DUNEDIN WOOL SALE.

Manawatu Standard, Volume LV, Issue 87, 11 March 1935, Page 5

DUNEDIN WOOL SALE.

AN IMPROVED DEMAND.

KEENER THAN EXPECTED.

Per Press Association. DUNEDIN, March 9. The Dunedin Stock Agents and Wool Brokers’ Association reports that at the third wool sale, held on Saturday, the catalogues amounted to 24,662 bales, but this quantity was reduced before the auc-

tion by several hundred bales, the owners of which withdrew their clips from the sale. A large percentage of the catalogues offered comprised clips from the back country, these being chiefly of tho finer type of wool, and showing evidence of the severe conditions prevailing during the winter months. These wools, being later shorn, wore genoraly heavier in condition than the previous offerings at this centre. A number of clips also showed more seed than usual, this being due to the early season and dry summer which has been experienced. The quantity of super wools offering was not so noticeable as at the two previous sales held here. A fair proportion of crossbred wool was on offer, and the quality of these clips was up to the usual standard. Contrary to expectations, the demand at Saturday’s salo was keener than was anticipated early in tho week, and probably tho improved demand, especially from. France, can bo attributed to the more stabilised position of sterling. This probably accounts for the Continental section of buyers getting increased limits for the Dunedin sale, and their competition was largely responsible for the improved market. Throughout the sale there was strong competition from a full bench of buyers. The demand was well distributed, but the main competition came from Bradford and France. Orders were in evidence for Germany and Japan, but 4, these wero very limited.

There was a comparatively small proportion of wool suitable for local mills, consequently their competition was not so evident as at the February sale. However, they purchased any lots which suited their trade.

Pieces were keenly competed for by the Continent, and local fellmongers were also operating for scouring lots. Compared with the February ealo at Dunedin, Merinos showed the biggest decline. and these can be quoted a full penny lower. Super lots of halfbred were also easier by a penny, while medium to good haifbreds were selling at to |d loss. Crossbred wools almost maintained their value, and the decline here would be no more than id per lb. Compared with the last Dunedin sale, the rates for all grades of pieces were lower in sympathy with the fleece wool decline, the fleece wool decline being from |d to 3d per lb. The only improvement in values was noticeable in crossbred hoggets, which generally sold at higher prices than last sale. Most of the passings at tho sale were accounted for by growers’ high reserves, and represented approximately 7| per cent., but this would be reduced by clearances made after tho sale.

Top price realised at the sale was 14d per lb for six bales of super combing Merino; the wool was grown by Mr James Freeland, of Green Valley. A bin line of three bales of super fine halfbred also realised 13jd per lb. Following is the official range of prices compared with the February sale:— March, February,

THE NATIONAL CHEQUE

BIG DECLINE PROBABLE. A substantial decline, amounting to approximately £5,800.000, is forecast by the Government Statistician on the total value of the current season’s estimated wool production, compared with that for the year 1933-34.

Prices at the opening sales of this season showed a very marked decline as compared with the prices realised during the 1933-34 season; and, although a firming tendency was evident at later sales, it seems quite clear that the average price for the season will be about 40 per cent below last season’s prices, he states. The average price realised at the 16 sales held to the end of February was approximately per lb, as compared with an averago of 11.07 dat the 1933-34 sales. The total production of wool for 193 C-35 is estimated at approximately 292.000,-0001b in the grease, last season’s actual production being 5C0,500,0001b.

Assuming the average price for the whole of the current season to per lb (it will perhaps be a little higher than this), the total value of the current season’s estimated production will be in the neigh bourhood of £8,000,000 as compared with £13,800,000 last season; nevertheless. the value of the 1934-35 production will be materially in advance of the value for the seasons immediately preceding 1933-34, the value of production of wool at the averago prices realised at sales held during those seasons being—l93o 31, £6,400,000; 1931-32, £6,200,000; and 1932-33, £6,200.000. In making this computation no allowance has been made for held-over stocks from one season to another, the figure shown being the value of each season’s total production at the average prices realised for wool actually sold during the season.

1935. 1935. Merino— d d d d Extra super — to 151 — to 14 Super 11 to 13 91 to 111 Average 9 to 101 8 to 9 Inferior 8 to 81 7 to 73 Fine halfbred, 56-58 Extra super 13 to 153 — to 131Super 10g to 121 101 to 113 Average 9 to 101 9 to 10 Inferior 8 to 81 71 to Medium halfbred, 50-56 — Super 10 to 111 91 to 11 Average 81 to 91 8 to 9 Inferior 7 to 8 7 to 71Fine crossbred, 48-5( — Super 81 to 91 8 to 9 Average 7 to 8 63 to n •Inferior — to 6? 6 to 61 Crossbred. 46-48 — Super 7 to 8 7 to 8 Average 6 to 6 to 61 Inferior 5 to 51 5 to 51 Medium crossbred, 44-46 — Super 6 to 71 6 to 7 Average 5 to 53 5 to 53 Inferior 4 lo 41 4 to 41 Halfbred necks and piecesGood to super ... 81 to 101 8 to 9A Low to medium 5 -to 71 5 to 61 Crossbred necks and pieces Good to super 5 to 7 43 to 65 Low to medium 3 to 41 3 to 41 Halfbred bellies — Good to super . 61 to 6i to U Low to medium 4 to 4 4 to b Crossbred bellies — * Good to super .. 41 to 51 41 to 51 Low to medium 3 to 4 3 to 4 Cru tellings— Medium to goed 5 to 6 43 to 6 Inferior 21 to 4 21 to 4 Locks— Medium to good 3 to 4 3 to 4 Inferior 11 to 23 2 to 23