Drop in Wool

Hawke's Bay Tribune, Volume XV, Issue 213, 8 December 1925, Page 5

Drop in Wool

Second Napier Sale AVERAGE DECLINE OF TWOPENCE. MANY PASSINGS. The second wool sale of th© season opened at the Napier Municipal Theatre last night, when wool values declined at least twopence a pound on tho November sale. About 70 buyers occupied the benches representing Bradford, America, France, Germany, Italy, Japan, New Zealand mills, and scourers. None of the markets represented showed any particular desire for wool, nor did the growers seem anxious to meet the prices offering. In consequence a largo proportion of the early catalogues were passed in. For the greater part of the evening the sal© was dull and lifeless and tho bidding was most erratic. For a moment or two the dullness Would be relieved bv a battle for lots composed of particularly good wool. There was a lack of competition and the auctioneers’ appeals of “get to it gentlemen” were of little avail. The passing in of so many lots enabled the sale to proceed more quickly than it would have done otherwise and 10,000 bales out of a total catalogue of 24,842 were submitted last night. A DISAPPOINTING SELECTION. After th© splendid selection of wools last season the offering for this sale was a disappointing one. The quality was poor except m some cases and tne standard generally was not up to that of the November sale. Tho wool, as one buyer stated, was short, tender, and straggling and was quite the worst exhibition of Hawke’s Bay wool seen tor a very long time. This no doubt had a big effect on the prices obtained.

Although th© bulk of th© competition for the lots offered cam© from the Continent, Bradford buyers were more in evidence, th© prices apparently fitting in more with their limits. What super wools there were. American buyers sought for keenly, and the prices obtained should be acceptable to the growers. Pieces, bellies and locks caused keen competition from New ZeaLand mills and scourers and th© Continent and these as compared with fleece sold well. BIGGEST DECLINE IN SUPER. Tho greatest decline in prices was in 6uper wools which were down about 2Ld on the previous sale. Average and inferior crossbred showed a drop of over twpence while pieces, bellies, crutchings, and locks were from par to lid down. The top price realised was 171 d for two bales of Corriedale super AA, and for halfbred AA hoggett 17d was received, while a lot of 11 bales A hogget was sold at 17d. BROKERS’ REPORTS. The brokers’ report as under:— MURRAY, ROBERTS AND CO. LTD. We submitted a catalogue comprising 3.500 bales to a full bench of buyers. Although a drop in prices from those ruling in November was expected, tho difference in many cases was so great that brokers were compelled to pass a fair proportion of their catalogues. Competition was at times very dull, and it appeared as if buyers’ orders were very limited. Good bnght wools suitable for America met ready competition at a decline of about 2d per lb. on last sale. Medium and inferior lots were from 2d to 3d down according to what was suitable for requirements. Pieces and bellies showed a decline of Id to 2d and all scouring sorts a similar drop with the exception of crutchings and locks, these being practically on a par with last sale.

A few of our best prices were:— Motuotaria, half bred IGd super crossbred 15id ; Ist crossbred 153 d, Ist pieces ll|d; C and C. AE loja, AW I31d; Waimoana, B 13$d; Flying Spur, SD hogget 14Jd, ewe 14d, Ist pieces Hid; Matapiro, A A 12.3 d, necks I2?jd ; WD under bar AE 131 d, A hogt —; Glenoria, AA hogt. AIS 12;ld; Forest Home. A 121 d ; D cross C, AA 13d; WA conj., A hogt. 14|d, AE 133 d; CET, AE 12’d; AE. AW 13d; Strathmore, 44 14 Id, AE 13id ; Ti Kouka, A hogt. 15}d, AE 143 d; Marainanga, A hogt. 17d, B hogt. Ls|d. C hogt. 14}d, Ist pieces 12jd; Llakowhai, A 13d; WHM, AE 133 d; Kereru, AAE 12ld; FLAG, AA hogt. 14 Jd, B hogt. 13jd. C ewe 13 Ad ; A tea AA hogget 123 d AE 12id; ASC. AAE 16}d, AE 1 id; CBB, A J3d; Pakihi, AE 12id; ;WLN C hogt. 12d; JG over N, E 12Jd ; Ratanui, A 13d; SN, A hogt. 141 d; ETW, hogget 131 d; S over O, A 123 d, B 12Jd; NT, B 131 d, WTH over Waitio, AE 133 d; HT, B 13.jd; Win Star, A hogt. 14jd ; Onepu, A hogt. Ud. A ewe 15d; Tuhana. B ewe lid ; JJ, A 13]d.

