AUCKLAND WOOL SALE

Kaikoura Star, Volume LVI, Issue 95, 3 December 1936, Page 4

AUCKLAND WOOL SALE

BIG ADVANCE IN PRICES AUCKLAND, November 29. A sensational advance in prices occurred when the first wool sale for the 1936-37 season in New Zealand was held in Auckland on Saturday. The rates rose about GO per cent, in comparison with the average values of last season. There was practically a complete clearance, of the 21,590 bales offered for sale, and with an estimated average return of about £2O a bale there is every indication that wool is returning to its former proud position as New Zealand’s “golden fleece.” Not since the 1928-29 season, when the average price of 14.9 d per lb was obtained over the year, has there been such an amazing sale in Auckland. Right at the start of the auction prices rose with a jump to the utter amazement even of the majority of buyers, and the prices were fully maintained throughout the day. Japanese Domination The dominating factor in the sale was intense competition from Japanese buyers. They stormed the market ami, operating apparently almost without limit, set a pace which was far too hot for Bradford. The official report on the sale estimated that Japan took half the catalogued quantity, but individual brokers were inclined to think that this was a conservative estimate. On an estimated average of 14d per

lb and £2O a bale, the return to wool growers in Auckland province from rhe opening sale should be in excess of

£430,000, compared with £240,154 obtained at the opening sale last year, when the average prices were <8.27d per lb and £l2 2/- a bale. If the opening rates are maintained throughout the season, and if the total clip for New Zealand is taken at 500,000 bales, the Dominion’s wool cheque for the season should easily bear comparison with that of 1925-2 J, when the total value was £12,217,000. Growers attended Saturday’s sale in large numbers, and expressions on their faces left no doubt as to their reactions at finding the highest valuations placed on their 'clips exceeded by a considerable margin. The Official Report The Auckland Wool brokers ’ Association reports as follows: There was a full bench of buyers, and while the bidding was somewhat erratic, it was spirited at times, though confined to a certain section of the trade. There was exceptionally strong competition from Japan for fleecewools, but Japanese buyers took all lines suitable for their requirements, amounting to about half the catalogued quantity. The Continent secured the bulk of oddments, while local mills competed keenly for super halfbred lines, most of which fell to their bids. The best price realised was 26d, for a line of seven bales of super halfbred, and while all grades show a substantial increase on last season’s rates the extreme prices paid were confined to two buyers. What was practically a total clearance was effected under th«* hammer, only one or two isolated lots being passed in some catalogues. Range of Values The range of prices was as follows, the November, 1935, prices being shown for the purposes of comparison, the November, 1936, prices being shown first:

Nov., .1936 Nov., 1935 Southdown A . 19.|- Io 20] 134 to !4| Southdown B . Ha If bred, 56-58 164 to 19 11 A to Super _! to *’6 14} to 15} Aver, to good 19 to .124 to 134 Inferior Halfbred, 50-56 17 to 184 94 to 1 1 Super 17 to 184 12! to .14 Avera ire 1 •> to 16} 9} to ]<>A Inferior . . 14 to Extra prime crossbred, 14} 48-5C 84 to 94 Super 165 to 18 .10] to 11; Average 15 to 16] 8} to <) > Inferior . . Fino crossbred, 13 J to 46-48’s-14} /A to 84 Super 16 to .17 9 to 10 Average 14.'. to 15} 7} to 8} j Inferior Medium crossbr 13 to 14] •d. 44-46’s— 64 to 74 Super 16 to 17 8 to 84 Average . . 134 to .15] 71 to 7 } Inferior Coarse, crossb rec 12 to . 40-44 13] 6 to 6} Super 15 to 16 / } to 8 4 Average 13 A to 1-4 } 7 to 7 4 Inferior Strong crossbrec 12 to . 36-40 131 o} to 6} Super 14 to 15 7} to S 4 Average 12} to .13} 7 to 7.1. Inferior 12 to .12’ 5} to (; Hoggets— 56-58’s 21 to 24 14} to 15 50-56 ’s 174 to 204 .1.24 to 131 48-50’s I.J.i 1 o 17 .10 to 12 46-4S’s 14" to .16 84 to 9 A 44-46’s .14 to 15 7:1 to 8 Lambs— Down c.bred 12 to 13 5 8 to 95 Fine 14 to 1 *I 75 to s 1 Medium . . 12} to 13 * a} to 7 Bellies and Pioc (> to 10 44 to 6 Crossbred: Good to super 11 to 124 64 to i Low to med. 9 to 104 4£ to (! Halfbred: lo to ] 7 8 4 to p i < hutch ings— Med. to good 1 1 to 12} to 7 i Inf. to seedv 9.. to J I ■’ i Locks— Crossbred 6 to s ‘ ’ > t < 1 4}