DOMINION'S WOOL

New Zealand Herald, Volume LXX, Issue 21463, 10 April 1933, Page 11

DOMINION'S WOOL

SELLING SEASON ENDS BETTER TONE IN MARKET SATISFACTORY CLEARANCE There has been a better tone in the wool market during the selling season just completed. Ready clearances have been effected, as the result of a strong demand by buyers, within definite price limits, and the willingness of growers to meet the market. On the returns the season cannot be regarded as satisfactory, ruling prices being still unremunerative to ' the grower. Average prices in the North Island are estimated at between 4d and 5d per lb. To put the industry on a secure footing crossbreds must improve 100 per cent to 9d per lb. and a fair ' return for halfbreds is generally reckoned at lOd to Is per lb. Ruling prices in the low-grade wools show a heavy loss to the grower. Larger Proportion Sold Perhaps the most satisfactory feature of the season was that a larger proportion of the clip passed into buyers' hands. The amount of wool held over in previous seasons tended to have a depressing effect on the market and the sales should open next season to an unencumbered market. Although wool is not a spoilable commodity like butter there are limits to the period of holding, and accumulation helps the grower' only in the event of a rising market. Growers generally realised the futility of further storage and some of the wool placed on the market during the season was subject to holding charges. On some of these lines a loss was natural. At the jfinal sales this month the clearance was over 90 per cent, and it is estimated that the amount sold during the whole season was between 85 per cent and 90 per cent of the total offering. This compares with a clearance last season of about 80 per cent, the amount offered being 572,342 bales and that sold 465,810 bales. The estimated sales this season were abou£ 600,000 bales. The strength of the demand this season was for the finer wools, which are fashionable at the moment. There has been wider inquiry for 50's and over and the coarser grades /have also been sought, although at lower limits. Although prices generally have been lower in the North Island, there has been a keener demand and the sales have shown more animation. In the South Island values have been slightly better, due to strong Japanese and local competition for the finer sorts. Limits of Buyers Throughout most of the season buvers' limits were restricted for the lower grades, bui; fairly elastic limits were revealed on competition for other sorts. However, the 46's quality was more keenly sought in the closing stages of the series and it appears that there is a greater Home demand for the lower-grade tops. Bradford still has a considerable and steadving influence on the market, although there was increasing competition from other quarters. The sales closed very firm with all sections of the trade active. Continental competition was evenly spread throughout the series, with Bradford also a constant buyer. Japan was more active in the South Island and, the local mills also came on the market frequently. As far as the North Island was local mills filled most of their requirements at the opening sales. As far as can be estimated, shipment to London this season has not given particular advantage, in spite of the higher exchange rate. Values for the fine crossbreds in New Zealand were at paritv with London. A fair quantity ot wool'has been shipped on consignment this year, but the movement was not as pronounced as in previous years. THE NAPIER SALE RANGE OF PRICES [BT TELEGRAPH—PRESS ASSOCIATION] NAPIER. Saturday

Following was the official range of prices at the final Napier wool sale held last evening:— Southdowna — d. 8 to 61 to d. 91 7| Medium Halfbred, 60-56— Average ' to 7 to 91 81. Extra Fine Crossbred, 48-30— to 5} to 4 to 61 5 Fine Crossbred, 46-48— 41 to 51 3 to 4" Medium Crossbred. 44-46— 4 to _ Average . » • • ' • 2! . 2 to Low Crossbred, 36-40— ' to 3\ Hoggets— 44-46 .. •• *• 41 to 4 to 3J to r 8 71 6? Lambs— Seedy and inferior . 51 to 4 to 1J to 7 61 41 Necks • • • • • • 3i to 5i PiecesGood to euper «. 31 to 4} Low to medium 2 to 31 Seedy and inferior . 1 to " BelliesGood to super .. * . 3i to 4 Low to medium .. .. 2 to " 3 Seedy and inferior . .. 1 to !* Locks— Crossbred .-. • • * * 1 to 2 Crnichings— . 3 to 31 Good to euper . • Low to medium 2 to 2} Seedy, and inferior . 1 to 11