WELLIN TON WOOL SALE

Manawatu Standard, Volume LVII, Issue 69, 20 February 1937, Page 6

WELLIN TON WOOL SALE

BUYING WELL SPREAD SLIGHT RECEDING OF VALUES WELLINGTON, Feb. 20. The vagaries and uncertainties.of: the wool market were strongly in evidence at the third W ellington sale o tlie IJdO--37 season, which‘was held yesterday and which, in Us results presented a marked contrast to that ot last month. January sale prices were generally from a penny to 1>1 and in many cases 2d to 2h\ higher than at the first auc ion in December/ Yesterday, prices wont buck to about the December level, the decline in the case of halfbreds and Southdowns being even more pronounced. . The peak of the wool market was reached in, Jnnuaw, and since it has shown a definitely easier trend. Hus, added o the fact that the'wools offered yesterday were not up to the quality of those sold last moii«i, accounted for the decle Little exception could be taken to the prices paid yesteiday which were far in advance of, and in many cases double those of, a year ago. Buying was w ell spread and there was a good clearance passings at auction being under 10 per cent. -

WEAKER TENDENCY.

There was a large offering totalling 30,200 bales, comprising mainly topmaking crnsbreds with a proportion of average hallbreds, a few Merinos, nnd a good entry of lambs’ wool. There was a full bench of buyers, representing all sections of the trade. The weaker tendency in the market since January, particularly for Merinos, halfbreds, and fine crossbreds, was very apparent, and the sale was more than two-'chirde through before 20d was reached lor halfbreds. Only two lines reached that figure, one lot of five bales of A haifbred classed by Dalgety and Co., Ltd., selling at 20R1 and a line of seven bales of AA Southdown, Wellington Challenge brand in Wright, Stephenson’s catalogue making 20d. Compared with the January sa.le at AVellington, Merinos and halfbreds and other fine wools were from 2d to 2pl, and in some cases as much as 3d to 4d, lower. Medium crossbreds were from Id to lid lower, and coarse crossbreds from iid to Id down. Tjambs wool, which went mainly to New Zealand mills, was about 2d lower. Crutehings, bellies, and pieces sold well at slightly lower rates.

As was the case at the January sale, the coarser lines of clips sold at relatively higher prices than the finer grades. For example, A ewes made l(xl and 15 ewes in the same clip lopl. while in another clip A crossbred so d for 143 d, B grade for lod, and C grade for lGd. . . Cotted wool and crutehings made high prices, due to the strong demand, for the carpet industry. BUYING WELL SPREAD. Buying was widely spread, although Japan was not the same factor in tile market as in the December and early January safes. Bradford bought treelv and French and other Continental buyers were very active. Some good orders were filled for the United States and Canada, which took coarse and cotted wools and crutehings. New Zealand mills were strong buyers of lambs and other suitable 6orts. The majority of growers met tne lower market freely. Passings at auction were between 9 and 10 per cent, 27,469 bales being recorded as sold under the hammer and 2683 bales passed in. A fair quantity of the pasmgs was afterward sold privately. Although prices were well down on the January rates, they were far in excess of those ruling last season, and must be accounted as very satistactqiy. The following table compares the prices obtained for representative clips at yesterday’s sale and the I'ebruaiy sale of last year, the latter being in parentheses : —AV.B.M., Puruatanga : 21 bales A ewes, 15d (lOd); 10 bales B ewes. 1-Hd (84<1). J-Mangahuia Dannevirke: 7 bales A ewes, lokl (»A), 25 bales B ewes, Ufd (Bid); < bales first lambs, 173 d (123 d); 6 bales second lambs. 14-id (Del): 0 bales necks 14kl (8d); 13 bales pieces, 13.,a (7id); 4 bales bellies, 12Rl (M). Haumarire: 7 bales crossbred hogget, 17d (lid); 8 bales A ewes, 1/d (lUd); 11 bales B ewes 163 d (8-id); 9 bales crossbred, lod (7id)6 bales bellies and pieces, 123 d 03d). Avondale Marlborough: 7 bales comeback 18yd (14yd); 8 bales haifbred. l.id {IMU 4 bales three-quarterbred, lod (Sad).