FIRM ON TIMARU

Evening Star, Issue 23145, 20 December 1938, Page 8

FIRM ON TIMARU

WOOL SELLING SEASON OPENS LIVELY COMPETITION WITHIN DEFINED LIMITS CONTINENT DOMINATES THE MARKET A full bench of international buyers faced the auctioneers at the opening this morning in the Burns Hall of the first of the Dunedin series of wool sales. Altogether 24,273 bales were to be disposed of during the day, and an excellent start was made, over 8,000 having been cleared in a little over two hours. Values through the morning were firm on the Timaru market of last week, and over 90 per cent, of the offering was sold. A noticeable feature of this morning’s sale was that the competition, which was lively within the buyers’ defined limits, was more spread than in the northern sales. The Continental operators were the principal buyers, with strong support from Bradford. Germany was in the market, but not to a great extent. Japan was also making small purchases. The local mills were taking super, lots, and were buying more than they did in the north. It is natural, of course, that they should buy more in Dunedin, as this eliminates the shipping and freight charges associated with their purchases in the north. France was taking the skirtings on offer, and Belgium was also interested in this market.

As regards quality, the display was not quite up to Dunedin’s usual standards. The ewe wool was generally somewhat shorter and thinner in fibre, and the bulk of the hogget wool showed the results of adverse weather conditions. North Otago wools, however, were better grown and more free from rust than usual. The Central clips were patchy. Some of them showed an improvement on last year, but others were not up to the customary standard. TOP PRICE 15id. Taking into consideration the character of the wool oh offer, values were firm on Timaru, a general level maintained throughout the morning. Practically four catalogues, covering nearly 12,000 bales (about half the total offering) had been cleared at the luncheon adjournment. From the commencement the bidding was very spirited within the limits imposed on the buyers. There were outstanding clips in several catalogues. At the adjournment the top price realised was for four bales of super, combing fine half-bred ewes and wethers, 15Jd being paid for this consignment. Another five-bale lot of extra super, half-bred ewes and wethers brought 15d. Both came from Mr James M'Arthur’s property at Clyde. A price of 15d was also secured for five bales of super, combing half-bred ewes and wethers sold for Mr 'W. Johnstone, “ The Gums,” Teviot. These lots were taken by the local mills. Superfine crossbreds were cleared at from lid to ISJd, and medium cross-breds of super, quality brought from lOd to lljd. Good l to super, half-breds generally sold at from 10|d to lljd. There appeared to be some laxity in the matter of_ skirtings, which evidently do not receive sufficient attention. Some very useful clips were marred by the presence of these fatty skirtings.