MARKET FOR WOOL

New Zealand Herald, Volume LXX, Issue 21404, 31 January 1933, Page 10

MARKET FOR WOOL

BETTER DUNEDIN SALE

'DEMAND FROM CONTINENT

£OOD CLEARANCE EFFECTED

TOP PRICE 133 d A POUND

[ill - TELEGRAM—PRESS ASSOCIATION] DUNE DIN. Monday The second Dunedin wool sale oi' the Reason was held to-day, the total number of bales offered being 30,171. Although I prices are still below the cost of production, growers showed more readiness to toll, and only in isolated cases were high reserves placed on clips. This resulted in -- yery few passing. Buyers were represented in full force, fiut from the outset it was noticeable that the Continental section controlled the sale. Their limits were more elastic than those of Bradford, with the result that Bradford buyers were often unable to compete. This quietened the tone of the sale, there rot being the same animated competition ps at the December sale, when all sections r>[ the trade were keenly competing. After four years of dragging sales it was pleasing to interested in the wool industry to hear improved prices bid by Continental buyers, who appeared to purchase yith renewed confidence. Following on tho improvement in values *>t Home, finer wools showed an advance rn the prices at the last sale held here, fl'his advance was also increased by the 'difference in exchange, and values improved from to 2d per lb. on all grades of fine wool. In some cases of outstanding quality the improvement was more marked. Crossbreds were also very firm, especially for super quality showing jany fineness. The advance registered for crossbreds was to Id per lb. on the December prices. Top prices realised for fleece wool were for 10 bales of super Corriedale, and 13jd for eight bales of super Merino ewe 3ma five of super Merino wether. The official range of prices, together ■with that of the sale last month was as follows Jan., 1933 Dec., 3932 d d d d Merino— Extra super .. to 12i to 121 Super . . w. 10 to 12 0 to 11 Average . . Si to 9J 71 to 8? Inferior ~ 6 to 7i 5 to 6] Corriedale— Extra super . * -to 13? Super . . .. 11 to 121 Average . ~ 10 to 10} Fine Halfbred— Extra super .. 12J to 13} 31 to 12 Super . . .. 11 to 121 91 to 101 Average . . . 9J to 301 7} to 91 Inferior - . . S to 9( G to 71 (Medium Halfbred— Extra, super . . 32 to 13i to 31 Super . . . . 10i to Hi 8 1-5 to 9i Average . . . 9to 10 7$ to 8 Inferior . .. 71 to 85 6 to 7 liExtra Fine Crossbred— Extra super .. to 11J Si'iper . . .. 8J to 92 7J to PI Average . ..7 to 8 6 to 7 Inferior . .. 5i to GJ 5 to 6 tFine Crossbred— Super . . .. 7J to 8i 6} to 74 Average . . . 6 to 7 51 to fii Inferior .. 41 to 5} 3i to 5 'ißledium Crossbred — Super . . .. fi to 7 51 to 6 Average . . • 4J to 51 1 to 5 Inferior .• ■, 3 to 4} 2i to 3" (Hoggets— , Halfbred ». 9 to 111 5 to S2 Crossbred .. GJ to 81 4} to 7 and Pieces— Merino: Good to super SJ to 101 8? to 82 Low to medium 51 to 8 41 to 6i Halfbred: , Good to super 9 to lli 7 to 91 Low to medium 61 to 8 32 to 61 Crossbred: Good to super 7 to ft 5 to 7 Low to medium 4 to 6 25 to 41 Medium to good 31 to 42 21 to 4» Inferior to seedy 11 to 3 01 to 2 1/ocks — Merino .. .« li to 3 1 to 2» . Halfbred .. 3 to 3£ 1 to 3 Crossbred . • li to 21 0i to li HIGH PRICES FOR PIECES GOOD 'QUALITY OF OFFERING [by TELEGRAPH —OWN correspondent] DUNEDIN, Monday The \vo9l catalogued for to-day's sale contained more finer qualities than at the December sale. The condition of the wool, although slightly heavier, was better than last year's offerings, when dry conditions affected the quality, especially of the North Otago clips. The tail end of the clips sold exceptionally well. The Continental representatives were the chief buyers. Local i-courers were also competing, but they did not l;ft the usual quantity on account of the prices being too high for -them. In comparison with prices for fleece phenomenal values were realised for necks and pieces. In some instances the increase in prices, especially for necks and super pieces, was about 2d per lb. The rise in values of the tail end «f clips is one of the features of this reason's/sales. Last season some growers held their r low grade pieces and locks as they were ■unsaleable at prices which would not meet expenses. The increased values now Tuling for all descriptions will be helpful in raising the return per sheep. The December catalogues contained more outstanding clips suitable for local □mills. This accounts for the fewer lots purchased by them at this sale. For any lots suitable for their requirements local zmills outbid other buyers, lots purchased hy them realising the highest prices of the sale.

The increase in the exchange war, the main cause of the rise in values. Until "the figures, are worked out for the sale it .will not ib'e known what is the exact rvalue of the increase. It is anticipated, however, , that growers will receive an ■extra £50,000 from exchange alone. The firming of the market in addition io the increase in exchange has met with ready lesponse from growers. With a continuation of the present position it is anticipated that the bulk of the old wool will be y>ld this season. There is not nearly the same amount of old wool held liere as in other centres. ' I SYDNEY PRICES FIRM STRONG COMPETITION RULES (Received January 30, 10.25 p.m.) I SYDNEY, Jan. 30 At'the Sydney wool sales to-day 11,704 'bales woje offered and 10,907 sold, also '2384 privately. There was strong general competition, with a special demand for skirtings. Prices were generally firm at recent levels. Greasy Merino fleece sold io 19|d./ The average price of wool sold last, week was £ll 16s Id a bale, or 9.14 d per )b. '