BETTER-THAN-EXPECTED WOOL PRICES AT CHRISTCHURCH

Northern Advocate, 13 December 1937, Page 2

BETTER-THAN-EXPECTED WOOL PRICES AT CHRISTCHURCH

CPer Press Association. — Copyright.] CHRISTCHURCH. This Day.

Values exceeded expectation at the first Christchurch wool sale today, when there was free and spirited competition* for all classes offered. The total entry was nearly 4000 bales fewer than the 28,000 bales allocated for, and this no doubt helped the demand.

A noticeable feature of the market was the comparatively small difference in values for spinning and weaving wool. The values for fine halfbreds were about 5d to 6d per lb loss than at the corresponding sale last year, with medium grades lower by 3d to 4d a lb. Crossbred wool was affected to a lesser degree, extra fine grades being down about 3£d to 4d and fine crossbreds to about the same extent.

Little Jap. Competition

New Zealand mills wore active, and bought a good proportion of the wool offering that met their requirements. There was little or no Japanese competition, the most spirit bidding coming from Continental buyers.

Germany was particularly active, and, with France, dominated the market, Bradford was not particularly prominent.

The bulk of the offering was small lots, and contained the usual big proportion of hogget wools, among which were some of the finest lines offered. Passings over the early stages of the sale were fairly frequent, buyers evidently placing too much reliance on the market, in one or two cases practically the whole clips were unsold.

Best Price

The best price during the morning was 20'd paid for four bales of extra super half bred ewe wool. The best price for Corriedale wool was 19id, this price being realised on seven bales of Rakahuri ewe. Other linos of ewe wool in this clip made 18Jd and 18,3 d. A line of four bales of super halfbred made 19kl. Following is the range of values: —

Merino super, to 17d; medium. 14d to inferior, 12d to 13id; halfbred extra super, to 2(Hd; super, 15d to 163 d: medium. 13id to 15d; inferior, Hid to 121 d; Corriedale extra super, to 19id; super. 16d to 18d; medium, 13id to 15d; inferior. lOd to 12£d; crossbred super, lid to 12id; medium. Old to lOid; inferior, 8d to 9d.