WOOL IN DEMAND

New Zealand Herald, Volume LXXIV, Issue 22629, 18 January 1937, Page 10

WOOL IN DEMAND

GOOD NAPIER SALE HIGHER PRICES RULE il) CP ON WELLINGTON BEST LINE FETCHES 23D [by TELEC.IUrn —OWN correspondent]] NAPIER, Saturday A rise of one penny to ono penny halfpenny on the December sale, and, on the basis of quality,-a rise of one halfpenny and better on the last Wellington sale, was the feature of the wool sale in Napier to-day. A catalogue of 30,370 bales was submitted to a full bench of buyers representative of a 111 consuming countries. Brokers expressed themselves as being vary well satisfied with the selling, which was carried on very brightly from the opening.

As far as the quality of the wool was concerned, this generally was good, with some particularly good back country and coastal clips included, but it was not up to the standard of the clips offered at the first sale. In the morning it was clear that competition for the wool was general to a far greater extent than at the last Napier sale. On that occasion Japan dominated the market, with America and tho Continent operating to a lesser extent. To-day, however, Bradford, American and Continental representatives entered tho market with the most clastic limits experienced in Napier for many years. Keen Bidding From Start Bidding was brisk from tho outset, half a dozen or more buyers frequently being on their feet at one time. A review of tho selling shows that low quality lines were in keen demand, meeting the most animated competition of tho sale. In numerous clips B grade sold better than A grado by a margin of up to one penny farthing, while C grade was often better than A by one farthing to a halfpenny.

Lambs' wool showing quality was eagerly sought after, and ranged for best lines from ISJd to 22d per lb. Fine crossbred hoggets ranged from 18Jd to 21d, with an extra quality lino reaching 22d. Tho top price of the sale was 23d, for a line of Southdown. Coarse crossbreds of low quality commanded most active competition in flecco wools, these grades' beating A grade lines by fully one penny farthing, which is attributed to the American tariff having been reduced on low 44's. Fine Quality Wools

An easing in value which was slightly noticeable in fine wools was the result of Japan's withdrawal from bidding. Crutchings sold especially well to make up to 17Jd, with average quality up to 16d, these being the best selling lines in the sale. The few lines of Lincoln wool suitable for carpet-making realised 18'td. Cotted wool, which usually meets with quiet inquiry, made 18d. Locks commanded particularly keen attention and realised lOd. Binned wool met with lively bidding and one lot of 900 bales, representative of all qualities of Hawke's Bay wqol, from Southdown to Lincoln and including halfbred, brought to 20Jd- Scoured bellies and pieces made 18Jd. Freedom of Bids Bidding was elastic in the extreme, a fact illustrated by the sale of one line of lambs' wool at 21d, after it had been started at 14$ d. Bidding in this and several other cases was raised by pennies at a time instead of the usual farthings. Discussing the sale and the prospects for the remainder of the sales this season, an expert closely associated with the position said there was at present every reason to expect that the urgent demand for wool would be sustained, at least until the end of the season. Whether or not the prices realised at to-day's auction would remain at that level was beyond anyone's ability to say. That farmers fully appreciated the advanced values to-dav was indicated by the fact that, at least during the early stages of the sale, the market was met in every instance.

RANGE OP PRICES DETAILED REALISATIONS £BY TELEGRAPH PRESS ASSOCIATION] NAPIER, Saturday The range of prices at the Napier wool sale was:— Southdown — d d A grade .. ..3 9 to 20 E' grpde .. ..15 to 38 Halfbred, SG/5S — Super .. .. to 21% Average .. ..18 to 10 Halfhred, 52/50 Super .. .. 10% to 20V, Average .. .. 17% to 18% . Inferior .. .. 10 to 17 Extra fino crossbred, 48/50 —■ Super .. .. 17% to IS 1 /, Average .. .. 15% to 10% Inferior . . 14 to 15 Fino crossbred, 40/48 — Super .. .. 17 to 18 Average .. .. 11% to 15% Inferior .. .. 12 to 13% Medium crossbred, 44/4G — Super .. .. 10% to 17% Average .. .. 1-1% to 15% Inferior .. .. 12 to 13% Coarse crossbrod, 40/44 — Super .. .. 17% to 18% Average .. ~15 to 10 Inforior . .. 13% to 14% Strong crossbredSuper .. ..17 to 18% Average .. .. 15% to 10% Inferior .. ..14 to 15% Hoggets—--50/58, .. .. 10 to 21 52/54 .. .. 18% to 20% 48/50 .. .. 15% to l(t% 40/48 .. .. 15 to 10% LambsFine crossbred .. 10 to 22 Medium . .. 10 to 18 Seedy and inferior 7% to 12% Necks — Super .. .. 15% to 17/3 Average .. .. 13% to 15% Inferior and seedy 12 to 33 Pieces — Super .. .. 14% to 10% Average .. • • 13 to 14% Inferior and seedy 10 to 12 M "SU .. m >. im Average . ■ -• 31 to 14/ a Inferior and seedy 0 to 10% Crutchings— Super .. 17 to 18/ 4 Average .. .. 14 to 3 5 Inferior and seedy 13 to 14 Crossbred .. 0% to 10%

SALES IN DOMINION INCREASE LAST YEAR Sales of wool in the Dominion in the latter half of last year were higher than in tho last six months of 1935, according to figures compiled by Dalgety and Company, Limited. A total of 179,702 hales was offered last year and 177,586 hales were sold, against 171,625 bales offered and 160,359 sold in 1935. In December, 1930, 157,012 bales were offered and 156,033 bales were sojd. Exports of wool from tho Dominion in the last six jnonths of last year were 164,857 bales, against 182,198 bales in the corresponding period of 1935. A total of 31,276 bales was shipped from Auckland and Opua, against 28,226 bales in 1935. A total of 68,483 bales was shipped from New Zealand in December, the Auckland and Opua figures being 68,483 bales.