Only 35 Per Cent Of Wool Sold At Auckland

Northern Advocate, 29 November 1937, Page 4

Only 35 Per Cent Of Wool Sold At Auckland

Growers Seemed Pleased. That Drop' Was Not Greater

l Special To “Northern Advocate”] AUCKLAND, This Day. \ T THE CONCLUSION OF THE FIRST NEW ZEALAND WOOL SALE OF THE 1937-38 SEASON. WHICH WAS HELD IN AUCKLAND ON SATURDAY, THE BROKERS ESTIMATED THAT VALUES DROPPED ABOUT 40 PER CENT., COMPARED WITH THOSE RULING AT THE FIRST SALES LAST YEAR.

A preliminary estimate cf the return is 10a per lb., and £l4 per bale, compared with 14.225 d per lb. and £2O/10/6 a bale at the opening sale last year, and 8.27 d per lb. and £l2/2/- a bale at the beginning of the 1935-36 season.

Only 30 to 35 per cent, of the total offering of 25,000 bales was sold at auction. Passings were exceptionally frequent, though a proportion of growers sold later by private treaty. On the basis of a clearance of 35 per cent, of the offering, the return to wcclgrowers is estimated at about £129,000, against £439.270 from the opening sale last year, when an almost total clearance was made.

Why Drop Was Not Lowei. < The general feeling seems to he that, although prices dropped so steeply compared, with the rates of a year before, most growers are pleasantly surprised that the drop was not greater. The activity of Continental buyers, representing principally French and Belgian' interests, and the demand of local mills for super halfbred lines, saved the day. There M as no Japanese competition', unlike the first sale of last year, when these buyers were largely responsible for the phenomenal prices then ruling. The top price offered on Saturday was 17d for several lots of fine halfbred wool, which was passed at this figure.

Lack of Japanese competition, indeed, of any serious competition at all. was soon apparent. The Continental representatives dominated the bidding, and with Japan and the United States uninterested, and Bradford offering prices, even below expectations, they had matters very much their own way.

French, Belgian Competition

French and Belgian buyers were to the front throughout, and it was due solely to their activities, even though it was within strict limits, that the quantity sold under the hammer was ' not a great deal smaller. Hopes that the recent trade agreement with Germany might result in some substantial orders, were not fulfilled. Reasons for the unwillingness of Bradford buyers to operate outside strict limits wore suggested by one authority.

He said the bulk of growers had fixed their reserves at London parity, less the usual margin of a halfpenny, and that since then London values had fallen, Bradford representatives, apparently expecting a further decline, were endeavouring to keep the price down.

A section of the buyers, at least, considered the reserves disproportionately 'high. Caustic comment was forthcoming when bids of 16d were followed by the auctioneer’s announcement that the lots! had been passed. A climax was reached when the top price, an offer of 17d for 11 bales of fine halfbred ewe wool, from Waiheke Island, was announced as another “pass.” Bidding Consistent, “Would he take 20d all round?” a buyer shouted, causing general amusement. Although prices were not high, the bidding was consistent, and fairly keen. The sale started at 9 a.m., and at no stage did it lag, the total of 25,000 bales having been offered by 4 o’clock. The first SGI lots were disposed of in 55 minutes, fast time in view of the market. Buyers commented favourably on the quality ami style of the wool. They agreed that generally It was superior to the offering at the first sale last year, and that it was no fault of the clip that prices had declined. 1 Hogget wools were shorter and finer than usual, being thus particularly suitable for Continental requirements, but did not command the usual premium. The sale proved better than brokers had at first anticipated, due! to the operations of the Continental buyers. Range of Prices. The range of prices was as follows, November, 1936, prices being shown for comparison.— 1 I *

November, November, 1937 1936. d. d. d. d. Southdown A ; 11 to 12 19.1 to 201 Southdown B . 9} to 104 164 to 10 Halfbred, 56 to 58: Extra super . 15 to 16 — S Liner — to 15 231 to 26 Average ... 13 to 144 19 to 23 Halfbred, 50 to 56: Super .... 13 to 14 .17 1.0 184 Average HI to 124 15 to 16? Inferior 10 to 11 — Extra fine crossbred, 48 to 50: Super 11 to 12 161 to 18 . .Average 91 to 10 141 to 153 Inferior 8 to 91 — Medium crossbred, 44 to 46; Super .... 10 to 104 16 to 17 Average 9 to 9-3 134 to 151 Inferior , , 8 to 9 — Coarse crossbred, 40 to 44: Super .... 10 to 104 15 to 16 Average ... 9;{ to 9? 134 to 14? Inferior 81 to 9 — Strong crossbred, 36 to 40: Super .... .10 to 104 14 to 15 Average 91 to 9 1 1 12:, ! to 13? Inferior 84 to 9 Hoggets: 52—56 11 to H4 — 50—56 10 to 11 174 to 204 48—50 94 to 104 154 to 17 46—48 91 to 104 14 to 16 Lambs: Down crojsbred .... — 12 to 134 Fine — 14 to 151 Medium ... — 12.3 to 13? Seedy and inferior — G to 10

Bellies and Pieces; Crossbred: Good to super 7 ’ to 81 11 to 124 Low to medium .. 6 to 74 9 to 104 Halfbred ... 8 to 94 15 to 17 Crutchings: Medium to good .... 7 to 9 7 to 121 Inferior to seedy 5 to 64 94 to 11 Locks: Crossbred 44 to 5 : i 6 to 81