COMMERCIAL First Wool Auction for Seven Years

Greymouth Evening Star, 19 September 1946, Page 4

COMMERCIAL First Wool Auction for Seven Years

(P.A.) WELLINGTON, Sept. 18. High prices .for slipes and clean scQured wools were generally the order of the day at the first free market wool offering of the New Zealand season when the auction system was resumed after seven years with a sale in the Wellington Town Hall to-day. Crutchings sold in many instances at substantial advances on last season’s appraisal values, though some lines failed to reach the reserve minimum prices fixed, by the Wool Disposal Commission. Thirty-three pence was paid by the representative of an English firm for one top quality offering of slipes, and 32’d for another. Clean scoured wools went at prices up to 31|d to the same buyer. It was evident that continental buyers were seeking best quality wools. This was the first time slipes had been offered under the hammer in New Zealand. Gratifying Prices. The catalogue of 10,134 bales consisted of 6734 bales of crutchings, and 3400 of stock wools, comprising greasy, scoured, and slipes. Though prices on the whole were gratifying, they are not accepted as giving any significant lead on this season’s values, the real trend of which will be determined when the main clip is offered in November. Not much attention was paid to fleeces, buyers preferring to wait for the November sale. Bellies and pieces were neglected. Dead wool was not sought at all. Prices for scoufled wools, on the other hand, were well above the reserve which had been fixed in some cases. Operating as direct purchasers at the sale were four French buyers, one Belgian, while a Swiss representative was present as agent for a number of Continental firms. French buyers, who had already taken 170,000 bales of New Zealand wool on allocation between January and June 30 last, said their limits were governed by the credits available to them, but the reluctance of New Zealand to take French exports had not assisted their financial arrangements. All the excitement characteristic of pre-war auctions was evident. Following is the official range of prices:—

London Demand for N.Z. Wool

[N.Z.r.A. Special Correspondent.] LONDON, Sept. 17. Yorkshire trade opinion is that the first London wool sales had a remarkably good send-off. Less than 1 per cent, of the first week’s offerings was not taken, which is evidence of the strong demand. In terms of values it is calculated here that the London sales fully confirm Dominion market values. Of the wools so far sold, by far the larger proportion has gone to the Continent, whose representatives are dominating the sales in almost every section and paying prices well out of the reach of the Yorkshire trade in view of the controlled prices of cloth for the home market which Yorkshire buyers must have in mind. New Zealand will be interested to learn that it is in the purchase of New Zealand wools that Yorkshire competition is strongest. Both combing and clothing sorts are keenly sought after by Yorkshire, and slipe wools suitable for the blanket trade are selling well. EXPORT VOLUME LOWER LAST YEAR An excess of £28,027,005 ol exports over imports by the Dominion is recorded for the year ended last June. The record value of £90,673,856 for exports was achieved mainly as the result of increased shipments of wool, the value of this commodity exceeding that of the previous year by £11,526,513, reports the Abstract of Statistics. Pointing out that export statistics for recent years “cannot be regarded as giving the same reliable indication of production, as formerly,” the Abstract says that the figures are, however, of interest. A comparison of external trading for the last five June years is:— „ o . Excess or Exports. Imports. Exports. £ £ £ 1942 .. 7-1,039,151 1943 .. 71,711,929 9:18,098* 24G,1GA 194.1 73,235,274 97,779,jGj* 24,:i44,4!).i 1945 ” 80,922,973 07,734,502 19,188,471 19-10 .. 90,673.850 62,646,851 28,027,00:> ,

♦Excess of imports. . To give a correct indication of the changes in the physical volurhe of New Zealand produce exports in a period of changing price levels, the Abstract publishes tables showing that the value increased from IJ3J to 1946 by 55 per cent, and the volume by 4 per cent. In 1941-42 the volume increased by 5 per cent, over 1938-39, but it dropped by 1 per cent, in 1942-43, by 5 per cent, ini 1943-4% and by 1 per cent, in 1944-45. . Principal items of exports showing decreases in 1945-46 were bu , cheese, frozen lamb, and frozen m ton.

Crutchings d. d. Half bred— Good to super .. -— — Average 9 to 10 Inferior and seedy .. — Three-quarterbred— Good to super . . — to 131 Fine Crossbred— Average 10 to 121 Inferior and seedy .. 71 to Crossbred— Extra super — to 21{ Good to super . . 16 to 19 Average 12 to 151 Inferior and seedy . . 8 to Ilf