All Descriptions Show Decline

Manawatu Times, Volume 63, Issue 40, 17 February 1938, Page 7

All Descriptions Show Decline

Wellington Wool Sale Prices Sink

Per Press Association.

WELLINGTON, Last Night,

The forebodings of a decline in prices were realised at the third Wellington wool sale of the 1937-38 season to-day. Some brokers considered crossbreds were about on a par with the Dunedin sale rates of last week, but that halfbreds were definitely easier. Compared with prices realised at the second sale at Wellington on January 10, to-day’s prices were lower by a full ljd to 2d for crossbreds and 2d to 3d for halfbreds. Lambs’ wool, skirtings, pieces and crutchings also showed a decline.

The total offering catalogued for sale was 27,289 bales, but heavy eleventhhour withdrawals reduced this quantity considerably. The bulk of tnc offering was average to good topmaking crossbreds. There were few good halfbreds and Merinos and a small supply of lambs’ wool. There was a fully representative bench of buyers, of whom Bradford and the Continent and frepresentatives of local mills were most active. Some orders were filled for Canada and the United States, and one broker reported that some business was done also on Russian account. Franco competed strongly with local mills for lambs’ wool.

The sale was erratic at times, but generally bidding was vigorous within rigidly lower limits. Many growers had set reserves above the current market, rates with the result that passings were heavy and in some catalogues monotonously frequent. The offering was not up to the standard of the February sale at Wellington, and the quality generally was very disappointing. The limit originally fixed for this sale by the New Zealand wool committee was 30,000 bales, but due to the lower prices ruling this season and the uncertain state of the market, many growers withheld their wool, the total quantity catalogued being 27,289 bales. Heavy withdrawals reduced the quantity actually offered at auction to slightly more than 26,000 bales. Competition came mainly from Bradford and the Continent and representatives of New Zealand mills, the latter being keen buyers of lambs’ wool and other sorts suited to their requirements. Several brokers reported that business was done for Canada and United States, and it is stated that some orders were filled for Russia. As far as could be ascertained Japan was not in the market. If any buying was done on her account, it wai of small extent.

From the outset it was very plain that the prices were well below the level of the January sale at Wellington, Double figures were relatively infrequent, and the greater part of the crossbreds sold firm at Sd to 94d, there being many “runs” on ninepenny top bids. Generally it can bo said that most crossbreds were from 13d to 13d below the January level at Wellington. Had:breds, of which there was not a wiue selection, were fully 2u ,ovver, and lor average sorts the fall was as much as 3d. Hoggets’ wool was down Id to lid, and lambs’ wool and bellies and piedes were lower by from Id to lfd. The highest price for halfbreds was 13d, which was paid for a line of 15 bales of A ewes, brand MD over Bagshot, another lot of 19 bales of AA ewes in the same clip going at 123 d. The highest prices paid for super lines of all classes of crossbreds were from lOd to 113 d. Average grade of fine crossbreds made generally from 83d to 9|d, a few lines of 46/48’s touching lOd. Lambs’ wool sold at from lid to 143 d as against 113 d to 163 d last month, and medium to fine hoggets’ at from 93d to 103 d compared with 93d to 133 d last month. Due to the fact that many growers had set reserves above the ruling market rates, passings at auction were monotonously frequent and much heavier than at previous Wellington sales this season. Of a total of just over 26,000 bales put up for auction, 25 per cent, was passed in, some being disposed of later by private treaty.

Bidding Vigorous at Lower Limits

OFFICIAL RANGE OF PRICES

WELLINGTON, Last Night. The official range of prices at to-day’s Wellington wool sale was as follows, January’s prices being shown for com-

