WOOL RECOVERS

New Zealand Herald, Volume LXXIV, Issue 22670, 6 March 1937, Page 16

WOOL RECOVERS

; AUCKLAND SALE ANIMATED COMPETITION BR ADFORD . BUYERS ACTIVE ESTIMATE OF £23 A BALE // ——s Afte;\ slight declines in the wool market at recent southern sales, values more than recovered at the final auction in Auckland for the 1936-37 season, /which was held in the Town Hall concert chamber yesterday. It was a sale of spirited competition, with a keen general demand for all classes of wool, .and prices rosq again to reach an estimated average of over lod per lb., or approximately £-3 a bale. On these figures, the final sale of the season in Auckland should yield woolgrowers in ; the province something over £500,000. The sale was unusual in many respects. For one tiling, thero was an unusually large proportion of lambs' wool. One authority estimated that "there were about 6000 bales of this class of wool in the total catalogue of 22.252 bales, and that the figure probably constituted a record for an Auckland sale. The predominance of lambs' wool on this occasion is due to late shearing. There was animated competition for wool of this class, with values frequentlj - above expectations. Condition oI Clip Another feature was that January Tates -were achieved, and in many instances exceeded, for wool which was generally of a poorer condition. The choice clips from coastal stations and the islands of the Hauraki Gulf hardly figured at all in the catalogues and the top price of 20kl was realised by 11 bales of scoured crossbred wool, graded fine AA and grown by the Native Department at Rotorua. This lot was bought by Francis Willey and Son, Limited. Although the wool was not up to the standard of that offered at the January sale, several buyers commented on the fact that it was stronger and better-conditioned than is usual at this time of the year. They suggest that this may be due to increased topdressing. However, one buyer mentioned that if some of the clips had been classed and skirted they would, probably have realised an additional lid to 2d per lb. Owing to the unfavourable weather experienced generally while shearing was in progress, a fairly considerable percentage of seedy wool was offered. This did not' influence the buyers to any great extent, as competition forced values for seedy wool well above the level of general expectations. .Bradford Sets the Face From comments at the sale, it appeared that Bradford was mainly responsible for the active tone of the market. Representatives of the great Yorkshire houses made a determined and, apparently, successful effort to secure good top-making sorts and, as, a result of their bidding, rates for crossbred rose by at least Id per lb. on those realised at the January sale. One authority stated that Bradford had do'minated tho market for topmaking sorts and the Continent for lambs' wool, while Japan had manifested nn interest in the finer classes, although not to the same extent as in the early part of the season. "Bradford delaved'buying at the start of the season,'' he added, "and to some extent has 'niissed the bus.' The Yorkshire houses are now in the position of having to' pay higher prices for a poorer class of wool." ' Almost Total Clearance The, sale resulted in a practically complete clearance under the hammer. Passings were few and in the majority of instances where lots were passed sales were subsequently arranged by negotiation. There is ample evidence that Auckland woolgrowers this season have taken the wise course of meeting the /narket, with the result that wool stores will be virtually empty in tho very near future. The,auction started at eight, o'clock in the morning and, after a few minutes of tentative bidding the buyers soon sensed the tone of the market. Thereafter the sale proceeded at a brisk pace. Often'' there were as many as 10 or 12 buyers on their feet at a time, each using his own individual technique of strideht voice, waving arms or ferocious grimace to catch the eye of the auctioneer. One French buyer was amazingly active and on occasions when he was 'outbid for a lot in which he was particularly interested he would hurl strange Gallic maledictions at the inoffensive auctioneer. Comments of Farmers For the majority of sheepfarmers in tho province, the sale set the final seal of success on one of the best seasons on record. "We hoped that prices might be at least firm on Wanganui rates," one' farmer said, "but it seems to me that they have advanced by about Id to 2d per lb. It is a great .finish to a great season. The high prices have come just at the right moment to save us from the full impact of rising costs." Another farmer mentioned that he had set a fairly high value 011 his fine crossbred in January, with the result that it had been passed in at 16d. Subsequently he had been inclined to think that he had been a little too ambitious, but the wool sold yesterday at 16Jd and he had reaped the benefit accordingly. The sale marks the close of the wool reason as far as Auckland is concerned, although there will be further sales in the South Island and other North Islahd centres. Local wool brokers and other experts suggested that there was every possibility of the latest Auckland rates being maintained until the end of the §eason. GOOD LONDON SALE STRONG COMPETITION LONDON, March 4 At tho London wool sales to-day 7669 bales were offered, including 5496 New Zealand, and 7211 were sold. There was a good selection, and under strong competition offerings sold well at prices from par to 5 per cent dearer. New Zealand greasy halfbred. r, Augi ( " realised 21 d, top price, and 17jd averogo.