WINTER WOOL SALES

New Zealand Herald, Volume LXXIV, Issue 22779, 13 July 1937, Page 5

WINTER WOOL SALES

PRICES FOR CRUTCHINGS

HIGH LEVEL MAINTAINED GOOD CLEARANCE EFFECTED Highly satisfactory prices for crutchings were realised at the annual sale of wool oddments held in Auckland yesterday. Although the offering; was practically double that of last year, there were few lots passed and keen competition lifted values to a level fully 60 per cent in advance of the rates ruling for crutchings at the winter sale last year. There was a full bench of buyers, representing most of the wool purchasing countries. The catalogue comprised almost 1500 bales, mostly crjutehings, but with a few odd lots of fleece wools. The entry ranged from good crutchings ' to inferior, and a great number of bales was affected by seed. On .account of the wet weather experienced recently, colour and condition were inclined to be heavy and dull. Most of the fleece wool was shabby and stale. The bulk of the offering changed hands at prices on a par with those ruling at the last oddments sale in Xapier. American and Bradford buyers operated mainly, with strong competition for finer fleece wools coming from the Continent. Local mills operated fairly actively. Prices for crutchings were as follows, last year's rates being given in parentheses:—Best grades, .13jd to 14Jd per lb. (SJd -to 9£d); medium to good, 10Jd to 13d ("id to 8id); inferior and seedy, 9Jd to 10Jd (sid to 7d). There was a clearance estimated to be about 92 per cent, which is considered satisfactory, as the offering was much larger than usual; Crutchings are used largely in the carpet trade and the market for carpet wools is firm at present. The interest shown by the United States is accounted for partly by the fact that carpet wools are admitted duty free. Buyers obviously did not only have orders for crutchings, for the few fleece wools offered met with a keen inquiry. However, this can scarcely be taken as giving an indication of prospects for the new season's wool, as there was not sufficient offered to test the market. The next oddment sale will be held at Christchurch on August 17, followed by auctions at Timaru on August 18 and Dunedin on August 20. LONDON CONDITIONS MERINOS STILL SCARCE LOXDOX July 11 The London wool sales have again emphasised the strength of raw material. Combing Merinos are wanted and are still scarce. Some traders expect a definite shortage. Bradford stocks of this, and indeed of all types of wools, are Competition at the sales has been fairly general.