TRAGIC WOOL PRICES.

New Zealand Herald, Volume LXIX, Issue 21130, 12 March 1932, Page 12

TRAGIC WOOL PRICES.

THE WELLINGTON SALE. GENERAL DECLINE SHOWN. MANY LOTS PASSED IN. ONLY GOOD SORTS WANTED. [BY TELEGRAm. —OWN CORRESPONDENT.] "WELLINGTON, Friday. Fanners who li;id been optimistic regarding to-day's wool sale in Wellington soon had tlieir hopes shattered and prices from tho commencement showed a fall on February values. From the producers point of view the prices obtained can only bo described as tragic. Crossbreds realised what must be regarded as impossible values, well under tho cost of production. The only hope farmers now have is that bedrock has been reached at last. Tho total quantity catalogued was just over 26,000 bales, but this was reduced by fairly heavy withdrawals. Passings were monotonously frequent as tho eale proceeded, growers obviously not being prepared to meet the low market. Clearances at auction in some of the catalogues were from 60 to 65 per cent, and in others about 70 per cent., but it is stated that a fair quantity was sold privately after the sale. Tho wool offered consisted largely of crossbreds, with a small proportion of halfbreds and average to low Merinos. Th 0 great bulk of the catalogue was topmaking sorts and included a large quantity of inferior to low average wools. Some Buyers Inactive.

There was a fully representative bench of buyers, but several sections, notably Llie Continent, were more or less inactive. The attitude of the French and German buyers was indicative of the situation created by the recently effective British tariff and the uncertainty of the political outlook in Europe, while the riso in sterling is having tho effect of making purchases dearer for tho Continent. Yorkshire dominated tho buying to-day and operated vigorously at the low limits ruling. Buyers on Japancso account were also busy and with Bradford took the great bulk of the wool sold. Japan bought all grades of wool, from crutchings upward. French representatives bought sparingly, their purchases being confined chiefly to lambs, bellies and pieces, halfbreds and Merinos. Only 0110 German buyer operated at all freely and ho bought mainly inferior crossbreds and halfbrccis. Representatives of local mills took whatever suited their requirements. At tho low range of values ruling competition was fairly brisk on all good wools, particularly any well got up sorts, but for all other kinds bidding was very poor, some lines not bringing a single bid. The sale dragged badly at times and this was not without its effect on the fairly large gallery of farmers and other interested onlookers. Occasional bursts of excited bidding for desirable lots were the only bright feature of a disappointing sale. Extent of the Drop. Compared with values ruling at the February sal e at Wellington prices to-day were as follows:—l\terinos, down; halfbred, Ad to Id down; average crossbreds, 46-50's' to Id down ; inferior crossbreds of all grades, i|d to Id and in some cases down; bellies and pieces, to down; crutchings, £d down; lambs, to Id down. The following is the official range of prices, that for the previous sale also being given :—■

COMPETITION IN LONDON. LATE .RATES MAINTAINED. LONDON, March 10. At the London wool sales to-day 6651 bales wore offered, including 4754 from New Zealand and about 4845 were sold. There was poorl competition and prices were maintained. New Zealand clips sold as follows: Greasy crossbred, " K.8.A.," top Crico, BAd; average, 6ijd. Halfred, " Benmore," lid and 9jjd. Merino, " Lansdowne," and 10|d. Slipo (lambs'), " Pnrcora," 11 Jd and lOd. On the Bradford tops market there is rather more business. Quotations compared with last week are:—

Feb. 11. March 11. d. d. d. d. Merino— Super .10 to Hi — Average . 71 to 91 6 to 7! Fino Half bred, 56-53— Super . . . 9? to 11 7 to 9 A vera ro . . . 72 to 04 64 to 82 Inferior . 5 1 to 75 •1 to 61 Medium Halfbred, 60-50 — Average . 72 to 94 7 to 8! Inferior . 4< to 74 4 to 61 Corriedule — i\venice . 8 to 10 7 to 0 Inferior . G to 71 — Extra Fine Crossbred, 48-50— Super . . . Si to 01 6 to 8 Average . 61 to 8 4J to 7 Inferior . . 4 to 6 21 to 41 Fin© Crossbred, 46"IS— Super . 7 to 81 6 to 8 Average . . . ft to 64 41 to 64 Inferior . 3 to a •J to 3j Medium Crossbred. 44-46— Super . . . 6 to Si 51 to 61 Avenice . . . 44 to 51 3J to 6 Inferior 24 to 4i 11 to 31 Coarse Crossbred, ! O Super . 5 to 71 f-o 71 Average . 4 to 42 34 to 44 Inferior . 3 to 31 2 to 31 Low Crossbred. 30-10 — 52 Super . . to — ■Average . 33 to 41 3J to 32 Inferior . 2! to 31 24 to 3 Hogcels— 48-50 . . - . Si to 0 41 to 7 Fine. 46-48 . 44 to 71 4 to 64 Medium, 44-1(5 . 4 to 62 4 to 54 Coarse, 40-4 i . 3{ to 32 to 44 Lambs' Down— 50-5ti . 65 to 84 51 to 71 Fine . . . fij to 93 6i to 8 Seedy and inferior 2 to 54 1 to 5 Bellies and Pieces- - Merino — Low to medium . 4J to 4! Halfbred— Good to super . 5 to 74 31 to 51 Low to medium . 3J to 5 2i to 32 Crossbred— Good to bup*v . . 3} to 5 aj to 61 Low to medium . 11 to 31 1 to 3 Crutchings— Medium to good . 3} to 51 3 to 4i Inferior and eoedy 1 to 3 I to 22 Locks — Merino — 31 to 2 Halfbred to 2 to 2 Crossbred . . 11 to 21 1 to 1}

Mar. 10. Mar. 3 per lb. per lb. d. d. Seventies » • S . 2fi 2fi Sixty-fcura .. 02} 22 Sixties , .■ 20} 20 Fiffy-sixcs I # - .. 17 17 Fifties # . . , 12 12 Forty-sixes , # .. 0} 9} Forties . . . . 9 9