RISING WOOL PRICES

Hawera Star, Volume LII, 31 January 1933, Page 8

RISING WOOL PRICES

SECOND DUNEDIN SALE ADVANCE OF l£D TO 2D STILL UNDER PRODUCTION COST. (Bv Telegraph—Press Association.) DUNEDIN, .Tan. 30. The second series of Dunedin wool sales was held to-day. The sale was a limited one, and brokers offered their full quotas, the total number of bales auctioned being 30,171. Although prices are still below the cost of production, growers showed more readiness to sell, and only in isolated eases were high reserves placed on edips. This resulted in very few passings. Buyers were represented in full force, but from .the outset it was noticeable that the Continental section controlled the sale. Their limits were more elastic than those of Bradford, with the result that buyers representing the latter were unable to compete. This quietened the tone of the sale and there was not the same animated competition as in the December sale, where all sections of the trade were keenly competing. After four years of dragging sales it was very pleasing to those interested in the wool industry to hear the improved prices bid by the Continental buyers, who appeared to purchase with renewed confidence. Following on the improvement in values at Home, finer wools showed an advance in price over the last sale held here. The advance was also increased by the difference in exchange, and values improved from 14d to 2d per lb. on all grades of fine wool. In some eases of outstanding quality the improvement was more marked. Crossbreds were also very firm, especially for super quality showing any fineness. The advance registered for crossbreds was fd to Id per lb. on the December prices. The top prices realised for fleece wool were I3sd for 10 bales of super Corridale, and 13-Jd for eight bales of super Merino ewe and five bales of super Merino wether.

At the wool sales .11,704 bales were offered, of which 10,907 were sold, while 2384 were disposed of privately. There was .strong general competition with a special demand for skirtings. Prices were generally firm at recent levels. Greasy Merino fleece sold to 19 : }d. The average price, of wool sold last week was £ll 10s Id per bale, or 9.14 d per pound.

Following is ‘the official ra ng;e of prices, together with those of the December sale-:— Jan. Dee Merino— Extra super . to 121 to 122 •Super 10 to 12 9 to 11 Average .. 81 to 92 71•to Sf Inferior ... 6 t.0 72 *5 to 62 Corriedale — Extra super . to 132 •Super .... 11 •to 121 Average .. 10 to 102 Pine halfbred— Extra super . 121 to 132 ii to 12 Super 11 to 122 91 to 101 Average .. 92 to 101 72 to 92 Inferior ... S to 91 6 to 71 Medium naif bred— Exrra super . 12 •to 132 91 to 11 Super 10-I to 111 82 to 92 Average .. 0 to 10 72 to ■8 Inferior ... 72 to 82 6 to 7 Extra fine crossbredExtra super . to 111 •Super 81 to 92 72 to 82 Average .. 7 to •8 6 •to 7 Inferior . . . 51 to 62 5 to 6 Fine crossbred-— •Super ..... 71 to 82 <52 to 71 Average .. 6 to 7 53 to <31 Inferior ... 4J to 51 31 to 5 Medium crossbred — ■Super 0 to 7 52 to 6 Average . . 42 to 53 4 to 5 Inferior ... 3 to 41 21 to 32 Hoggets— Halfbred .. 9 to 112 5 to 8-2 Crossbred .. 02 to< 81 41 to 7 Bellies and Pieces. Merino — 'Good to super 8J to 101 (y.V to 82 Low to mod. 51 to 8 41 to (52 Halfbred— •Good to super 9 to 111 7 to 91 Low to med. 61 to 8 32 to 61 Crossbred— Good to super 7 to 9 5 to 7 Low to med. 4 to 6 21 to 41 Cru tellings — Med. to good 3| to 45 2-h .to 42 Inf. and seedy 11 to 3 01 to o Locks. Merino .... 11 •to 3 i to 9 a Halfbred .. 3 to 32 i to 3 Crossbred .. 11 to o.i. 01 to 11SYDNEY WOOL SALES SYDNEY, Jai . 30.