FIRM WOOL SALE

New Zealand Herald, Volume LXXIII, Issue 22345, 17 February 1936, Page 10

FIRM WOOL SALE

WELLINGTON VALUES r STRONG COMPETITION ADVANCE IN CROSSBREDS BETTER SEASON FOR GROWERS [by telegraph—OWN correspondent] WELLINGTON, Sunday The outstanding feature of the third Wellington wool sale of the 1935-36 season held yesterday was a strong demand and keen, vigorous competition from all sections of the trade. For the third time this season the total offering was 30,000 bales, and there was a very good clearance. Passings during the first hour were fairly frequent, owing no doubt to growers' reserves being set a little too high, but thereafter tho clearance was excellent. Of tho 30,000 bales offered 26,600 were sold at auction, passings being a shade under 13 per cent. In. most of tho catalogues, however, sales at auction ranged from 94 per cent upward. One firm passed only 16 baleo in a total offering of 1344 bales. The market was gonerally firm on January rates and tho total'gross proceeds of the sale will bo well in excess of £300.000. Up to date, sales of wool, in Wellington and throughout the Dominion are more than 50 per cent greater than those of the corresponding period of last year, while prices range from 20 to 30 per cent higher and in some cases oven more. Offering Mainly Crossbred' Tho wool offered comprised mainly crossbreds from the Wairarapa, Manawatu, Kangitikei and Nolson districts. There was also a considerable quantity of average halfbreds and some average Merinos from Marlborough and Nelson. Very few super lots were offered. Most of the clips showed tho effects of the adverse weather conditions at the beginning of the season. Prices were generally firm and, as ono broker remarked, any difference in values of later shorn lots was mainly due to their heavier condition and not to market variation. Competition was exceedingly vigorous and well spread, indicating a strong world demand for wool, and, buyers having good orders to fill, the sale proceeded at a rapid pace. A feature was the frequency with which numerous buyers fought hard at a common limit to secure lots. Widespread Competition Competition for halfbreds came mainly from Continental buyers, Japan and Bradford, and for crossbreds these buyers had also to face a demand from Canada and the United States. Japanese competition was the main factor in the high level reached by coarse crossbreds. Taking quality into account, all classes of halfbreds and crossbreds were fully firm on January rates. Fine crossbreds of good style were from id to id per lb. better than Wellington January rates. Top-making sorts advanced a farthing, while coarse crossbreds sold at from par to a halfpenny advance. There were many good lines of lambs' wool, for which good prices were paid, this class making an advance of from a halfpenny to one penny per pound. Hoggets showed little or no change. Crutchings made improved rates, and bellies, pieces and locks were from par to 3d higher. New Zealand mill buyers were keen buyers of suitable lots and made tho pace in these cases. Range ol Prices Following is the official range of prices, those for the January sale at Wellington being shown for comparative purposes;—

January, 193G February, 193G Mennc— d d d d Extra super .. to 18% Super .. .. 15% to ig% 15% to 1G Averase . 13% to 14% 13% to 14% Inferior . to 13 to 13 Fine Halfbred. 56-58— Extra super .. 17% to 18 to 16 Super .. 15 to 16% to 15% Average . 12 to 14% 12% to 15 Inferior . 10% to 11% 10 to 12% Medium Halfbred, J 50-56— Super .. 11!% to 14% — Average . 10% to 12% 9% to 10% to 12% Inferior . 10% to 10% Extra Fine Crossbred, 48-50— Super 11% to 11% 11% to 12 Average . 8% to 11 8% to 11 Inferior . 7% to 8% 7 to 8% Fine Crossbred. 46-48— Super 9% to 10% 9% to 10% 8% to 9% Average . 8% to 9% Inferior . 7 to 8 6 to 8% Medium Crossbred, 44-46— Super 9% to 10% 9% to 10% Average . 7% to 9 7% to 9 Inferior . 7 to 7% 6 to 7% Coarse Crossbred, 40-44— Super 8% to 10% 9 to 10 Average . 7% to 8% 7% to 8% Inferior . 6 to 7% 7 to 7% Low Crossbred, 36-40— 8% to 9% Super — Average . 7% to 8% 8 to 8% Inferior . . • — 7 to 7% Hogget s— 8% to 11% 48-50 8% to 11% Fine, 46-48 .. 8% to 10% 8 to 11 Medium, 44-46 . 7 to 9% 7% to 10 7% to 9% Coarse, 40-44 .. 6 tc 9% Low, 36-10 — 7% to 9 Lambs— 9% to 10% Down, 50-56 .. — Fine, 44-50 8% to 12% 9% to 13% Medium, 40-44 . 7% to 10 — Seedy and infer. 4% to 8% 5% to 8% RellieB and Pieces- — Merino : Good to super 10% to 13% 10% to 14 Low to medium 7% to 9% — Halfbred: 7% to 10%' 9 to 10% Good to super Low to medium 7% to 8 6 to 6% Crossbred: 7 to 9% 3% to 6% 6% to 8% Good to super Low to medium 4% to 7% Locks— Merino ■ Halfbred to 6% 4% to 5% to 7% 6% to 6% 4% to 6% Crossbred 2% to 5%