WOOL FIRM

New Zealand Herald, Volume LXXIII, Issue 22319, 17 January 1936, Page 10

WOOL FIRM

TVANGAXn SALE FINE SORTS PENNY HIGHER OTHER VALUES MAINTAINED CONTINENT SECURES BULK rny TKLECRATH —OWN COIIRESPONDENT j WAXG AXI"I. Thursciay Values at recent wool sales were fully maintained nt \\ to-day, when J a total offering of 30.000 bales was subi mitted to auction before a full bench ! of buvers, Wei! spread bidding. at all ! times dominated by the Continent, reI suited in an excellent clearance of be- ; tween 96 and IT per cent of the oifer- ! mg. at prices satisfactory to growers. | It was the first Wanganui sale of the current season and aroused wide public interest. It was evident that while buyers were operating on limits there was plenty of competition at ruling values. Continj entai operators secured the major share j of the wool, and it was noticeable that Germany was strongly in the market. One broker alone reports the sale of approximately 1000 bales to that quarter. | Bradford helped to maintain the competition. and again gave evidence of a j Steady return to previous strength. It was apparent, however, that that sec- ! tiou of the trade still needs more flex- | ible limits to be able to keep pace with | Continental competitors. Japan bought | extensively from those clips which were : suitable to ber requirements. Effect ol Late Shearing ! Late shearing had an effect on the j get-up of several clips, seed showing through above the average quantity in several instances. A disinclination to skirt thoroughly resulted in seed and dirty wool pulling down the value of certain lines, which would have averaged out on a much higher level had their get-up been improved. laken over all, the catalogue was one eminently suited to the requirements of the Continental trade, Bradford's olecranons being directed to the average io good top-making sorts. American bidding was not prominent, due entirely to the fact that the offering was not suitable for that trade. Brokers' reports show that ruling values were maintained. Finer wools showed a direct advance of up to a penny on the price range established at Wellington recently. The top price of the sale was 17id. realised for a particularly fine line of Corriedale wool submitted by Messrs. Fernie Brothers. New Zealand Mills Active It was noticeable that when the range of prices forged up above lid to lod. the New Zealand mills, especially Ross and Giendining, were keen competitors, most of the higher-priced wools finding purchasers in that quarter. France was prominent in the sales of necks and bellies. Asked to sum up the sale, a prominent broker said that it was a Continental market. The outlook had never been brighter since 19-34. and the readiness of growers to meet the offered values was encouraging. He said that \ the clearance was an effective one, and by the time the season was over, provided the range of prices remained firm, there would he little held wool to carry over to next season. Another broker added that the market was not expected to fluctuate before the close of the season, and the range of values as set by this sale could : be looked upon as being fairly stable. Range of Prices The following was the range of prices: Fine Haifbr<vJ. 50-5S d d Kx'rn super .. .. to \"V, Sx ipt-r 15 to 16 Averaze 13 to 14 Medium Hnlfbred, 50-5G Average lO'/j to 12V, Inferior . . . . . 9V 3 to 10 Extra Fine Crossbred, 48-50 — Super . ■ • • . . 11 to 11% A vera ae 9 to 10 Inferior . . . . . 7% to 8% Fine Crossbred, 46-15 Super . . . . .. 9% to 10% Averapre . .. .. 0-'/ A to 9' Inferior . . . to 7 3 .i Medium Crossbred. 44-40 Average . . . . . to P'i Inferior . . . . . IS'* to 7% Coar.-e Crossbred. 40-44 Averase . • ■ . . 7% to SVi Inferior . . . . 0 to 7 IT'igcf ts— F:r.,\ 4 >-50 .. ~ 9 to II Medium, 40-43 . .. to 10% Lambs— Down, 50-56 .. .. 9% to 11% Fine. 40-50 . . . • & to 12 Seeds - and Inferior — All cradrs .. 5 to 7/i Bellies and Pieces— Crossbred: _ Good to super .. 6 to I i Low to medium . . 5 to 5% Crutchings— „ v Medium to pood .. <o i'/* Inferior and seedy .. 5 to o'/i Lock"— . Crossbred . . .. 4:« to o AUCTIONS IN SYDNEY LATE RATES HOLDING ■.Received Jannary 10. 10.45 p.m.) SYDNEY, Jan. 1G At the Sydney wool sales to-dav 12118 bales were offered and 10,784 we're sold. Also 1371 bales were sold privately. There was good general competition, and the market was firm at lato rates for all descriptions. Greasy Merino sold to 27Jd. CROSSBREDS IN DEMAND GOOD SALE IX LONDON LONDON. Jan. 15 At the wool sales to-day 7911 bales were offered, including 10-18 New Zealand. Of Australian and New Zealand G721 bales were sold. There was a good selection, consisting chiefly of Australian Merinos. There was active competition at firm rates, but withdrawals were fairly frequent among greasies. The Home trade and the Continent were the chief buyers. A New Zealand greasy crossbred clip, "Kaiaua," realised lljd top price and 9Jd average. Messrs. Dawson and Sons, commenting on the sales, says: "Not a single country was outstanding in the bidding. The offering was freely taken by all sections, a feature being the strong demand for crossbreds. Statistically the po-ition is extraordinarily sound. The raw material occupies almost an unprecedentedly strong position, and the advance is justified bv consumption overtaking supplies."