WOOL MARKET

Manawatu Standard, Volume LI, Issue 42, 20 January 1931, Page 2

WOOL MARKET

VALUES DECLINE AT WANGANUI. Per Press Association. WANGANUI, Jan. 19. “At the second Wanganui wool salo of the season this evening only 50 per cent, of the offering of 10,000 bales was _ sold. Bidding was keen up to defined limits, Bradford being well in the. market for topmaking wools of all qualities. * Continental competition was not pronounced, and Franco was hardly in the market,' no doubt because the wools submitted were hardly up to the standard required for that trade.

. Values showed a further decline on recent sales, and comparing prices with those of the first Wanganui sale in November last, the depreciation can be quoted at jd on good fleece wool, Jd on ordinary and low wools, and id on bellies and pieces. Hopes that prices would improvo as the season progressed are far from being realised. The official range of prices was drawn up to" show only the range for averago wool, it' being realised' that the prices were so erratic that it was impossible to givo. an accurate range for top and low grade wools. The range was as follows: Hnlfbrcd: d ■ d 50-56 4i to 5i 48-50 4i to 43 Fine Crossbred: 46-48 ' 4 to .4i 44-46 3i to 3i • 40-44 3 to 3i Low crossbred ... —to 3 Seedy and inferior crossbred 13 to 24 Hoggets: 48-50 4i to 5 44-46 4i to 4J Lambs: 44-46 ... 3J to 44 Bellies, pieces and oddments 14 to 23

BROKERS’ REPORTS. Dalgety and Coy., Ltd., report:—Out of an allocation of 25,000 bales 11,000 were offered at yesterday’s sale, about 50 per cent, being sold. Since the opening in November the market has shown a general weakening tendency and since the last Wellington sale rates have receded from id and jd a lb. in comparison with the last sale hero. The depreciation oan bo quoted at id on good fleece wools, 3-4 d on ordinary and low wools and id on bellies and pieces. From the sales lately growers can get a fairly accurate idea of the present market value and must raeliso that it is useless to offer their wool at prohibitive reserves.

Bidding was keen up to definite limits. Bradford was well in the market for top-making wools of all qualities. Competition from the Continent wAis not pronounced and France was hardly in the market. The quality and condition of the wools offered were not attractive, seed and tenderness of staple being in evidence. The small offering of good wool met with fair competition from U.S.A. and Canada.

It appears that the 1930-31 clip will have a heavy Garry-over which will have a tendency to retard the restoration of confidence in the manufacturing end of the textile trade.

The following are some of the prices realised for wool from this district: Whareroa, 14 A owes, 3Jd; Pota, 4 wethers, 33d; Paranui/WB, 16 ewes, 33d; Ratanui/T9, 8 hoggets, 4d; PL and Co., 11 halfbred ewes B, sid; 2LH, 4 hoggets A, 44d; TLP, 6 crossbred A, 4jd; MCC/Waipuna, 5 wethers, 3id; Lismore, 5 fine crossbred hoggets, 43d, 7 hoggets B, 43d; Allandale, 5 hoggets AA, 43d; 7 wethers, 4d; Poto, 4 hoggets, 4jd, 4 ewes, 43d; PB/O, 6 ewes, 43d; PL and Co., 27 halfbred ewes A, 54d, 7 ewes A 4idj AHR/O, 5 ewes 34d; TL/P, 12 crossbred B 33d; Whareroa, 13 WAT 43d; Lismore, 7 hoggets A 53d, 33 A crossbred, 44d; Allendale, 15 hoggets A 44d. Wright, Stephenson and Coy., Ltd., in conjutcion with Abraham and Williams, Ltd., report:—Our second sale of the season opened before the usual attendance of buyers. We offered 2652 bales, drawn mostly from Taranaki, King Country and Rungitikei districts. The clips were not up to the standard of our usual January offerings, and comprised a fair quantity of stale and seedy wools. The competition was keen, but at decidedly reduced limits, and in comparison with our November sale prices wero down 3d to Id. Our passings wdre heavy as grow 7 ers were not disposed to meet the market at the lower levels. Bradford were the main buyers; the Continental buyers were not so keen as - usual. From a growers’ point of view, the sale was one of the most unsatisfactory that has been held'in Wanganui since the 1921 slump. Prices realised are as follow; —

