WOOL SALES

Northern Advocate, 9 December 1931, Page 6

WOOL SALES

WELLINGTON OFFERING ■ VALUES STILL LOW. FINER SORTS WANTED. # BUYERS’ LIMITS RIGID.

(Per Press Association.—Copyright.) WELLINGTON, This Day. The first Wellington wool sale of the season, Held yesterday, wms a disappointment to those who had expected anything better in the way of prices or clearances than was the case at Auckland or Napier. A total of 23,270 bales had been catalogued, but heavy eleventh-hour withdrawals reduced the offering to approximately 21,200 bales, of which about 13,000 were sold. There was a full bench ‘of buyers, representing all sections of the trade, and a large gallery of ; Onlookers, including many farmers, •who were frankly disappointed with [the sale. Until the sale was fully one-third through the biddings was spasmodic and the. passings were monotonously ( frequent. It was very noticeable that * finer wools tvere well sought with keen, bidding, especially from the Continental,. America and local mills, but inferior sorts and shabby and discoloured field-over wools were neglected. Later tfie sale improved vis- ' ibly, competition being we|l spread. , [ Bradford took most of the coarser wools sold, while France and Gertoany were keen buyers of pieces and -crutchings. Pine wools were in short supply, and keen competition by local mills and probably Australia helped the market considerably. In these lines it was noted that buyers were .Were - very discriminating in their Old wools were consistently rejected in- favour of new and brighter sorts. ' [Better Than Expected. -V Interviewed after the sale, Mr A. E.--Mabin, chairman of the New Zealand Wool Brokers’ Association, said that in view of what had ’happene.dat 'Auckland and Napier yesterday’s sale wai better than had been expected by thetrade. A good quantity of - halfbred wool had - been offered and-it was ’Apparent 1 that Dominion 1 mills had been on short supplies, for in strong competition with Yorkshire, French and' 1 German buyers they had pushed prices .up above the rates of last December's v sale in Wellington to the of to 24d a lb. A considerable, amount had been sold at from fd to 92d. Unfortunately, there was a very Small supply of super-crossbreds and these, were taken keenly by America and Japan, and possibly also by Australia. They sold at full rates, some- , thing like to Id better than a year - ago. ‘ Hoggett wools were in strong demand, best sorts being Id better, and lower counts a farthing to a half-penny better than last December’s rates. Bellies, pieces and crutchings were bought by France and Germany at comparatively good prices.' What little merino offered was snapped up by Dominion mills at an average of ‘ Regarding old wools, Mr Mabin remarked that some showed no depreciation in quality, and sold at rates almost equal to those obtained for new clips. • Other lots, however, looked .very unattractive, and buyers naturally were not taking them at anything like the rates for new wools, and they sold at a depreciation of Id to sometimes more. The sooner bid wools were disposed of the sooner would crossbreds come into their own again. There might be now roughly 100,000 odd bales of old wools still in New Zealand, concluded Mr Mabin. Range of Prices. The range of prices at yesterday’s sale, compared with those at the sale on April 17 of this year, is as follows: Merino—- i

Bellies and Pieces — Halfbrerl — Good to Sijper 5 to 0!|Low to Medium 3 to 44 Crossbred — Good to Super 44 to (54 4 to 54 Low to Medium 2| to 4j 2 to 34 Crutchings— Medium to Good 4 to 5{ 3i to 43 Locks — Crossbred .. 2 to 23 T to 2 OLD WOOL A BURDEN. DISCOLOURED NOT WANTED. (Special to ''Northern Advocate.’’) WELLINGTON, Tins Day. The burden of the carry-over influence of old wools ou current, sales is stressed by Dalgety and Co, in their report, on yesterday’s auction. They state that the majority of passed lots comprised old off-colofir wool, the general range of bidding on such being 3d to 3Ad per pound. ‘‘lt is quite evident,” the linn stated, “that at the moment those buyers are confining their purchases to new clip, although quite good prices were at times paid for old wools which had not gone off colour, Home and continental buyers no doubt recognised that they can secure full supplies of old crossbreds practically at their doors in London, and remembering that .180,000 bales were held over in New Zealand at .Tune 30, this qnau lity, combined with the stocks provi. ously held in London, makes the carry-over a heavy one. ‘‘lf business in the textile mann. faetnring centres of the world were brisk, with the machinery fully occupied, the carry-over wqjjid not cause much, concern, but with the trade in a languishing condition, devoid of stability and confidence, the position is altered greatly, and naturally makes buyers cautious and forces them to operate on a hand-to-mouth basis. ‘•'There is uo getting away from the fact that the position in regard to old, stale wools, considering present market conditions, is serious, if stocks arc to be cleared it seems as if the Loudon niatket will have to ‘be used as a selling centre. ” LONDON .SERIES. (Received 12.3(1 p.m.) LONDON, December S. At the wool, sales, 10,104 bales wore offered, including 2804 New Zealand. Approximately (5125 were sold. There was good general competition at steady rates. New Zealand halfbred combing, top price 13|d, average 13jd: halfbred, greasy merino, “Acland, ” lid and lOfd.

* April 17 Doc. 8 d. d. Average .... 71,to 91 Inferior . Corriedalo — 6 to 7 Average 75 to Si 71 to S3 Inferior -.56-58— 43 to 63 Average — 7 to 73 8 to 01 , Inferior .... .Medium Halfbreds- ’ SO-56-t- • 3* to 7 6 to 71 Super to 10 — . Average 6? to S3 7 to SI , Inferior .... n to 01 41 to 61 .Extra Fine Crossbred-,48-50— Super 8 to 0 63 to 71 . Average 61 to 73 5:1 to 61 Inferior "Fine Crossbreds — 46-48 — -U to 0} 53 to 5 ' Super 7? to 8} 6] to 7 Average .... 61 to 71 5 j to 6 Inferior .... 44 to 6 3 to 43 Medium Crossbred— 44-46— Super 8 to 0 t> to 61 Average .... 0 to 73 4J to 51 Inferior .... 'Coarse Crossbred — 40-44— 41 to 53 21 to 4.J Super 8 tO 9;1 51, to 6 Average 55 to 7 4 to 5 Inferior Low Crossbred— •36-40— 4$ to 51 2 to 33 Average .... 53 to 71 4 to 5 ' Inferior Hoggets— 4 to 5 2 to 33 45-50 7 to 01 of to 8:{ Fine, 46-48 63 to S3 4i to 74 Medium, 44-46 61 to S 31 to 51 Coarse, 40-44 ., 51 to 71 31 to 5