THE WOOL MARKET

Manawatu Standard, Volume LIV, Issue 118, 18 April 1934, Page 5

THE WOOL MARKET

FINAL SALE. AT WANGANUI. FINE WOOLS IN DEMAND. Per Press Association. WANGANUI, April 17. Wools of 48 count and over met with a ready sale at Wanganui today, values tor that type being firm on those realised at Dunedin, and in some cases slightly in advance. Coarser wools deefiued in value. 'The sale as a whole, which was the last of the season so far as this centre is concerned, indicated that there is a definite demand for wool of fine quality, while there appears to be a tendency to neglect coarser types. A full bench of buyers operated, and approximately 90 per cent, of the clips offered were sold. Continental operators appeared to dominate the market in respect to better quality wools, and were able to participate at higher levels than Bradiord. It was noticeable on several occasions that when competitive Bradford interests had completed bidding Continental buyers came into the market and bought at prices which put an end to competition from other sources. There was not the same keenness evident when wools of a coarse type came under the hammer. Continental interests, because of having to'bid higher for types of wool that 1 suited them, were responsible tor forcing the values of fine wools up. Bradford apparently was quite content to take those wools suitable for the Continental trade 1 , but at definitely limited prices. Toward the close the sale dragged considerably, and it was evident that buyers were operating under limits, and once those limits were reached competition eased. Growers displayed an uncertain attitude when the sale opened, but their stand at the close was definitely one of willingness to meet the market. Several passed-in clips were sold privately after the sale. The official range, of prices is as follows : d. d.

BROKERS’ REPORTS. New Zealand Farmers’ Co-operative Distributing Co., Ltd. Compaied with February, tve consider the maiket for wools, 48’s quality and over, to be from id to 2d higher; medium and coarse crossbred, from par to id higher; bellies and pieces, crutchings, lambs’ wool and dead, on a par with last sale; Southdown was lower than February by from 2d to 3d pei lb. Reviewing the season we are of opinion that there has been a satisfactory clearance of both new and old season s wool at prices showing a better return to growers than was expected prior to the season. With stocks or wool in stores and growers’ sheds substantially reduced, there should be more confidence in the future. The following are some of our realisations: Rangitahi, fine C 13R1 crossbred A 7d, line .crossbred B 7id, crossbred B 6id; Te Huia, crossbred, 6id; Onepu, EA 7Jd, Line, cross 6Jd, EB 6id; Kokopa, fine HA 12fd, HA threequarter bred 13fd; Wahroonga, EA Bid; Shirley, fine crossbred, E 13d; VH/W, medium crossbred, 7id; R, lambs, llid; various, crossbred, GJd; Birnam, fine crossbred, A 10i, medium crossbred A 9Jd, crossbred A 7id, bellies 6id; Kokapa, E Bd, W Bid; various threequarter bred 13id, fine crossbred 10id, H lOd, crossbred 7d; T.T.8., Down 15id, lambs, 15id; Hautu, scd. lambs, 14|d; JB/Uplands, crossbred H 7d, crutchings 4id; various, Down, 15a; Co-op., Ist Down 17d, 2nd Down 14d, 3rd Down llid, Ist’Down crossbred 15d, 2nd Down crossbred 14d, fine H 12-jd, medium H Bid, fine crossbred 10Jd, fine S.S lid, inedium crossbred Bd, medium crossbred B Bid, medium crossbred S.S. 7|d, crossbred 7id, Line. 6d, crossbred S.S. 6d, Ist Cots 6jd, 2nd Cots sid, crossbred sdy. 4|d, fine crossbred D Bid, fine S.B.D. 7d, crossbred D 6id, crossbred D 6id, Ist necks 10Jd, bellies and pieces S.S. 7d, 2nd pieces and locks 4|d, Ist bellies and pieces 7d>, 2nd bellies and pieces 6d, bellies and-pieces sdy, s|d, Ist dead 7id, 2nd dead Gfd, Down pieces 12id, black GJd, Ist lambs lljd, lambs 10id, lambs llid, 2nd lambs 9id, lambs sdy. 6d, lambs sdy sd, crutchings sd, crutchings sd, 3rd dead 4d; various, fine crossbred 9d, fine crossbred B B£d crossbred 6Jd, crossbred B 6d, fine crossbred 9d, crossbred A BJd; J.F.M., EA Bid; Y.2.E., crossbred 6id; D.D E BJd; 18/P, medium crossbred 7jd, crossbred 6jd, crossbred B 6id, Line. A sd; various, Down, cross lambs 15Jd; Down cross lambs 12|d, Down cross lambs, 12jjd, lambs A 14Jd, lambs A 12/[d, lambs A 113 d, lambs lOd, 2nd lambs 9id, lambs lOd, lambs Down cross sdy. Bd, lambs S.S. 7id, lambs sdy sid, lambs A lid, crossbred A 9d, crossbred 7id, H 9id, crossbred 7id, crossbred 6Jd, crossbred 6Jd, fine crossbred B 10Jd, crossbred sj[d, fine crossbred B lOifd, crossbred B Bd, crossbred D 6id; Co-op. medium crossbred C 9}d ; crutchings 5-id, pieces sdy.. 4d; Dunvegan, E 7d. Levin and Co., Limited—The bulk of the wool .offered was largely backcountry wool and oddments of clips which had been shut out of previous sales, besides a certain amount of wool held over from previous seasons. AVe had, however, several attractive parcels of wool, including wool clased in •our store, both under owners’ own brands and repacked under our brand. German buyers were prominent, and were bidding freely for all grades of wool, although as usual the bulk of the purchases will go to Bradford. Since the last Wanganui sale the market has varied very slightly up and down at subsequent sales held in other selling centres throughout the Dominion, and yesterday’s prices as regards fleece wool wex-e in most instances very much on a par with the prices ruling at Wanganui in February, though some of the bidding was decidedly erratic. Some of our fleece wool passed in in February and reoffered yesterday made up to lid higher, while other lots were passed again at as much as Id to Hd lower.