Crossbred Hoggets.—Houherer, 4£d; Toa Toa, 4*d to sd; THGI/PUTA, 4d; Oamarunui, 4d to sid; Cluny, 4£d; TB/GCG, 4id; MH/A, 4£d; T, 4d; Rongomai, 4id to Sd; JIR/O, 4id-, CWP, 4*d; ARA, sid; Nganui, sid; SS/U, sid; TRS, Sid; HLY, sid; HUI, sid; Huia/AS, sid; SW, 4Jd; HB, 4Jd; KH/ARIA, 43d; RJM, 43d; TWM, 4|d; HCS, 4Jd; T.T., 43d; NV, 4j|d; X/WH, 4Jd. Crossbred. —Toa Toa, to sd; Oamaru,nui, owes, 4d; Cluny, owes, 4id; TOIME/ARIA, crossbred 4d; 'Mttkuku, 4id to 4£d; ; GM/Mangaiti, 4d; HM/A, 4d; Rongomai, 4id to sd; CWP, 4id; P, 4id; SM/R, 4id; SIG/P/NP, 4id; LMT/ARIA, 4id; GIH, 4id; Hetherby, 4id; Tablelands, 4|d; FDW, 4id; KR/O 4id; AJK, 4id; HJ/Tutuawa, 4id; LCL/K, 4id; C.AI, 4id; ES/T, 4id; STMOR/JM, 4id; WG/Tututawa, 4id; JEJ, 4id; GW, 4id; AGG/GG, 4d; KR/O, 4d; ARA, 4d; ALB, 4d; JH/ Tawa, 4d; Nui, 4d; WMC, 4d; SS/U, 4d; SAW/O, 4d; HJ/TaMawa, 4d; OA/0 sd; JCT/T, 4d; GW, 4d; RT/, 4d; CA, 4d. Levin and Coy., Ltd., report: The sale held last evening was one of the meet disappointing in the history of wool sales in Wanganui. The original catalogue was approximately 11,500 bales for all brokers, but withdrawals reduced this number to under 10,000 bales total offering. We submitted a catalogue of 1115 bales and only sold one half of this quantity in the auction room. Before sending out valuations we waited until after the Napier sale and were later faced with reports from Auckland advising a decline of id to id. Most of our clients gave us discretionary reserves, allowing us id to id under our valuations, so even at Auckland prices wo expected to sell a fair amount of wool, but we were not prepared for a further drop and thus were compelled to hold over quite 50 per cent, of our offering. There was a good attendance of buyers, but many of them were merely looking on, whilst those that were bidding were far from keen at extremely low figures. / Bright average wools of 44-46, 46-48, and 48-50 qualities in an extremely dull 6ale wero the only ones causing any animation in the bidding and these were selling at prices round about 4d to 4id for big sheep and 4Jd to 5d for hoggets, quite a penny down on the sale held here on Novembor 28. Dull average wools from 44’s to 48’s were mostly passed in at prices ranging from 2£d to 3Jd at anything from Id to IJd drop compared with November, whilst inferior wools of all qualities were securing bids of 2d to 2|d, being also "Id to lid lower. Lambs were fairly well competed for at the low basis of values, our top price being s£d, this being for a particularly bright line of 46-50’s. The New Zealand Loan and Mercantile Agency Coy., Ltd., report as follows: A total offering of approximately 11,000 bales was submitted, of which our quota comprised 2600 bides. There was a full and represntative bench of buyers, but at no time could competition be called animated. Nevertheless bidding was steady and well sustained- up to buyers’ limits, wh : ch unfortunately were about a farthing lower than those ruling at Auckland last Saturday for good wools. Shabby and seedy lots wertt more or less neglected, and bidding was most erratic, prices being sometimes a penny lower. Very little lambs’ wool was included in the offerings, and only well grown lots, clean and free from seed, attracted buyers. These sold at late rates, but shabby seedy - lots were more or less neglected, and to effect sales very low prices had to be accepted. Bellies, pieces and locks, clean and free from seed, sold at about Auckland rates, but heavy conditioned and seedy lots were most difficult to quit, and for these low prices had to be accepted. ■ The wool opened up in fair condition,

but unfortunately a lot of it contained seed, which militated against high prices. The allocation for yesterday’s sale Vwas 25,000 bales, but owing to the extremely low prices ruling a great many farmers are holding their clips in the hope of better values later on.

Our best price, for nine bales halfbred A branded Moawhango, on account of Mr G. W. Batley, was 63d,' while for seven bales halfbred B on account of the same owner 6d was paid. Five bales half * bred A on account of the Batley Estate realised 6jd, and for four bales WAA on account of the same estate 53d was paid. Soveral other lots realised 53d. For lambs’ wool our best price was 5d which was realised for ten bales branded Mt. Zion. Ten bales branded RTB/Ngatarua and five bales branded Preston Hill also brought sd.