N.Z. WOOL MARKET

Grey River Argus, 14 March 1935, Page 3

N.Z. WOOL MARKET

TIMARU SALE. PRICES LOWER. (Per Press Association.) TIMARU, March 13. The second and final Timaru wool sale of the season was held this morning, when an offering of 22,158 bales was submitted. There was a full bench of buyers but values of the first two catalogues did not show any improvement in rates on recent sales •Good x wool solei much on a par with Dunedin, but for discoloured and inferior lots, competition was irregular. Pieces were inclined, to be a shade easier, from a farthing to half-penny. Bradford and Continental buyers were the principal operators, with Japan securing suitable lots. Germany operated sparingly. The wool opened up very dry and discoloured, a large quantity being yellow, due to seasonable condition* and wet spring, followed by phenomenally hb|t weather causing sweating. The wool ""was also a shade coarser than usual. Prices were: Merino; Super 9d to 13|d, average B|d, inferior 7d. Halfbred super 10.3 d to 11 Ad, average B|d to 9’d, binned to 124 d. Three-quarter-bred. super 9d to lOd, average S3 l inferior s|d. Crossbred, super 9fd to inferior from s|d. Corriedale to 10fd. Halfbred pieces fid to 93d. Three-quarterbred nieces 5d to 6d. Crossbred Sd to 9ld. Half-bred necks Sd to 9-Jd. Three-quar-icrbred necks 4}d to 6}d. Pieces: Merino 7d to 9|d; threequarterbred 5d to 6d. Half-lVed bellies and necks 7:}d tv lOd. Merino pieces and necks lOjd. Threp-quarterbred pieces and necks I’d to 6d. OFFICIAL PRICE RANGE. TIMARU, March 13. Prices at the second wool sale of the season in South Canterbury today acre firm on current rates. A full bench of buyers operated on the catalogue of 22.158 bales. Station clips opened up well, but those from Ihe plains and foothills showed discolouration owing to adverse weather conditions. Growers met Hie market fairly well., the ultimate percentage of passings being comparatively small. r l’he chief operators wore Bradford and Continental buyers, with the Japanese picking up suitable lots. The German represent at i ves operated very sparingly. Keen interest was displayed in the inrrino wools, some of which were the best seen in the district for a. long time, and they topped the market at 13:|d. Halfbreds reached 12Jd, and t hree-qua rterbreds The official range of prices was:— Merino: Extra super to 133 d, super 10j to 12.{d, medium 86 to 9d, inferior 6 : ;d io Vid. Fine half bred, 56/58: Super lljid to 12Ad. medium !>: t : d to 151(1. inferior 53d 1o Sid. Medium halfbrcd 50/56; Super 9<l to medium 74d to S2d, inferior 6 ; ]d t n 7|d. Three-quarterbred, 48/50: Super Sd to 9d. medium 6:|d to inferior 53d ‘to 6Ad. Medium crossbred, 46/48: Super 6 ; }d to 716, medium 5.3 d to 6.J6. inferior 43d to 51-d. Coarse crossbred. 40/44: Super 516 to 6}d, medium 4}d to sd. Hoggets, 56/58: OJd to 103 d; 50/56. •8d to 83d; 48/50, 73d to Sid; 46/48, 5d to 7d; 40/44, T|<l to 51<1. Necks: Merino 8d to 10}d. halfbrcd 9d to 10d, three-quarterbred 6d to 6:bl. Pieces: Merino 73d to Sid; halfbred, good to super Sd to 9Ad, low tn medium -13 d to 76; three-quarterbred 4(1 to 63d; crossbred 316 to s’d. Bellies: Merino to Gid; halfbred, good to super 71d to 84d; low Io medium 5d to 6d; three-quarterbred 3]d to 6d: crossbred 3}d to 4.]d. Crutfilings: Fine to 63d; strong 3d to 4d SYDNEY WOOL SALES. SYDNEY, March 13. At to-day’s wool sales, 12.292 bales were offered”. There 'wore 11 J 63 sold, also 1.573 privately. Bidding was spirited from Yorkshire and Japan, and tliere was good support from the Con- ' were very firm. Greasy merino sold to 17]d. LOWER PRICES AT LONDON. LONDON, March 12. The wool sales have opened. Merinos were par to five per cent, decline, crossbreds 5 to 71- decline. A total of 8766 bales was offered, including 3643 New Zealand and 1046 Australian. There was a poor selection. The approximate sales were Australian and New Zealand 3804 bales. There was a. large attendance and brisk general competition, especially from Yorkshire. With a strong undertone, the market is firmer than was generally anticipated. Compared with February, the closing prices of merinos and greasy fine were unchanged; medium and low declined by 5 per cent.; crossbreds fine declined by 5 to 10 per cent.; medium declined 5 to 7-i per cent.; coarse par to 5 per cent, decline. New Zealand greasy crossbred, Katakaue, top 9Ad; average 7sd. Slipe halfbred, Gear 103-d; average 10 5-Bd. GERMANY’S WOOL SUBSTITUTE. LONDON. March 12. Mr Heath, the New South Wales Government representative in London, on his return from the Leipzig Fair, issfued a grave warning of the extent of Germany’s development of a substitute called woolstra, which is a mixture of wool and board pulp containing wool, in percentages varying from 30 to 50 per cent., according to the cloth required. “Germanv frankly wants our wool, but is unable to arrange credits to buy on the former scale. There is no antagonism towards Australia, but merchants point out that, they sent us only £2,000,000 worth o£.exports during the year ended June 30, 1934, while thev took £7550 000 worth from Australia. Noboflv pretended that woolstra is as good as wool, hut I was strongly impressed bv the extent to which the nation under stress will use it willingly. Merchants say that if supplies were available, they could have sold it months ahead. I do not want to create alarm. There is no great immediate menace, but. the seeds of real menace are there. Those disparaging woolstra. ought to remember the quality of early rayons and artificial silks.”