FALL IN PRICES.

Grey River Argus, 13 February 1929, Page 5

FALL IN PRICES.

N.Z. WOOL MARKET. Christchurch Sale. (Per Press Association). CHRISTCHURCH, .February 12. The third Christchurch wool sale of the season was commenced to-night at 7.30, and adjourned at eleven till nine o’clock to-morrow morning. To-night 8,400 bales of a total catalogue of 24,031 were Offered. There was a full bench of buyers in The sale was not long jn progress until it was plainly apparent that there was pronounced casing on values prevailing at last Christchurch sale in January. For better grades of halfbred Corriedale, values ranged a full l|d to Hd a lb lower; for coarse crossbred and pieces about Id to lid lower; and for fine crossbred about Id lower. Merino apparently was not wanted, and the clips offered, compared with the January sale, showed a drop of over 3d a lb. All wools above a 56 count failed to hold Timaru values, but the rates at the latter sale were maintained in other classes, with the 1 competition considerably freer. In making a comparison with the January sale, some allowance*, has to be made for the much heavier condition of to-day’s catalogue. The heavy rams during the shearing season were responsible for a general lowering of standard and an increased quantity of eotted wool. The top price of the sale was 22d for two lots of Corriedale and one of halfbred. It was only in occasional cases 21d was exceeded. Compared with the January sale, the top prices were as follows: — Merino 20fd (234 d in January), Corriedale 22d (26d), halfbred 223 (24jd), three-quarterbred 18|d (20|d), crossbred 16|d (17|d), pieces 20|d (22d), crossbred pieces 104 d (12|d), locks lOjd (13|d), bellies 14|d (17dj, crutchings ll|d (’4d). Allowance should be made in this comparison for the heavier condition of the wool. The buying points were much more widely spread than at January sale. The drop in prices apparently permitted Bradford operations to a much freer extent, and a fair proportion of the wool went their way. The Continent, however, again appeared to be the main outlet, and the bulk of the coarse wool and pieces was purchased by Continent-al representatives.

The better class fine wools were successfully competed for by local mills. The passings over the first two catalogues aggregated about 1000 bales, or about 12 per cent, of the offering. SYDNEY WOOL MARKET. SYDNEY, February 14. At the wool salas to-day, 10,987 bales were sold. There was strong competition, and the market was firm at yesterday’s levels. Greasy merino sold to 35Jd.