Crossbred is quoted as compared with our Wanganui February sale as follows:—48/50, average ad higher; 46/48, average par to id higher, inferior id down; 44/46, average par, inferior |d down ■ 40/44, average par, inferior par to id down. Lambs’ wool was very erratic and sold at prices as much as 3d lower than February, Southdown also suffered equally, while all scouring wools, bellies, pieces, crutchings and locks, compared with February, were easier by anything from id to Id. Dalgety and Coy., Ltd. —Our quota was 1600 bales, of which we sold 88 per cent. As is usual at a final sale, the offering was generally of poor to medium quality, many wools being stale, seedy, and off in colour. Taking quality and condition into consideration, prices as compared with last Wellington March sale show good to fair style 48/50’s and above fii : y par to id dearer; medium fine, 4b/48, slightly in buyers’ favour; 46’s and below, except when light and bright and of good style, id to Jd lower. Lambs’ wool was sought after, and free lines of 46/50 showed a slight rise, with Southdown cross id dearer. Stalo off-colour wools of 46’s and-below were at times difficult to dispose of at any reasonable figure, and it is evident that at present such wools are not required. The Continent, both France and Germany, were strong buyers, the former being especially active on free bellies and pieces, also on fine fleece. Fair but rather spasmodic support came from English buyers, although they lifted a fair weight of the ordinary top-mak-ing sorts. The total value of wool sold in New Zealand this season will be close on £10,000,000 as against about £4,500,000 for 1932-33, which is a much needed recovery. Local scourers were in the market for wools suitable for their trade, and a trace of speculative buying was noticeable. It is satisfactory to be able to report a heavy clearance at auction, the passings being small as compared with last Wanganui sale, when lofty reserves were numerous. The carryover in the Dominion this year will bo of small compass, and will not in any way cause concern to the buying trade, as has been the case during the past three years. Growers are to be congratulated on meeting the market, especially with old stocks, and so making a clearance 'of the- stale, off-colour wools which have been a drag on the market for some time past. In the South Island the carry-over is practically nil. As usual, we had keen competition for binned wools, buyers bidding with confidence on these wellgraded lots. Some of our outstanding sales were: —DH, 4/H 12d; Mahoe, 5/H 13|d; Opeke/H. 4/HAA 13fd, 7/HA HHd; 4/HAA 14{d; Heart Evebrow. 4/AA 12d, 7/EA lOd; 4/FXB 10id. 6/pcs. A 7Jd, 8/bellies 6}d; HRP, 9/HA HHd, 11/WA 9;id; JNB, 5/H 9fd; 6/W 81 d; Tataramoa., 4/HA 14d; 10/FXB lOJcl; 5/lbs. A i2|d, 4/pcs. 7d; DC/WN, 5/3BD 15kl, 14/FXB 10id, 9/Lambs lljd; 11/bellies 6d; Various. 6/SD lbs. 12d; 5/Nks. and pcs. H9F ctgs. A 6id, SD Lbs. 15Jd. FINAL WELLINGTON SALE. NEXT MONDAY’S OFFERING. The final wool sale of the 1933-34 season will be held at Wellington next Monday, starting in the Town Hall at 9 a.m. A total offering of 15,450 bales has been catalogued for the sale.

Fine lialfbred, 58, 56-58, 56— Average 15 to 17 Inferior ■_ H to 13J Medium halfbred, 50-56, ■ 15 Average 13 to Inferior 10 to 12 Extra fine crossbred, 48-50 — 13 Average 11 to Inferior 7 to 91 Fine crossbred, 46-48— 12 91 Super 161 Average 3 to to Inferior 6 to 7 Medium crossbred, 44-46 — Average 7^ Inferior 5j to 81 to 61 Coarse crossbred, 40-44— to Average . ■ • 6 7 51 Interior to Hoggets — ' to 15 Fine, 48-50 14 Medium, 46-48 10 to 13 Lambs — to 141 Down, 50-56 HI Fine, 46-50 H to 13! Seedy and inferior, all to grades 9 Bellies and Pieces — Crossbred: Good to super 6 3 to ru Low to medium • ••• 4 to t Crutchings— r to Medium to good ... o o Inferior and seedy ... to 4* Locks— to Crossbred ••• 5