WOOL IN DEMAND

New Zealand Herald, Volume LXXIII, Issue 22315, 13 January 1936, Page 10

WOOL IN DEMAND

KEEN NAPIER SALE GOOD TONE IN MARKET PRICES AT DECEMBER LEVELS ALMOST COMPLETE CLEARANCE [liY TELEGRAPH—OWN' CORRESPONDENT] NAPIER, Saturday TJnder widespread and brisk competition the second wool isale of the season at Napier to-day proceeded with a good tone, although the market showed little change in values when compared with those at tho December sale. Some lines appreciated up to a halfpenny, while other sorts, more especially shabby hoggets' wool, showed an easing tendency. The total offering of 30,400 bales from tho Hawke'a Bay and Poverty Hay districts was made to a full bench of buyers, and the extent to which vendors were satisfied with the values ruling was indicated by the fact 99 per cent of some catalogues offered changed hands under the hammer. The entry was fully representative, with the back country wools, which carried more condition than the December offering, well in evidence, together with some wellgrown deep hogget wools. Super and fine crossbred wools were more strongly represented than is usual in the January offering, due to delayed shearing. Interest in Lambs' Wool Particular interest attached to the offering of lambs' wool, which for the most part was brighter and. better grown than last year. Strong competition was seen on all super lambs' wool, which elicited some of the keenest rivalry between the buyers exhibited during the auction. At the outset all countries displayed interest, with the result that competition generally was well spread and bidding exceptionally animated. Continental buyers provided particularly keen competition on offerings of fine necks, with France setting a strong pace from the outset and Germany assisting to provide stimulus to the market at times. The market was still definitely a Continental one, but Bradford was more in the picture than at the December Napier sale and Japan had also apparently large orders to fill. America was on the market for suitable lines and buying was also carried out for Canada and Australia. Representatives of the New Zealand mills were prominent at times in the bidding on suitable wools. Good Pieces in Demand A survey of the values shows little change on December rates. Long and shabby hoggets' wool generally eased in value, while there was an exceptional demand for good second pieces and bellies. Lambs' wool was on par with recent Wellington rates. Interlotted lines of quality sorts met with the keenest competition, with buyers displaying a desire to secure these lots whether large or small. Necks were eagerly sought, with Continental interests rivalling each other for the better sorts. Second pieces met with an exceptional demand and competition for them was surprisingly wide. Crutchings were in good demand to make up to BJd for extra well-picked lots, others realising from 5Jd to 7jd. Bellies, not too weighty, also found an exclusive market, and appreciated in value to make up to 62d. Good halfbred wool was in limited supply, a line in average condition making 133 d. Among interlotted types suitable for carding, fine crossbred ranged from 13Jd to preparing wool ranged from 11 Jd to BJd. Necks in these lines ranged from 10{d to 9d. A large number of growers and others interested were in attendance and commented most favourably on the turn of the market. During the sale Mr. K. E. Cornish, who submitted the catalogue on behalf of Dalgety and Company, disposed of 5470 bales in 592 lots in 62 minutes, which is practically a selling record. Official Range of Prices The official raugo of prices, compared with that of the December sale, is as follows: —

LONDON AUCTIONS SMALLNESS OF OFFERINGS FACTORS IN SITUATION LONDON, Jan. 10 The offerings at the London wool sales are tho smallest for a January series since the war. This indicates a tendency for new wool to go direct to the consuming centres to meet current requirements. Also, it tells eloquently of the demand' for the raw material. In recent months the consumption in Britain, especially of Merino, has been extraordinary. France recently started consuming on a fairly big scale. The Yorkshire Observer says it considers tho demand will be good at the opening of tho sales. It is generally expected that Merinos will be from par to 5 per cent higher, bringing them in lino with Australian prices. Fine medium crossbreds should be 5 to 10 per cent dearer and low crossbreds about tho same. Bradford is reported to bo well supplied with crossbreds. Germany possibly will bo a buyer, though she has just concluded purchases from the Argentine under the barter agreement.

Southdown— Super Good to super Average Dec., 1935 d d 12 to 15 Jan., 1936 d d to 15 12 to 13% Hnlfbred, 56-5S— Super Average 13 to 14 15 to 16% 13 to 14% Halfbred. 52-56— Super Average Inferior 12% to 14 11 to 12% 9 to ioy< 12% to 13% 11 to 12 9% to 10% Extra, Fine Crossbreds, 45-50— Super .. .. 11 to 12% Average .. 9% to 10% Inferior . . 7% to 10% to 11% 8% to 10% 7% to 8% Fine Crossbreds, 46-48— Super .. .. 10 to 11 Average . . 8 to Inferior .. 6% to 7% 9% to 10% 8 to 9% 7 to 7/4 Medium Crossbred Super Average Inferior , 44-46— 9% to ioy t 5 to 9% 6 to 7% 9% to 10% 7% to 8% 7 to I 3 /, Coarse Crossbred. Super Average Inferior 40-44— 7 to 8 6% to 6V, 8 to 9 7 to 7 3 A 6% to 7 Lincoln— Good to super Average to good Average Inferior 8% to 9% 7 to 8 5'i to 6V. 7% to 9 Hoggets— 52-50 45-50 .. .. 46-48 11 to 14% 10 to 12 8% to 11 10 to 13% 8% to 10% 8 to 9% Lambs— 48-30 46-48 . . Seedy and infer. 9 to ii'.; 8% to 10/a l>% to 8 11 to 13% 10 to 12 6% to 8 Necks— Super Average Seedy and infer. 9*/ a to 11 8 to 9 6% to 7% 9% to 11 8 to 9 6% to 7/a Pieces — Good to super Low to medium S to 10 5% to 7% 8 to 9% 5% to 7/4 Bellies— Good to super Low to medium 5% to 7% 4 3 i to 5/a 6% to 7 5% to 6 Crutchiugs— Super Good to super Average Low to medium Inferior 77a to 8% 6 to 7% 4'/a <0 5% 6 3 a to- V,i 4 to 6% Locks— 4 to 5 3 /« i to 5%