BETTER PRICES FOR WOOL

Manawatu Standard, Volume LIII, Issue 50, 26 January 1933, Page 2

BETTER PRICES FOR WOOL

SALE AT CHRISTCHURCH. EXPECTATIONS AIORE THAN REALISED. Per Press Association. CHRISTCHURCH, Jan. 25. It was expected that the hardening that has been in progress this last month in fine wool values, and the advantage of the increased exchange, would be reflected in a much better sale to-day, when the second auction of the local series was held. The expectation was more than realised as values appreciated by an average of 2d per lb on fine wools, and from Id to 14d 011 crossbreds. It was much the best sale since the collapse of the market two years ago. The better demand generally for wool was responsible for about Id of the increase, and the exchange for a full lid. The crossbred, wools also improved —naturally not to the same extent on the lower scale of values —but apart from the factor of the exchange they were in definitely stronger request than at the first sale. The buying points appeared to be widely spread. The Continent, particularly Germany and Japan, secured most of the catalogue sold for abroad, but local mills were keenly in the market for all super lots and the prices were paid reminiscent to some extent of the pre-slump days. Competition was fierce at times, and much more elasticity was noticeable in buyers lin The offering comprised 25,000 bales, and was representative of the best clips in the province. A feature of the sale was the consistently keen demand for medium halfbred wool. In the first two or three hours there were only occasional lots that failed to make nearly 9d. A big quantity of wool sold at.tlrc first auction at" this figure, but to-day this class brought lid to llid. Another noticeable feature was tfie keen demand for the better pieces. These appreciated in value very markedly, a big proportion of the better sorts selling round about 9d. The bulk of them went to Continental buyers, but local fellmongers secured a share. Rejiresentatives of local mills set the pace as usual for super wools, and a big proportion of the dearest lots fell to them. German and French competition was marked for all grades, and it is understood that there was a good deal of buying on Japanese account.- Bradford competition was much- less marked. There were some exceptionally good clips of Corriedale offered, and this class topped the market in the second catalogue offered. Four bales of ewe (Garrymere over Rydal Downs) were sold to the representative of a local mill for 144 d. The previous clip offered (Rydal Downs') included an eight-bale lot of ewe which went to the same buyer at 14d. The Rvdal Downs fleece lots averaged from 12 kl to 14d.

The best price for lnflfbred was 13Jd. Fine pieces showed a striking advance, ranging from 2d to 2id. As evidence of the keen character of the sale, less than 200 bales were passed, a record at local auctions.

Following is the range of prices compared with the December sale:

WOOL SALES AT SYDNEY. SYDNEY, Jan. 25. At the Sydney -wool sales 10,465 bales were offered, o£ which 9975 bales were sold at auction and also 493 bales disposed of privately. There was keen general competition from all sections at closing sales of the week. Spinners’ fine quality wools were very firm at recent levels. All other descriptions sold well up to late rates. Greasy Merino fleece sold to 16 3-4 d.

RANGE OF PRICES. December. January. Merino— d d d d Super 9 to 94 104 to 114 Average 7 to 83 83 to io-4 Inferior 5 to bi 64 to 84 Corriedale — Extra super to 12 13 to 144 Super 9? to 104 114 to 12-4 Averages '/4 to 9 10 to 11 Inferior b to Vi 8 to 94 Fine halfbred — Extra super to 124 to 13| Super 91 to 103 11 to 12 Average 8 to 94 93 to 10| Inferior 6 to 74 8 to Medium halfbred — Extra super to 10| to 114 Super 83 to 94 10 to 103 Medium n to 84 9 to 93 Inferior bi to 7 7 to 8| Coarse halfbred— Super 63 to 7 8 to 9 Alodium oi to 6J 64 to 74 Inferior 4 to b 5 to 6 Thrce-quarterbred— Super Si to 64 64 to 73 Medium 4 to 5 5 to 6 Inferior 2 4 to 34 4 to 44 Medium crossbred — Super 4 to 5i 43 to 64 Medium 3i to 3! 4 to 44 Inferior 14 to 23 3 to 33 Pieces — Good 7 to 83 94 to 12 Medium Si to 63 74 to 83 Inferior 3 to b 33 to 7 Bellies — Good 5 to 7 7 to 84 Inferior to av’ngc 2 to 44 34 to 6 Crutchings— Medium to good . 23 to 4 33 to 43 Inferior ii to 2J to 3g Locks — Best 2 to 23 23 to 33 Inferior to medium 1 to 13 13- to 24