Brokers’ Reports FARMERS’ CO-OP. DISTRIBUTING CO. From Our Own Correspondent. WELLINGTON, Last Night. The Farmers’ Co-op. Distributing Co., Ltd., report: The third Wellington sale was held to-day, when we offered a catalogue of 3937 bales, comprising clips from the Wairarapa, Manawatu and Rangitikei districts. Cbmpared with the last two catalogues, our wools opened up very satisfactorily, and although a few clips were showing tenderness, the bulk of the offering was sound ana well grown. A feature of our sale was the competition displayed on well skirted wools, and these in most cases showed an apprbeiation of Id to 2d on all-in clips and wools carrying & few skirtings. Competition was most spirited from a full bench of buyers. The Continental buyers were operating freely, and the German representatives also took a fair percentage of wool suitable for their requirements. Bradford took a fair proportion of the offering. Lambs’ wool was in keen demand, and the highest prices of the day were paid for these. The following are some of our realisations: Ngaio/R, AAE lOd, AE 103 d, DBE 103 d, cots. 9Jd, A lbs. 133 d; Mangatapu, AE 93d, DBE 93d, cots. 83d, nks. and pcs. 83d, bis. 73d; Puketiri, AH lOd, BH 93d, AE 103 d, BE 10id, Ist pcs. 83d, bis. 73d, Ist lbs. 12d; Pipipi, AAE 103 d, AE lOd, BE 9id, nks. 103 d, Ist pcs. 9d, 2nd pcs. 73d, Ist lbs. 123 d, 2nd lbs. 103 d; MD/Bagshot, AAH lOd, AAE 123 d, AE 13d, XBD 10Jd, cots. 9d, nks. lOd, Ist pcs. B£d, bis. Bd, Ist lbs. 13d; BtT/Glentui, AE 123 d, BE 123 d, CE 103 d, CCE 10|d, nks. 93d; Triangle in circle/WCT, AH lOd, AE lid, BE 103 d, CE 123 d, pcs. BJd, A lbs. 133 d; Mellington, FE 113 d, BFE 93d, ME 103 d, BME 93d, cots. 9d, CE lid, A pcs. 83d, bis. 73d, Ist lbs. 133 d; Epworth, 3'BD E 113 d, fine E 103 d, med. E 103 d, BE 93d, pcs. 83d; AGM, line E 12d, BFE 12d, med. E 13d, A pcs. 83d, lbs. 133 d; Mamaku, AAFE 10$d, AFE 93d, BFE 93d, AME lid, BME lOd, cost. B|d, nks. 103 d, Ist pcs. 9d, bis. 73d, Ist pcs. 143 d, 2nd lbs. 10Ju; R/Link, fine H 103 d, fine E lid, ME 13d, cots. 9d, sktga. 83d, A lbs. 133 d, B lbs. 113 d. Further brokers’ reports appear on page 8.

parative purposes:— Jan. Feb. a. a. d. d. Merino, 64/70, 60/64— Extra Super — — SupCT .. .. — — Average .. 12} to 131 11 to 12 Inferior " to 12 9 to 101 Fine halfbred, 56/58 — Extra super — — Super .. .. 13} to 15} iu to' 13 Average .. 12 to 134 161 to n Inferior 9* to Hi 9 to 10 Medium halfbred, 50/56 — Extra super — — Super .. .. 12} to 15 101 to 11} Average .. 111 to 121 to 10} Inferior 10} to 11 8 to 91 Extra fine crossbred, 48/50— Super .. .. 11J to 15 10 to 11} Average .. 10} to llj 8} to 9} Inferior SI to 10 7} to S.v Fine crossbred 46/48— Super .. .. 111 to 15 10} to 11} Average .. 101 to 111 8} to 10 Inferior 84 to 101 7 to 8} Medium Crossbred, 44/46— Super .. i. 12 to 15 10 to Hi Average .. 101 to m Si to 9} Inferior 81 to 101 7} to 8! Coarse crossbred, 40/44 — Super .. .. 111 to 15 10 to 11} Average .. 101 to 111 81 to 9} Inferior 94 to 101 to 81 Lotv crossbred, 3(5/40— Super .. .. 12 to 121 — Average .. to 10i 8} to 10 Inferior — — Hoggets— 48/50 .. .. 91 to 131 9} to 10} Fine, 46/48 10 to 121 9} to 101 Mdm. 44/46 — — Cse., 40/44 — to 10} Low, 36/40 — — Lambs — Dwn., 50/56 — 11} to J.32 Fine, 44/50 Ill to 161 11 to 14A Mdm., 40/44 to 131 — Seedy and Inferior . Si to 12 61 to 10 Bellies and pieces— Merino: Low to medium . .. 8 to 10 6} to 9 Halfbred: Good to sup. SI to 12} 8| to 10 Low to medium . .. 71 to 9 6| to 81 Crossbred: "Good to sup. 81 to 11 7} to 9 Low to mediSm .. .. 6} to SJ 4 to 7} Crutchings— Medium to good . .. 8} to 11} 6J to 10 Inferior and seedy ., 5} to S} 4 to 7} Locks— Merino . .. to 6} H to «} Halfbred .. 41 to 61 4 to 51 Crossbred . 5} to 7} 4} to 5}