MARKET FOR WOOL

New Zealand Herald, Volume LXXI, Issue 21949, 5 November 1934, Page 5

MARKET FOR WOOL

RECENT LONDON SALES AN IMPROVED POSITION A noto ot returning confidence is struck in a report "11 the fifth series of colonial wool sales, which closed in London on October 3, issued by li. Dawson, Sods and Company, Limited. 'I lie course of the series was marked by movements which were not only surprising, hut somewhat sensational, the report states The tone and atmosphere completely changed alter the first week, wli»n hesitation and depression dominated, I'lie, unexpected advent ol strong Continental demand during the second week initiated a new development, which was keenly supported by the home trade. Competition strengthened daily, and a sharp upward movement resulted. 'J'he surprising feature was that several German houses shared in this buying movement, in spite of the difficulty which still obtains in Germany to get the necessary import licences. The only explanation was the fact that Germany's need ior wool was so apparent that it encouraged speculative o)>eraiors because of the early possibility of the door being more widely opened. The support from France and England was based on two factors —that new business was available, although at low prices, and the general belief that wool was cheap and worth buying, especially in view of the fact that the spring goods season was likely to show a preferential demand for fine worsteds. There was also a remarkably keen demand for medium crossbred? at improved prices, in spite of the fact that Merino values were so low. Although the position is somewhat anomalous the salient facts remained that all wools were relatively cheap, and that a general confidence in the situation was returning.

STOCK SALES VALUES AT MORRINSVILLE GOOD COMPETITION FOR PIGS The Farmers' Co-opertit ivo A net ioneerinc Company, Limited, Hamilton, reports that at the firm's Morrinsville cstock sale on Friday another full yarding of pigs was penned. Values remained firm at ruling schedule rates. The top price for the sale was JL"J lis. Although less than previous quotations, this price was realised for more than 50 pigs. A lino oi 55 prime baconers on account of Mr. R. J. Mears averaged £:1 Us Gd. Baconers realised from aid to sjd per lb., und porkers, (>Jd to fi:d per lb. Prime heavy baconers made t'.\ Us to £;3 1,25; medium, £;l Is to £:5 8s; light, £2 14s to £2 19s; heavy porkers and unfinished baconers, £2 Ss to £2 lljs; medium. £2 to £2 lis; light, 35s to £2 2s; unfinished porkers, 30s to 30s. Store pigs: A full yarding of store pus came forward, and met with keen competition. Well-grown Tainworth stores made 29s to 325; smaller Tamwortli stores, 25s to 275; good slips. 22s to 2 Is; good weaners. 'Ss to 21s (Sri : smaller, 13s fid to Ifis; Tamworth sows, due to farrow, £2 to £2 10s; good Tamworth boar. £2 10s. Beef; There was a heavy yarding, mostly cow beef. Prices for good quality remained firm, while heavy second quality eased slightly. A heavy yarding of yearling heifers sold at late rates. Medium fat steers made £7 5s to £7 10s; lighter, £5 to £fi lis; medium fat cows and heifers. £5 to £5 13s; lighter. £3 10s to £4 Ss; killable cows. £2 10s to £3 2s fid; fresh conditioned cows. 30s to £2 2s fid; stores, to 2*s: boners, to IRs; empty young cows and heifers, 30s to £2; best quality Jersey yearling heifers, £2 to ££ 15s; medium, to 355; smaller, to 20s; service one-year bulls, £4 to £5 10s: others, to £3; service two-year bulls. £3 sr» to £4 10s: potter bulls, to 35=. Pairv cattle; A rr.edivm va v 'ling wrs penned. Competition f" r qua'ity heifers. do=e to profit, was keen, hut eased for inferior and irore backward sorts. Choice Jersey and Jersey-cross beifers made ■P4 10s to £5 fclo=r> to ">rofin ; later culvers. £3 10s to £4; backward. £■' Ins to £3 s=: sound dairy cows, bn ckward. £2 5s to £2 15s. Sheen; Shorn fat wethers rr»de 2's to ?"s; p'lorn fdt ewes, to IPs lid; li"ht fat hoggets, to 21s fid: shorn fnt hoggets. 18s to IDs fid; ewes and lambs. 15s Id.