CANTERBURY WOOL

Evening Star, Issue 23179, 31 January 1939, Page 6

CANTERBURY WOOL

THE CHRISTCHURCH SALE DUALITY BELOW USUAL STANDARD HALF-PENNY DROP ON BULK OF OFFERING [Per United Press Association.] CHRISTCHURCH, January 30. Strong and sustained buying on behalf or local mills with good competition from the United States lifted values of high-quality spinners’ wools at the second Christchurch sale of the season to-day well above the values for the corresponding wools at the first Christchurch sale in December. The best of the hogget wools offered. were also dearer, but ordinary to good topmaking sorts, which formed by f f r „ t . h !L® reater P* rt of the offering of 24,31 b-bales, were a full halfpenny cheaper than they were in December. . T h ®. resu *t of the sale was considerably better than had been expected, and, having regard to recent market- trends, was quite satisfactory. though to very many growers the prices received will mean a loss prt the year’s operations, the market rat* was accepted readily, and ? n| y about 6 per cent, of the catalogue failed to find purchasers in the sale room. As at almost all the New Zealand sales this season arid at recent sales overseas, most of the- buyers,' particularly the Bradford and Continental representatives, were tied to very definite limits. On good wools almost invariably after a noisy start the bidding on a lot would into a battle among the local mills, with America coming in strongly on suitable wools. Bradford was obviously strictly limited, and took only % moderate amount of wool, as did Germany. The Continental buyers operated, steadily. Little buying was done on behalf of Japan.

The offering consisted preponderantly of good to super, halfrbreds with a very small showing of merino and crdss-bred wools.

Most of the standard North Canterbury ewe clips were represented, but tn general _ the quality was not up to the very high standard as usually seen at the second Christchurch sale.

The local mills bought little, wool at the December sale, where they are generally , solidly in the market, and their appearance in such strength this time had a very satsfactor.y effect on the course of the prices. They bought mainly the choicest wools, but they also took a fair weight of ordinary qualities, and with the United States made the market for finer sorts. There were excellent American orders for choice hogget wools, and where the quality was right the prices paid were well above those for similar wools at the December fixture.

The Continent showed its usual interest in pieces and ordinary fleece, but limits were rigid, and even good competition from local millmen and American operators could not keep the price of a great deal of the offering from falling when compared with December.

Bradfordifhodght;:. very sparingly, as the limits iwerO' strict;* The German buying was erratic, but a good weight was lifted for Germany. There was no appreciable Japanese buying. Up to limits the bidding was keen and widely spread, but there appears to _be a. most definite point beyond which most operators will not go. The top price for the sale was 16Jd paid for two lots of Corfiedale ewe wool, one of six and one of five bales, from the Hayjand clip of Mr J. D. M'Cracken, and for four bales of Corriedale.ewe wool from the Rydal Downs clip of Mr E. Ensor. The top Corriedale price at the December sale was l&id. Half-breds brought to I6Jd, that price being paid for nine bales of ewe wool from the Fairfield . clip of Mr Wilfred Hall, Hororata. Half-breds topped the December sale at 16d. The best merino price of the day was 15d, which was paid for 17 bales from the Leslie Hills clip of the estate of Duncan Rutherford. From the Montrose clip of Miss Isabel Rutherford nine bales of ewe and five bales of hogget wool equalled the top price. The best merino price in December was 13d

RANGE OF PRICES, Merino, 64-70, 60-64 Extra super., to 15d. Super., lljd to 13$d. Average, lOd to ll|d. Inferior, Dd to 9Jd. Corriedsle — Extra super., to 16*d. Super., 12d to 14d. Average, lOd to lljd. Inferior, BJd to 9jd. Fine half-bred, 58, 56-58, 56 Extra super., t0,164d. Super., 12d to 14d. Average, 104 d to ll|d. Inferior, 7Jd to 9id. Medium half-bred, 50-56, 50 — Super., lid to 12Jd. Average, 9Jd to 10|d. Inferior, 7d to 9d. Extra fine cross-bred, 48-50 Super., lOd to IOJd. Average, 9d to 9Jd. Inferior, 7d to Bid. Fine cross-bred, 46-48 Super., 9Jd to lOd. Average, Bfd to 9Jd. Inferior, 7d to BJd. Piecesi— Merino, good to super., 94d to lid. Merino, low to medium, 9d to 9Jd. Half-bred, good to super., 9|d to 12*d. Half-bred, low to medium, 6d to 9d. Cross-bred, good to super., 7|d to BJd. Cross-bred, low to medium, 6£d to 7id. Bellies— Merino,, low to medium, 6d to 7d, Merino, good to super., 74d to BJd. Half-bred, good to super., 7Jdto BSd. Half-bred, low to medium. 6Jd to 7Jd. Cross-bred, good fo super., 6jd to 7Jd. Cross-bred, low to medium, sid to 6|d. Crutchings— Half-bred, good to super., 6d to 7|d. . Half-bred, low to medium, ojd to 5Jd. Crossbred, good to super. 6*d to BJd. . . Cross-bred, low to medium, oi'.l to 6d. Locks— Merino, 3*d to sid* Half-bred. 3id to sid. Cross-bred, 2sd to 4d.

FMKCHHUKC Pres* Association—By Telegraph—Copyright. LONDON, (Received January 31, at 11 a.m.) Sterling , exchange on Paris, 177; francs to £l.

