DEMAND FOR WOOL

New Zealand Herald, Volume LXX, Issue 21458, 4 April 1933, Page 11

DEMAND FOR WOOL

'ADVANCE IN TRICES FINAL WELLINGTON SALE ,/ WIDESPREAD BIDDING GOOD 'CLEARANCE MADE £BT TELEGRAPH —OWN CORRESPONDENT] WELLINGTON, Monday The offering was a comparatively ' final 1 ono, but the final wool sale in Wellington' provided a happy ending to the 1932-33 selling season, with a general advance of id to $d a pound on the March sale prices. Not for a long time has Wellington known such keenness at ,a wool sale as was shown to-day. From first to last bidding was particularly vigorous and well spread. For an end-of-the-season sale the fctfering was a fairly good one, although the total catalogued, 11,400 hales, wa3 below that of the April sale last year. Naturally, the general quality of the offering was not up to the. standard of earlier sales, a fact that jnakes the firming in tone all the more marked. There was a full bench of buyers representing all branches of the trade. Continental buyers predominated, but Bradford was operating freely and there was a fair order from Japan. A good clearance was made, brokers estimating that from So to 95 per cent of the offering was sold. The catalogues comprised mainly nverage to inferior crossbred wools, which*realised 3d to 3d a pound better than the prices at the March sale. In pome cases the advance was £d to fd. ,Values for the few super crossbred lots offered advanced id. Good lambs' wool was 3d to 2d better. Halfbreds were Ecarce and sold generally at the best prices of the year for Wellington. A feature of the sale was the keen demand for hogget wools of good quality, for which good prices were realised. The highest prices of the sale were lOd and iOid for Southdowns, and many lines made Sd to 9Jd. Fine crossbred made up to 6£d; hoggets sold freely at up to 7|d and not a few lines of lambs' wool .touched Bsd. The view was expressed by several brokers that the sale was the finish to a very trying season and that when the final figures for the season were available it would bo found that the heavy carry-over of wool which had been a deadweight on the market for the last two years, had been considerably reduced. The ollicial range of prices was as follows: —

WOOL TRADE REVIEW I ! • LONDON AND CONTINENT j PRICES COMPARATIVELY FIRM LONDON, April 2 j The London representative of tho [Australian Wool growers' Council, Mr. fW. P. Devereux, reports:—Tho comparatively firm prices at the close of the London sales have continued. Tho improving tendency of overseas markets reflects tho underlying strength of the position in most of the consuming countries. The large proportion sold in London for Continental account, mostly for Germany, is a portant feature, although the quant y carried forward considerably increased. It was largely composed of Jsew Zealand crossbreds, scoureds ana Blipes and Australian scoureds, so had little adverse effect on the general position. , ~ , Last week's increased quotations tor [Merino tops on the Bradford market lire firmly established. Thero is some Hew business at full rates and tho combing output has been well taken up. Crossbred tops are a little better and there is some business both for export tend the home trade. In France and Belgium there were quiet weekly sales of tops. In Germany only about 50 per cent of the production was offered and the biggest demand was for crossbreds. Worsted spinners are fairly well occupied. New orders are scarce. The Continental futures markets are quiet and Unchanged. COMPETITION IN SYDNEY MARKET STILL VERY FIRM (Received April 3, 8.25 p.m.) SYDNEY, April 3 The Sydney wool sales were resumed , to-day, when 10,294 bales were offered ond 959G were sold. Also 1002 bales vere sold privately. . . . Thero was brisk competition in all sections and particularly strong demand from tho Continent and Yorkshire. The market was very firm, with prices unchanged from tho previous Sydney levels. Greasy Merino sold to 14d. Tho average price of the wool sold in Sydney to date is £ll 5s lOd a bale, or S.Bd a lb.

d d Merino— Average >■ . >• 7 $ to 82 Inferior . . . ■< to 7* Fine Halfbred, 56-58— Average 8 to 10^ Inferior to 7} Medium Halfbrecl, 50-56- - Average 6| to 9* Extra Fine Crossbred, 48-50 — Super . . w 8 to 91 Average K « > .• 51 to 72 Inferior 3| to 0 Fine Crossbred, 46-48 — Super . 6| to 8 Average *. .. 4 to Gi Inferior 2 to 31 Medium Crossbred, 44-46 — Super . . 6 to 61 Average . « , . 3i to 5b Inferior •2 to 31 Coarse Crossbred, 40-44— * Super . . . . * 5 to 5$ Average 3J to 4* Inferior . . •.« li to 31 Low Crossbred, 36-40 — 42 Super . . . -< to Averago ** > * 2b to 3£ Hoggets— 41 to 48-50 . . . v • 9 81 Fine, 46-48 . . . « 4 to Medium, 44-46 * < 3 to 7 Coarse, 40-44 >• . 3J to 42 Low, 36-40 . s •: m to 42 lambs Down —• 50-56 . . » * :• » 5 to 8£ 9 Fine, 44-50 . . _ • • 4£ to Seedy and inferior 2 to 5 JBellies and Pieces — Merino: 4 to Low to Medium y* 6 Half bred: 5i Low to medium * 3 to Crossbred: 3} to Good to super v •< 52 Low to medium * * U to 32 Crutehings—2\ to Medium to good . 4 Inferior and seedy « i to 21 Locks — to 22 Half bred kx >: * Crossbred 1 to 2 ——