NEXT WOOL SALE

New Zealand Herald, Volume LXXI, Issue 21698, 13 January 1934, Page 12

NEXT WOOL SALE

AUCKLAND OFFERING GOOD PRICES EXPECTED CLIP WELL UP TO STANDARD LARGE AMOUNT RECLASSED Prices fully equal to those established at recent Dominion sales this year are expected to rule at tho second Auckland wool sale, which will be held in the main chamber of the Town Hall on Monday, commencing at 8 a.m. According to brokers' catalogues the total offering will bo 25,206 bales, but it is possible that some lots will be withdrawn to bring the total closer to tho limit of 25,000 bales. The first selling brokers will be Dalgety and Company, Limited, which are offering -the largest catalogue, almost 8000 bales. About 60 buyers arrived from Wellington j'esterday morning and a start was made valuing the clip. The buyers will bo busy at the stores throughout to-day and to-morrow. The wool is well up to the standard of that sold at corresponding fixtures in recent years, although it is hardly equal to the average at the first Auckland sale. Some of tho offering comprises wool shorn before the first sale, but other clips, shorn later, aro carrying slightly more condition. The wool .is described as of good average condition, with a fair sprinkling of old wools. The majority is ewe and wether wool, with a fair amount of Southdown. As is usual in the case of the second sale, the supply of hogget wool is limited. There is only a very small proportion of rough and seedy wool. Value of Reclassing

A satisfactory feature is that many' growers have availed themselves of the facilities provided by brokers, for reclassing wool. It is estimated that fully 50 per cent more reclassing has been done in brokers' stores than in recent seasons. Growers are able to afford this service now that wool is again at payable levels. Buyers are finding the wool more attractively displayed and the wisdom of reclassing will probably be reflected in prices. Reclassing sometimes moans a difference of 2d to 3d per lb. in value, as the buying trade is largely specialised and buyers often do not want a mixed lot.

The upward trend in wool values since the first Auckland sale on November 27 has been most encouraging to the industry and there is nothing to indicate any weakness in the demand. A further promising sign is that prices for the lower grades are beginning to show a closer relation to the highervalued wools. This movement was predicted some time ago, after the fine wools established a. sudden rise. It is particularly pleasing to the industry in the Auckland Province, where medium and low crossbreds provide most of the clip. Brokers have no hesitation in expressing the belief that values, grade for grade, will bo substantially higher tbnn at, the first Auckland sale. This is not unreasonable to expect in view of the advances recorded at successive sales since the season opened.

All Wool Wanted "We will possibly find that prices will be above brokers' valuations," said Mr. B. J. Marquet,* chairman of the Auckland Woolbrokers' Association, yesterday. "That is the indication given, but it must be remembered that the broker always places a conservative price on his wool." , Mr. Marquet said it was not anticipated there would be many passings at the . sale. One of the buyers had remarked that he did not think there would be much wool left about Auckland when they were finished. The only thing which might check the fine record of selling already established was an unreasonably high reserve fixed by the grower. However, the growers realised that such action would not be in their interests and up to the present there had been no indication of holding off the market. The quantities which will be offered by the various brokers and the order of sale are as follows: —•

Bales Dalgety and Co., Ltd. . . . . 7,988 Abraham and Williams, Ltd. . . 3,634 Alfred Buckland and Sons, Ltd. 1,941 Farmers' Co-op. Auctioneering Co., Ltd., and tlie North Auckland Farmers' Co-op., Ltd • • ; • 5,504 N.Z. Loan and Mercantile Agency Co., Ltd. . . . . 6,139 Total . . . . .... 25,206 FIRST WANGANUT SALE OFFERING OF 30,000 BALES The first Wanganui wool sale of the season will las held next Friday. The catalogue comprises 30,000 bales, compared with 27,566 bales offered at tho corresponding sale Inst year.

BRADFORD TOPS

INCREASED QUOTATIONS MARKET VERY FIRM LONDON, Jan. 11 Tho Bradford tops market is very firm. Following are to-day's quotations and thoso for tho three previous weeks: — Deo. 21 Dec. 28 Jan. 4 Jan. 11 Per lb. Per lb. Per lb. Per lb. d <1 d d Seventies . . 39% 39% 42 44 Sixty-fours . . 39 39 41 43 Sixties .. 37 38 38 40 Fifty-sixes . . 20% 27 Fifties . . . 19% 19% 20% 23 Forty-sixes . . 13,4 15/j 16/j Forties .. U 3 A 11/4 12 13

PRICES IN SYDNEY PRESENT WEEK'S RANGE SYDNEY, Jan. 12 Wool prices current in Sydney are:— Greasy super Merino fleece, to 36Jd; greasy Merino, best, 27$ dto 28Jd; good, 25-\d to 26id; average, 23Jd to 2-1* d; ditto, slight seed, best, 25d to 26d; good, 23d to 24d; average, 21d to 22d; ditto, burry, best, 21d to 22d; average, 19d to 20d; inferior, 17d to 18d. Lambs' wool, best, to 26£ d; come-backs, best, to 292 d; crossbred, best, to 29:\d.