HOADLEY, SON AND STEWART. Hoadley, Son and Stewart, Ltd., report that they submitted an average selection of wool. It was noticeable when thc sale commenced that growers were to face a drop in prices from last sale, and in consequence a fair proportion of our catalogue was passed in. We report a drop of up to 3d a lb on super wools, and medium sorts were down 2d. As compared to fleece wool, pieces and bellies sold well and were eagerly competed for by Continental houses, New Zealand mills and scourers.

N.Z. LOAN AND MERCANTILE CO. Thc New Zealand Loan and Dfercantilc Agency Co., Ltd., submitted a catalogue of 1450 bales. The condition of the wool was a good deal below the standard as compared with last year; the wet winter being unfavourable to good strong bulky growth. Owing to the drop in prices being greater than was anticipated, passings were fairly numerous, but a fair number of lots' were afterwards sold privately. The following were some of our best prices:— Hawke’s Bay wools.—R N, A A 12(d, A 12-'.d, B 103-1; T DIcN, E. 12}d; W over DfcK in thistle, AA 133 d; B 113 d, E 103 d; Y in circle, B lu.'.d; W W, B 12d; F over bar, E 103 d; B G, A IHd; T 8 over E A, C 12.1 d; DI O Y, A-AH 143 d, AH 133 d, A l<s]d, B 14id, C 12.fd, Ist pcs 93d; W. L. over Clive, A J 3d, C 11 Ad, Ist pcs 9d; J L, A 121 d, B 113 d, C lI.Id, Ist pcs lOd; Kite, ED lOd; HA 14Ad, A 153 d, B 13d, C 13Ad; pcs lOAd; Dlelton, E 123 d; C Bd. E 113 d; Evans, A 13.1 d; Livet, D 10}■’; Rockwood, WA 15-Ad; Waipuka, WA 14’d, A Crt, 9d; T M. conjoined, A IJAd, HB 13d, EB 13d, C il.Jd, D 113 d, pcs 10.}d; A F under bar, XB 11 Al; Lochncss, A 103 d; A U, C 12ld; H II conjoined, A 13d, B 12Ad; M and DI. B 13A1, C 11-ld; B G, C Hid. Gisborne Wools.—F B over N.Z.., A 103 d; A E 8. D 10Ad; J N L, B lljd; Kaitangata, EA 13d, HB 12’d; JAV .G, A 13d, pcs lOd; The Laurels, C ll}d, D lOAd; Ngaere, B lOAd; J H. C HAd; G C F. B 12d; X over bar, A 12fd; T J. H, HB 10Ad; Cheviot Hills, AAV 12Ad, D 10Ad; S S over Tokanui, HA 12Ad. T.’A 12’d; Repo, EA 113.1. E JO] d. BRISKER BIDDING TO-DAY. Thc sale was continued this morning, when prices were much the same as those last uight. Bidding was more brisk and Bradford was noticed to be (Continued on next column).

operating more freely. Romney E A realised up to 15jd, lambs A A 14Jd, lambs A I4jd, 133 d, 13Ad, 123 d, hugged A 13d, pieces 103 d, lOd, bellies line 83d/ B’d, crutchings Bd, Southdown lambs A 133 d. Several of thc leading buyers state that thc quality of the wool is far below the usual standard and that the prices being obtained are its full value. The general opinion is that it is too tender and is very short o£ grease. LONDON AUCTIONS. PRICES GENERALLY UNCHANGED London, Dec. 7. At tho wool sales there was a small offering of merinos and greasy crossbreds, and a good supply of slipes and scoureds. Prices generally were unchanged. The New Zealand clip <rWaiouru’ ’realised top price, 14'd, average 13jd. Bradford prices are itill sagging, hut there is rather better induirv.-*-(A. and N Z )