WOOL AT INVERCARGILL

Hawera Star, Volume LIII, 10 March 1934, Page 6

WOOL AT INVERCARGILL

DOWNWARD TREND CHECKED COMPETITION SPIRITED. OFFICIAL RANGE OF PRICES. (By 1 slagrapn—Press Association.) INVERCARGILL, March 9. The second "wool sale of the season 1 at Invercargill was held in the Civic Theatre to-night. There was a full and representative bench of buyers and competition was spirited throughout. Since the first sale here prices have gradually receded, probably because buyers anticipated a bigger drop in London than actually occurred. The downward tendency seems to have, been arrested and prices, both from brokers’ and growers’ points of view, were tonight very much above what was expected. Generally the wool opened up well. Its condition was probably a little heavier than that offered at the first sale, but this is to be expected at this time of the season, for practically all light condition and station clips were offered at the first sale.

Bradford houses were operating freely at increased limits for crossbreds, while Europe and Japan took most of the fine wools and bellies and pieees. Competition remained strong 'throughout, improving as the sale progressed. Brokers and growers alike seemed satisfied with the market, and the percentage of the catalogue passed in amounted to only between 5 and 7 per cent, of the total. A fair portion of the passings was expected to be disposed of privately after the auction, so the clearance may be regarded as good. A catalogue of 20.074 bales was offer ed at auction.

The top price of the sale was for five bales of super halfbred from Dipton. Following is the range of prices for the two sales of this season at pence per lb., to-night’s figures being given in the second column: —

SALES AT LONDON. A cable received by . the Farmers’ Co-op. Organisation Society of Now Zealand, Ltd., from London states that at the opening of the wool sales prices compared with the close of last series were: Merinos, par to 5 per cent down; greasy fine crossbreds, 5 per cent down; greasy medium and coarse crossbreds, 10 per cent down; slipes, fine unchanged, medium and coarse sto 10 per cent down. Ninetynine thousand bales were in the markets.

Ilalfbrecl— 1st sale. 2nd sale. Super .... 22/ to 24 20 to 213 Medium 19 to 2U 17 to 19 Inferior 14* to 17 14* to 16* Fine Crossbred, 48/50— Super .... 18 to .20 14' to 16 Medium 15 to 17* 13 to 14 Inferior ■13 to .14* 11* to 13 Medium Crossbred, 44/46 — ■Super .... 13* to 15 11 to 12* Medium 101 ,to 12* 103 to 11 Inferior 9 to Id* 9 to 10 Matted— Fine 124 to 13* Nil. Medium 9 to 9* 6* tO' 73 Coarse 8 to 8* Nil. Hogget ... 13 to 16 Nil. Pieces— Half bred .. 173 to IS* 14 to 163 Crossbred . 12* to 13* 10 to 12* Medium 15 to 173 12 to 153 Bellies— ■Crossbred . 11* to 12 10 to 11 Medium S* to 9* 8' to 9 Crutehings— Super .... IS* tO «3 73 to S3 Medium 6* to Si ■53 to' 7 Locks .... 5* to '73 53 to 6