred necks and pieces Good to super 171 to 21 19 to 22£ Low to med. 13 to 161 14 to 171 Cross-bred necks and piecesGood to super. to 17 14 to 16 Low to med. 7 to 10 7 to 91 Half-bred bellies— Good to super. 13 to 161 $14 to 17 Low to med. 11 to 12£ 111 to 131 Cross-bred bellies— Good to super. 10 to 12 91 to 11 Low to med. 7 to 9J 7 to 9 Crutchings— Extra good to 131 — Med. to good 9 to 12 9 to 121 Fair and seedy 5 to 81 5 to 81 Locks— Extra good to 91 to 11 Med. to good 5} to 815! to 81 Inferior ... 3 to 5 4 to 0