WOOL VALUES FIRM

Manawatu Standard, Volume LIX, Issue 97, 24 March 1939, Page 5

WOOL VALUES FIRM

FOURTH WELLINGTON SALE. EXCEPTIONALLY KEEN. At tho fourth Wellington wool sale of the 1938-39 season, held yesterday, recent price-levels were well maintained. Though it was reported that because of the recent European unrest a number of Continental buyers in the last few days had had their orders cut in half, it was noticeable that most of the wool went to Bradford and the Continent, as in previous sales. Japanese and American bidding was restrained. Coarse wools wero in strong demand. Prices were quite satisfactory for average and good wools. Few lots were passed over, mostly Merino and halfbred types. Prices for crossbred fleece wools were much the same as at the February sale; halfbred showed a slight advance. There was a large bench of buyers. Bidding was brisk throughout the sale and the six catalogues, comprising 24.323 hales, were all sold or passed over before the luncheon adjournment. MANAWATU OFFERINGS. In all 24,323 bales of wool, making up six brokers’ catalogues, were submitted to the buyers yesterday. Ihe wool came mostly from the \\ airarapa, Manawatu and ltangitikei districts. Little Hawke’s Bay wool was included, but there was a small proportion ol halfbred and Merino clips from Marlborough and Nelson. . Because of the bad weather in the spring and early summer, a good deal of discoloration was noticeable in the clips offered. This was also the case in previous sales this year, but did not unduly depreciate the prices realised. The sale started at 8 o’clock. I here was a full and comprenhensivo bench of buyers, France and Germany, Japan and America being represented as well as the United Kingdom and New Zealand and Australian firms. Many of the back-benchers, however, took little active part in the bidding, leaving competition to a number o main buyers. Bidding was for the most part fast and noisy, with strong competition for certain of the coarsei clips. ... Throughout the morning buying continued keen and well maintained, l'ew lots were passed over in the later cata-lo-mes, the total passings being 133» bales, or slightly less than five per cent, of the offering. This figure was approximately the same as at the February sale. , „ , The total quantity of wool offered fell short of the previous sale by only 1700 bales. There was no top grade Merino or fine halfbred wool placed before the buyers and little medium halfbred. Average Merino fetched 10Jd. to 11-Jd., as previously. Average medium halfbred, at lOid. to 11 showed a rise of id. Crossbred showed a similar rise. Coarse crossbred types fetched up to 131(1., a slight ' n* on previous sales. Hoggets and lambs brought much the same prices as bcf°rriees were regarded as satisfactory considering the quality of the wool’ offered and the uneasy condition of the overseas market.