FOREIGN EXCHANGES UN NEW ZEALAND CURIENCY BASIS The Bank of New! South Wales, Dunedin quoted the following rate* for purchase end tales of foreign exchange (all rate* subject to alteration without notice):—

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) to-day quoted the following dollar rates on a New Zealand currency basis. They- are subject to alteration without notice- ■, U.S.A. • CANADA. (Per £1 N.Z.) (Per £1 N.Z.) SELLING— .. T.T. (doll ... 3.71 3-4 3.74 O.D. (dol) ... 3.72 3.(4 5-8 BUYING— ' O.D. (dol) ... 3.77 9-16 3.80 3-8

DECEMBER COMPARISON. An unofficial range of prices, compared with the December rates, is a» follows: — ,

January 27 .••• •••• 177 January 26 ... 17o 15-16 January 26 ... • •• 177 January 24 • •• ... ... 177 i-16 January 23 January’ '21 ... ... ... 177 1761 January 20 • •• ... •M, 177i January 19 ... . 1774 January 18 January 17 ... ... ... m January 16 ... ... ... .177* January 10 ... ... ... 176 iS-16 January 9 • •• ... 177 5-16 January 5 ... ... 176 11-16 August 31 ... ... 1784 May 7 ... ... ... ... 179s May 4 ... ... 168J April 25 ... ... 1661 March 26 ... ... 163 15-IG March 8 ... 165 15-16 Par with sterling, £1. 123.31 francs u»

London— £100 st*. T.T. Buying; £124 7/6 Selling, £125 N.Z O.D. £123 18/9 £124 19/9 Australia — £A to £100 N.Z T.T, £100 10/ £100 Fiji— £F to £100 N.Z T.T. £90 £88 12/9 New York— Dollars to £1 T.T. 3.7775 5.7245 N.Z O.D. 3.7823 3.7255 Montreal— ' Dollars to £1 T.T. 3.8046 3.7444 N.Z. O.D. 3.8133 3.7464 Belgium— t Belgas to £1 T.T. . 22.423' 21.883 N.Z. O.D. 22.498 21.688 Czechoslovakia — Korunas to £1 T.T. 107.23 N.Z O.D. — 107.25 Denmark— Kroner to £1 T.T. 18.227 17.695 N.Z O.D. 18.287 17.697 Finland — ■ Harks to £1 T.T. 186.24 176.09 N.Z. O.D. 186.64 176.19 France--Francs to £1 T.T. 144.43 139:45 N.Z. ... ... O.D. — . 139.45 Germany— Eeichmarks to T.T. 9.171 £1. N.Z. ... O.D. — 9.173 Greece— Drachmae to T.T. —- 418.90 £1 N.Z. ... O.D. — 419.05 Holland— Florins to £1 T.T. 7.100 ■6.845 N.Z. O.D. 7.140 6.847 Italy— Lire to £1 T.T. 70.56 N.Z O.D. -r 70.56 Java— Florins to £1 T.T. 7.073 6.813 N.Z O.D. 7.113 6.815 Norway— Kroner to £1 T.T. 16.209 15.712 N.Z O.D. 16.269 ■■• 15.715 Noumea— Francs to £1 T.T. ■143.45 135.93 N.Z O.D. — ■ : 135.97 Papeete— Francs to £1 T.T. 148.25 136.25 N.Z O.D. — 136.27 Sweden— Kroner to £) T.T. 15.828 15.326 N.Z O.D. 15.883 15.323 Switzerland— Francs to £1 T.T. 16.841 16.376 N.Z O.D. 16.946 16.378 Hongkong— T.T. 18 25-64 19 3-64 dollar O.D. 18 23-64 19 5-64 India and Ceylon— N.Z. nence to T.T. 22 9-64 22 41-64 1 rupee O.D. 22 7-64 22 41-64 Japan— N.Z. pence to T.T. — ■ 17 45-64 1 yen O.D. — 17 45-64 Singapore— ■ N.Z. pence to I T.T. 34 3-8 34 29-32 1 dollar ... O.D. 34 5-16 34 29-32

Dec. 12. d. d. Jan. 30. d. d. Merino — Ex. super Super Medium ... Inferior ... — to — 11 to 12 10 to 10} 6| to 9i — to 15 H| to 134 10 to 114 8 to .9| Corriedale — Es. super. Super Medium ... Inferior ... — to 15 12i to 134 10i to 12 94 .to 104 — to 16| 124 to 144 10 to 12 8| to 9| Fine half-bred— Ex super Super Medium ... Inferior ... — to 16 124 to 14 104 to 12 84 to 10 — to 164 12 to 14 10 to Ilf ■ 7 to 9| Medium half-bred — Super ... Hi to 13 Medium ... 10 to 114 Inferior ... 8 to 9| 11 to 124 94 to 101 74 to 94 Ex. fine cross-bred — Super ... Hi to 12 Medium ... 9| to 11 Inferior ... 8 to 94 10 to 124 9 to 9| 74 to 8| Fine cross-bred-Super . ... Medium' ... Inferior ... 104 to Ilf 94 to 104 8 to 9 94 to 114 84 to 94 7 to 84 Medium cross-bred— Super ... 10i to Hi Medium ... 94 to 10 Inferior .... 7.J to 9 8J to 10 8 to 84 7 to 7| Bellies — Good to super Low to medium ... 94 to 104 4 to 9 84 to 11 5 to 8 Pieces— Good to super Low to medium ... .84 to 124 4 to 84 8 to 144 34 to 74 Crutchings— Good to super Low to medium ... 6 to 94 3| to 5| 54 to 34 to "I t5 Locks—:' Good to super Low, to medium ... 54 to 74 3 to 5 44 to 24 to S4 4