WOOL PRICES OF AT CHRISTCHURCH

Northern Advocate, 14 December 1937, Page 11

WOOL PRICES OF AT CHRISTCHURCH

[Per Press Association. Copyright. J

CHRISTCHURCH, This Day,

Animated and steady buying mainly from the Continent and local mills, made the first Christchurch sale or the season, held yesterday, the best oi the New Zealand 1937-38 series so far. Values for halfbreds were well above expectations and there was a rise from id to just under Id on Wellington crossbred rates.

Bidding was free throughout the day, and the tone of the sale was excellent.

The original allocation was 28,000 bales, but withdrawals earlier and a few more just before the sale began reduced the offering to a little under 24,000 bales.

Growers showed every willingness to meet the market and passings were normal. About 95 per cent, of the offering was disposed of by auction. Acceptable Returns. Prices were, of course, much below the high values of the first sale of las,, year, when the Japanese, having refused to buy in Australia, were forced to get their suppleis at any price and in competition among themselves sent values rocketing. The returns from yesterday’s sale, will, however, be most acceptable to growers. A most pleasing feature of the sale was that, while there were no

unduly high prices paid, the aver-

age was excellent and every type of wool met with a good demand.

The top price was 20icl lor four bales of halfbred ewe, sold on behan of Mr J. F. Scott, Mt. Pleasant. As soon as the sale opened, a firmer tone and brisker demand than were apparent at the North Island sales became established and there was no change as the sale progressed. Strong - Demand From Continent.

Continental buyers were taking all types of fleece freely, and French operators bought steadily all piece wools offered, some of the shabbier sorts meeting a particularly good inquiry. Germany was buying threequarterbred determinedly, as well as taking a good share in the finer wools. Bradford was mainly quiet, but one firm was operating extensively enough to send the price of crossbreds up by from to just under Id on Wellington rates.

Local mills bought freely and steadily and took a considerably larger proportion of the catalogue than usual. On showy wools, the competition among local mills would of-

ten carry the price uj> a further

2d or 3d after overseas operators had ceased bidding.

The Christchurch December sale is the first of the New Zealand series at which halfbreds are offered in large enough quantities to establish a market and it is, therefore, impossible to give a comparison with earlier sales. Brokers’ Valuations Conservative.

Prices were, however, very much better than had been expected, and brokers’ valuations were found to be extremely conservative, sales frequently being made at as high as 4d above them.

As usual, a largo quantity of hogget wool was offered. It was in excellent shape, but was not quite as good as the outstandingly good showing at the December sale last year. Tito ewe wool offered was very good, light in condition, soft handling and free from fault, A certain amount of yolk stain showed in some clips, but not to a serious extent. There was a very full bench of buyers. Range of Prices. The official range of prices is as follows: Merino, 64-70, 60-64: Super, 15d to 17id; average, 13d to 14:}; inferior, lOid to 12|-d. Corriedale: Extra super, to I9kl: super, 14|d to 18d; average, 13d to 15d; inferior, lid to 12Jd. Fine halfbred, 58-56, 58-56: Extra super, to 20£d; super, 15?}d to 17d;

average, J3Ad to 15id; inferior, 12d to 13d.

Extra tine crossbred, 48-50: Super, 123 d to 13-id; average, lid to 124 d; inferior, 9d to 10|d.

Fine crossbred: Super, 113 d to 13d; average, 'lOJd to ll|d; inferior, 9d to lOd.

Medium crossbred, 44-46: Super, lid to Hid; average, 9:;d to 10i;d; inferior, 8d to Old.

Bellies and pieces: Merino, good to super, 11.5 d to 14d; low to medium, 8d to lid; half bred bellies, good to super, 10id to 12d; low to medium, 8 : ;d to lOd; halfbred pieces, good to super, 12d to 154 d; low to medium, 7d to 11 id; crossbred bellies and pieces, good to super, 9d to lid; low to medium, 64d to 84d.

Crutchings: Halfbred, medium to good, 8d to 10.3 d; inferior and seedy, 5d to 74d; crossbred, medium to good, 8d to lOd; inferior and seedy, 5d to 7Jd.

Locks: Halfbred, 54d to 6.3 d; crossbred, 4d to 6d.