Better-Than-Expected Wool Prices At Wellington Sale

Northern Advocate, 11 January 1938, Page 9

Better-Than-Expected Wool Prices At Wellington Sale

[Per Press Association. Copyright.! WELLINGTON. This Day. r THE SECOND "WELLINGTON WOOL SALE OF THE 1937-38 SEASON, PRICES WERE BETTER THAN THEY HAVE BEEN, IN VIEW OF THE RECENT DECLINE IN WOOL MARKET OVERSEAS. GENERALLY TODAY’S PRICES SHOWED A DROP OF ABOUT liD ON THOSE REALISED AT THE DUNEDIN SALE ON DECEMBER 12, BUT THEY WERE ID TO W ABOVE THOSE OF THE FIRST WELLINGTON SALE ON DECEMBER 8.

A belter selection of good style wool was offering, and many of these lines showed a good advance on last month’s prices at Wellington.

Bradford and the Continent made the running and were the mainstay of the market. Local mills also bought well and paid good prices for wool suitable to their requirements. There were some orders filled for Canada, but Japan kept out of the market.

Prior to Christmas, there had been six gales in New Zealand, prices showing a gradual improvement from the low level of the Auckland sale, which opened the season on November 27 until the peak was reached at Dunedin on December 21.

Since then there has boon a marked decline in the Yorkshire market and in Antwerp, with a consequent easing in prices at Sydney sales. Cabled reports from Bradford and the Continent at the end of last week were far from reassuring, and revised valuations on a lower level of values were issued by Wellington brokers for yesterday’s offering.

Better Than Expected,

Actually, prices were better than had been expected and for certain linos, such as lambs’ wool, coarse, preparing sorts, and good style lines, wore well in excess of those realised at the December sale at Wellington. The total offering yesterday was approximately 28,000 bales, and included many well known clips, from the Wairarapa and Manawatu districts, as well as from Marlborough and Nelson. Among them were many good style wools, but others were lacking in length and light increase, due to the ■adverse growing season.

Passings were relatively few. Where, however, growers had not accepted the revised valuations of their brokers, passings were monotonously heavy, and bidding was inclined to drag. In one catalogue of just over 2000 bales, passings ,at , auction amounted to fully 50 per cent. Almost Quarter Passed. At the close of the sale, which lasted 64 hours, the passings totalled 22? per cent of the total offering, but many sales were made by private treaty.

The sale was erratic and dull at times, but during the morning it went at a fast pace, more than 1100 lots, consisting of some 10,000 bales being disposed of during the first two hours.

The top price of the day was 16,1 d for a line of five bales of A lambs’ woo! from Pahiatua, which was bought by a local firm.

Another line of six bales of first lambs’ wool from Te Raumea made 16d. Six bales of A lamb sold at 15? d, five bales of first lamb and a similar quantity of A lamb at 15|d. Six bales of A lambs made 15? d. A feature,of the sale was that many lots classed B and C made better prices than A lots in the same clip. For example, in one clip, 20 bales of A ewes sold at 12d and 10 bales of D ewes at 14? d.

Range of Prices,

The official ranee of prices compiled by the Wellington Wool Brokers’ Association, is as follows (the prices at the first sale last month being shown for comparative purposes):— December 8. January 10. Merino—- d. d. d. d. Average ... 121 to 14 12? to 13', Inferior ... 11 ? to 12 j to 12 Fine halfbred, 56 to 58— , Super .... 13? to 151 13? to 15? Average ... 11l to 13 12 to 131 Inferior ... 9 to 111 9? to 11? Medium halfbred, 50 to 56 Super .... 124 to 13? 124 to 15 Average ..11 to 12* 11? to 12? Inferior ... 9? to 11 104 to 11 Extra fine crossbred 48 to 50Super 12 to 13? 114 to 15 Average ... 104 to 12 10? to 11? Inferior ... 9 to 104 8? to 10 Fine crossbred 46 to 48Super 11? to 12? 11? to 15 Average '... 10 to 11 10? to 11? Inferior ... 9 to 9? 84 to 104 Medium crossbred, 44 to 46 Super .... 11? to 13 12 to 15 Average ... 10 to 11? 10? to 11? Inferior ... 8? to 9? 84 to 10? Coarse crossbred, 40 to 44-

Super 11 to 12£ 11£ to 15 Average ... 10 to 10? 10i to 11? Inferior ... B.’, to 9£ 91 to 101 Low crossbred, 36 to 40-

Super Average ... 10 to 10? to 101 Hoggets—

Fine 48 to 50 . 10 to 131 9? to 131 Fine 46 to 48 . 10 to 12| 10 to 121 Lambs—

Fine 44 to 50 , 10? to 14? 11’ to 16| Medium. 40 to 44 .. Seedy and inferior . 6? to 10 8? to 12 Bellies and Pieces— Merino: Good to super 9 to 10 91 to 121 Low tomcd’m 8 to 10~ Halfbred: Good to super 9? to 10 81 to 12? Low tomcd’m (> to 9 1\ to 9 Crossbred; Good to super 81 to 101 B.', to 11 Low tomed’m 6 to 8.1 61 to 8? Crutchings—

Medium to good .... 7,1 to 10,1 8J to 1U Inferior to seedy .... 4 r , ! to 7 5 A to tit Locks—

Merino 5,| to 6.1 4.'. to 6.1 Crossbred ... 5 to 61 41 to 61Crossbred ... 4’, to 7i 5i to 7?