CANTERBURY WOOL

Grey River Argus, 13 December 1938, Page 7

CANTERBURY WOOL

> A GOOD SALE Coarser Sorts Go Well NORTH ISLAND VALUES MAINTAINED. [Per Press Association.] CHRISTCHURCH, December 12. Values at the first Christchurch wool 'sale of 1938-39 season were not particularly satisfactory to the growers, but were fully up to the levels which the North Island sales and the market overseas had led the brokers and others to expect. The sale was animated and steady < throughout, with, if anything, a slight firming over the last catalogue. Fine wool values came down to expectations at first, when prices were from lid to 2d cheaper, and for super wools 2id less than at the corresponding sale lg.st year. Though prices were I below those at the December sale last year, they were about the same as for the last two Christchurch sales of last saeson. Crossbreds sold well, and met with spirited competition at North Island values. The offering of close on 24,000 bales comprised mainly hoggets, halfbreds and Corriedale clips, with a few odd lines of crossbred and three-quarter-bred. Competition was animated at the start of the sale, most of the bidding coming from Continental and Bradford buyers. America and Japan were minor factors in the market, and Germany operated to some extent. Because they were well supplied at last sea-, son’s low prices, the local mills were not particularly interested in super wools, and the wools, as a result,! sold relatively worse than lower gradings, and recorded a drop of close on 3d per" pound. In some cases, the local mills took a few lines of oddments, but little else. ’ 1 The first catalogue, comprising 659 lots and 5588 bales, was disposed of in! 'just over an hour. The passings in this lot amounted to little more than It.per cent. Rises of id in the bidding were fairly common. The types of wool most in demand were coarse and medium halfbreds and cross- ( breds. i

The wool generally was in very attractive condition, having opened up surprisingly well after the wet winter. The absence of dry yolfe was a feature.

The sale continued briskly, with passings on the first five catalogues at about five per cent. There were few withdrawals, the vendors evidently being anxious to meet the market in view of uncertain prospects. The top price on the morning sales was 16d, secured for four bales of halfbred ewe sold on behalf of J. F. Scott (Mourit Pleasant). The’Gowan Hill brand of L. W. Ferguson (Weka Pass) made the Corriedale .top price of 15Id for twelve bales of ewe. Tauhinu-Rydal Downs Corrihdale hogget tops made 15d, and this price was also shared by four bales of hogget from Rydal Downs and twelve bales of ewe wool from Longbeach. The best merino price was 13d, paid for nine bales of ewe from W. J. Woods (Methven) branded Riverview. Crossbred made to 113 d paid for 14 bales sold by Dalgety’s. As the sale progressed, although limits appeared to be strictly defined, the buyers operated with keenness. From the opening catalogue Indeed, they maintained their brisk demand for almost every type of wool until the end.

An indication of this was that, when the star lots were offered at the conclusion of the main catalogues, the bench was still almost full. The demand was well spread among the Bradford and Continental buyers, with American operators taking a good proportion of an excellent offering of hoggets. Out of the catalogue of 23,964 bales, only 564 bales, or 2.3 per cent., were passed. The buying was well spread, and eager, as the very rapid time of under six hours for the sale indicates. The main Continental sections of the market, including Germany to a marked extent, were in the market for most classes of wool, the French, as usual, showing a partiality for pieces of all sorts. Bradford was bidding animatedly all day, and lifted the large proportion of the coarser wools. The local mills, in contrast to their usual practice at Christchurch sales, operated sparingly, and lifted only a small proportion of the amount that they bought at the corresponding sale last year. Their lack of interest in the sale was particularly noticeable on the choicest wools, on which they usually bid among themselves to prices well above the market average. This, probably, accounts for a lack of spectacular prices. The mills bought -heavily last year, when wool came down sharply from the previous season, and asTnany of them have not been fully occupied since, their stocks are heavier than usual.

American interest was mainly in fine halfbred hoggets, which are a feature of the first Christchurch auction. Buying was at one time strong from this quarter on similar wools, but, for some years, mainly owing to a heavy import duty on fine wools, American participation has been small. Though -the Anglo-American Trade Treaty, recently completed, 'did not specifically alter the duty on wool, it is felt that the renewed interest of America in the New Zealand market may be the result of the treaty. Values, as a whole, were down by round 2d to 24d per lb. on those ruling at the December sale last year, but it would be remembered that the values then were a surprise to all in the trade, and were definitely above the then market. Finer wools, specially super quality, were markedly down, but sound coarser wools were affected to a smaller extent. Little fine wool is sold at the North Island sales, but the values for these, as for crossbreds, were fully up to those ruling at the northern auctions so far this season. It is usual at the first Christchurch sale, the first of the New Zealand season at which there is sufficient halfbred and merino to establish a market, to notice some hesitancy among the’ buyers until it is seen how. the sale wiii go, but there was none of this hesitancy to-day. The buying was strong and sustained within its limits. The catalogue offered to buyers was of excellent general quality. The hogget wools, of which a large proportion was included, were outstandingly good. They opened up much better than was expected, and handled beautifully. The ewe wools from some of the earlier shorn clips were also excellent, though a trifle heavier in condition than the hoggets. There was

practically no sign of the dry yolk that piade its appearance in much of the wool last season. All types sold to eager buyers, though some of the lowest pieces and crutchings were hard to quit. The top price was 16d for halfbred ewe, and 15d was exceeded often for Corriedales. Following is the range of prices compared with the April sale which concluded last series in Christchurch: Extra Fine Crossbred— April 8 Dec. 12

NEW RECORD

SYDNEY WOOL SALES. [Aust. & N.Z. Cable Assn.l SYDNEY, December 12. There was a new season’s record for greasy merino, made at to-day’s wool auctions, namely 24d per lb. for six bales from Walcha. Competition was strong from the Continent and Yorkshire, with wider support from Japan. There was an exceptional demand for speciality lines." The average price of wool at last week’s rates was £l3 14s 5d- per bale, or lid per lb. ■

d. d. d. d. Merino — Super 11 to 12 Hl to 13 Medium 10 to 103 101 to 111 Inferior 63 to 91 8 to 10 Corriedale— Extra. super — to —<-* 14 to 155 Super 125 to 143 121 to 132 Medium 101 to 12 101 to 121 Inferior 8 to 10 91 to 101 Fine Halfbed — Extra super — to — — to 16 Super 121 to 151 13 to 141 Medium 101 to 121 101 to 122 Inferior 81 to 10 91 to 101 Medium Halfbred— Super 111 to 121 111 to 121 Medium 10 to 111 10 to 111 Inferior 7 to 91 ' 8 to 92 Extra Fine CrossbredSuper 102 to 13 103 to 12 Medium 9 to 101 91 to 101 Inferior 7 to 81 71 to 91 Fine Crossbred 101 to 111 101 to 112 Medium 9 to 10 9.1 to 105 Inferior 7 to 83 7 to 9 Medium CrossbredSuper 92 to 101 10 to 111 Medium 9 to 91 95 to 105 Inferior 7 to 82 71 to 9 Bellies— Good to super 93 to 121 91 to 121 Low to medium 51 to 9 4 to 9 Pieces: — Good to Super 82 to 121 81 to 125 Low to Med. 4 to 81 4 to 85 Crutchings:— Med. to Good 51 to 82 6 to 91 Inferior 21 to 51 32 to 52 Locks:— Good to Sup, . 41 to 61 51 to 71 Low to Med. . 22 to 41 3 to 5