WOOL VALUES FIRM

New Zealand Herald, Volume LXXII, Issue 22024, 2 February 1935, Page 14

WOOL VALUES FIRM

THE INVERCAimiLL SALE DEMAND FOR SUPER GRADES PURCHASES BY LOCAL MILLS ALL COUNTRIES OPERATING [by TELEGRAPH —OWN correspondent] INVEHCARGILL. Friday The first Invercargill wool sale of the season held in the Civic Theatre today may not have caused growers a great deal of elation, but it was at least fully up to expectations. The values which have ruled at the recent northern sales were well maintained, and for anything in the nature of super wools there was a very keen demand.

The cheque which Southland growers will receive will fall a long way short of that which caused such a loosening of the purse strings in February, 1934, but all things considered it will be a satisfactory one. Passings at the auction did not exceed 15 per cent and with the sales made privately immediately after the salo, it is expected that 90 per cent of the total offering of 22,705 bales will have been disposed of. Bidding Always Animated Bidding was always animated and although a lot of the wool wdl find its way to Bradford, a fair amount was purchased by the Continent and Japan, while the local mills were ready buyers of super wools. Germany was in the market to some extent and the speculative element was also in evidence, which assisted considerably in the values obtained for the lower crossbred wools.

The sale commenced at 2 o'clock and finished just before 6.30, the buyers preferring to go through Without a break except for tho brief intermission between the catalogues. In less than four and a-half hours close on 23,000 bales were disposed of, which must be regarded as expeditious selling. it was obvious from the opening that, although buyers might be working within narrow limits, they were most keenly interested in the bulk of the offerings, the result being spirited bidding throughout. It was only when it came to the odd lots at the finish that interest waned. Noted Clip's Fine Record The top price again went to the noted Sterndale brand, which, brokers state, has now topped the market for 11 years in succession. It was fine Corriedale ewo wool from Messrs. Andrews and Darricott's Eyre Creek property which gained the peak price of 14id, the lot being sold by Dalgety and Company. It was purchased by Millers, Limited, for tho Rosedale Mills and this firm also bought the bulk of the Nokomai clip, well as much other super fine wools.

Other New Zealand mills were operating freely when the bettor class wools were offered. The voices of the buyers became particularly strident when tlie brokers' binned lots were submitted. This .method of marketing met with strong approval, and is now recognised as a popular and most reliable method of marketing small clips. The Range oi Prices The range of prices was as follows: —

.Tan. 1935 Corriedale — d to d 13 14 Va Half bred— 11% to 13 Medium .. .. 9 Vi to 11 Inferior .. . 8 to 9/4 Fine Crossbred, 48-50— 8% to 9 l A Super Medium 7 to 8 Inferior ■ 6 Vi to 7 Medium Crossbred, 44-46— to 7% Super 7 Medium .. 6 Va to 7 Inferior 5 \to G Coarso Crossbred, 40-44— to cy 4 Super 6 Average 6Va to 6 Inferior 5 to 5VJ 6% Matted, fine Wa to Medium 4 { /l to 5 Hogget. Fino Crossbred, 48-50— Super 9% to 10% Medium 8 to 9 Inferior 7 to 8 Medium Crossbred. 44-4G— Super 7% to 8% 1V 2 Medium 7 to Inferior . . 6Vi to 6% Coarse Crossbred, 40-44— to Super G 7 Medium BMr to f» Inferior 5 to 5Va 10V5 Pieces . . •. • • 8Va to First crossbred 5% to 6% Necks .. .. •» 5% to 7V2 Bellies— to 8 Halfbred .. • • 7 Crossbred .. • • 4% to 5 Medium .. • ♦ 3Va to 4Vi Crutchings— 5 % to Super crossbred «. 6 5 VI Medium to Locks .. • • • • 3 7a to 3% Scoured, 48-50 to 3V2 Super three - quarter to 10% bred hogget Slipe— Halfbred lamb .. to 12% Fins crossbred lamb to 12Va Three-quarter bred lamb to 9Va