SOUTHLAND WOOL SALE

Greymouth Evening Star, 4 February 1939, Page 5

SOUTHLAND WOOL SALE

PRICES’ UPWARD TREND

(FEB PBESB ASSOCIATION.I

INVERCARGILL. February 3. The Southland wool growers to-day received the benefit of the. first upward tendency in the market for wool since the decline which occurred about the middle of last month. The market for the first Invercargill sale of 24,000 bales was very firm, and showed an improvement of from a farthing to a halfpenny per lb. compared with the recent northern sales. While prepared for reduced prices compared with last, year, the growers found, the sale above their expectations and practically the whole catalogue was sold. For lots which, were passed, there was considerable activity between the buyers and brokers after the sale, and the carry-over of wool will be negligible. French buyers dominated the' market. throughout, the sale. From the outset, it was apparent that, they were in the market for crossbred wool, as well as for piece wools, which normally attract French competition at. Invercargill. Bradford buyers were also keen, and lifted a considerable proportion of the catalogue, but they had to extend their limits to meet, the strong Continental competition. There was a good demand from all quarters, smaller proportions' of the offering going to Japanese, German, Russian, Belgian and American buyers.

As has occurred elsewhere this season, fine wools suffered the. greatest reduction as compared with last year, but coarser grades of crossbreds, which comprised the bulk of the catalogue. showed a much smaller reduction, and, in some' cases', actually brought the same prices as at the first sale last year. The wool was in fair condition, but the effects of a dry autumn last year and a shortage of winter feed had an effect on the wool, with the result that there was probably a greater percentage of shabbier grades of crossbred wool than usual. Actually, this class of wool was in the greatest, demand, and the catalogue appeared completely to suit the immediate requirements of the buyers. The official report, says: Taking into consideration the dry weather last autumn and the winter, the wool opened in good condition. Prices were slightly better than at the recent sales held in the northern centres, and, in most cases, exceeded the broker’s valuation, with the result that 96 per cent, of the catalogue was sold at auction. Bradford and France Were the principal operators, while Russia and Japan, Germany and Belgium were also in the market to a lesser extent. The price of hogget wool was practically on. a par with the prices obtained in the northern, centres, but crutchings and good type crossbred ewe wools were distinctly firmer. The official range of prices is as follows: —

d d Lincoln 12J to 13i Southdown A Super 10 to 111 Southdown B 8 to 99 Halfbred 50/56 — Super 109 to 111 Average 10 to 101 Inferior 9 to 99 Extra Fine Crossbred 4S’sSuper 104 to 11 Average 91 to 10 Inferior 9 to 94 Fine Crossbred 46/48 — Extra Super 111 to 12 Super 10 to 11 Average 94 to 99 Inferior 8 to 9 Medium Crossbred 44/46 — Super 99 to 101 Average 9 to 9-i Inferior 8 to 9 Coarse Crossbred 40/44 — Super to 10 Average 81 to 94 Inferior 74to 84 Hogget— 40’s/56’s 92 to 102 '4S’s/50’s 9B to 11 46’s/48’s 9 to m 44’s/46’s 9i to 10 Necks — Fine 10 to 109 Crossbred 9 to 10 Crossbred Pieces — Good to super 84 to 94 Average 64 to 8 Crossbred Bellies — Good to super 8 to 89 Average 7 to 79 Crutchings— Inferior and seedy 71 to 91 Inferior and Seedy 6 to 7 Locks 41 to 59