MARKET FOR WOOL

New Zealand Herald, Volume LXIX, Issue 21359, 7 December 1932, Page 12

MARKET FOR WOOL

OFFERING AT NAPIER A DISAPPOINTING SALE GOOD QUALITY OF CLIP [DY TELEGRAPH —OWN CORRESPONDENT] NAPIER, Tuesday The first i'.'ool sale of the season was held in Napier tin's afternoon and evening. Pricos for fine wools compared favourably up to a point with those realised at the sale in Auckland last week, hut those for inferior qualities were most disappointing. The market was most erratic and the sale is in some quarters described ns an extraordinary one. It was notice;'lile that the prices received did not in many cases coincide with later London advices.

There was an outstanding demand within rigid limits for medium-length hogget wool and it sold well. Unfortunately, however, there was a great deal of deep hogget wool of similar quality which was too long for buyers' requirements. There was no order for this and it therefore lost value immediately on that account. This was one of the most disappointing features of the sale. There was a wide margin between the values of finer wools and medium to coarse, especially those below "46 ' quality, with the result that a largo quantity of the latter class had to be passed in. Good necks and pieces elicited very good competition from Continental buyers and sold at comparatively dear rates. Generally speaking, competition for bellies was good, but extreme prices were not offered fortius class. Crutchings and pieces sold fairly well. The bulk of the competition appeared to coine fron the Continent and there were no doubt a number of orders from Japan on commission for certain classes of wools. Bradford was particularly quiet in its operations. The Continental competition was no doubt due to favourable exchange conditions.

The quality of wool contained in the offering was considerably better than it lias been during the past two seasons. It was made up of heavier fleeces than usual, due to the excellent season that has been experienced, while it was also cleaner than in the past two seasons, when it suffered extensively in this respect on account of the effects of the earthquake 011 the country districts. Naturally, held over wool that had deteriorated did not elicit much competition, and prices suffered accordingly. Held over lots were fairly liberally interspersed throughout the offering. The total catalogue, 28,673 bales, was considerably larger than is usual, and was only 1337 bales les3 than the allocation for the sale, and 6277 bales more than was offered at the first sale of the last selling season. It was noticeable as the sale proceeded that withdrawals were not parti cu la rly 11 u nierous. AUCTIONS AT SYDNEY GOOD CLEARANCE YESTERDAY (Received December 0, 8.55 pan.) SYDNEY, Dec. G At the Sydney wool sales to-day 11,805 bales were offered and 10,868 were sold. Also 982 bales were sold privately. Prices were very firm for all descriptions except faulty crossbreds, which sold in buyers' favour. Greasy Merino sold to 183 d. BRISK LONDON COMPETITION NEW ZEALAND CLIPS SOLD LONDON, Deo. 5 At the London wool sales to-day 7548 bales were offered, including 2032 from New Zealand, and about 5000 were sold. There was brisk home and Continental competition. The Continent took the bulk of Puntas at 5 per cent above closing of last series.

New Zealand clips sold as follows: Greasy halfbred, "Nat/D/B," llgd; crossbred, "Waitio," toj) price 9;d. average P-Ji<l; hall bred lamb slipe, "Paroora," 12^cl; scoureds, "1111/ RD," 17d and 36£ d. The Bradford tops market is very firm, topniakei's refusing to make concessions.