£l4/5/- A BALE

New Zealand Herald, Volume LXXV, Issue 22988, 16 March 1938, Page 16

£l4/5/- A BALE

f CITAGO GROWERS' WOOL

THIRD DUNEDIN SALE 17JD FOB SUPER HALFBRED « 'AVERAGE PRICE 10I> TO 10.11) " fßt TELEGRAPH—OWN" CORRESPONDENT] DUNEDIN. Tuesday A brisk demand, with keen bidding within definitely prescribed limits, the maintenance of late rates for all descriptions of wool, a noticeable firming in values for crossbreds, and finally a ' more general disposition on the part of vendors to meet the market, were chief features of the third wool sale of the season in Dimedin to-day. A total "of 26,038 bales was offered, and a clearance of approximately 95 per cent was reported. Bidding was more animated than at the February sale, and at times competition ; was exceptionally keen. A representative bench of buyers included Japanese operators, who competed keenly for halfbred and crossbred lines i suited to iheir requirements, and often set a pace that no one else was willing to 1 follow. Compared with (lie Invercargill sale ■ on Friday, crossbreds were dearer by ' about id' and fine wools were firm at late rates, with any change in the „ growers' favour. The top price of the sale was 173(1, which was paid for a lire of super halfbred. At the February sale Merino wool topped the market < with 19id, and an extra super line of halfbred made 19d. The best Merino price to-de,y was 16d. It is estimated that the average price a'pound to-day was lOd to 10id, with a bole average of £l4 ss. The actual averages for the February sale were 10.39 d per lb. and £'l4 7s Id a bale. The grots proceeds from to-day's ir.fnicticjn should be in the vicinity of ;• '£'356,250, which brings the total wool ~ cheque for Otago to date up to approximately £1,125,130, less than one-half of the amount received from the four tales last season. The bulk: of the buying was done by Bradford and the Continent, Yorkshire " mills in particular being very active J

A'and/determined bidders. The demand w from the United States was limited, but - useful, and the sale was helped along by some inquiry by agents for Canadian

manufacturers. In the absence of extra <f super and super lots, which are their \ specialty, local mills were comparatively quiet. The trend of recent sales was borne

out in the >general preference shown "" for crossbred wools, coarse and medium descriptions meeting with a keen demand throughout tho sails which was in v.marked contrast to the inquiry for fine ."-wools. Even with super halfbreds at *'l4d and 14$ d nobody seemed to want them and bidding ceased very quickly. Of extra wiper Merino and halfbred types of wool, which took prices as higli as 19cl and 19|d at the February . gale, therfi wero none to-day. The • ! proportion of super wools of any kind -.♦'■ was. very small and Merinos were [■ offered in smaller quantities than has J -been the ciso for a long time. ; * '» • %«■ . THE OFFICIAL REPORT : KEEN GENERAL DEMAND [BY TELEC.BAPH —PBES3 ASSOCIATION] DUNEDIN, Tuesday The Duiieclin Stock Agents', and Woolbrokers' Association reports that at the third wool sale to-day the cata- . logues totalled 26,038 bales, which were offered to u full bench of buyers. The qualities of the wools auctioned were iiot up to the usual standard, fine wools shelving tho effect of tho severe winter and drought; conditions. However, there Teas a good selection of crossbreds of all grades. A pleasing feature of the salo iwas the keen general demand, and although buyers were operating with ■'''strict limits the bulk of the wool was hfted by Bradford, Continental and Japanese interests. United States of America and Canadian orders were also evident to a lesser degree, while local mills operated on lots suitable for their requirements. The demand from Japan considerably helped the market and their representation lifted a good weight of halfbreds, good crossbreds and fine pieces. It was noticeable, however, that the French demand was quieter for fleece wools, but the demand from that quarter was strong for skirtings. Local scourers also were active. In comparison with the last sale in Invercargill crossbreds were id dearer, while fine wools were firm in growers favour. Since tho February salo held at this centre there has been a general decline in prices. This decline was arrested at the northern sales and the •market has now recovered and can be stated to be firm on February values for halfbreds and top-making crossbreds;. Coarse types of the latter can be quoted at id dearer. The sal* showecj, that! there was a general desire on the part of growers to meet the market, and this resulted in the bulk of the wool being sold at auction, and under 5 per cent wasi passed. The following is the official range of prices:— Merino, (io-70, 60-64: Extra super. If id; super, 13d to 14Jd; average, lid to 12} d; inferior, 9d to lOld. Fine halfbreds, 06-58's: Extra super, loid to 173 d; super, 13d to 15d: average, "-lid- to 12yd; inferior, 8?d to lOd. Medium halfbreds, -50-56's: Extra super, J2Jd to i;.l3d; super, llid to 12id; average. lOd to lid; inferior, Bid to 93d. Extra fine crossbreds, ■4B-50's: Ex:ra super, to 14id; super, lid to 12id; average. 93d to 103 d; inferior, Bsd to 9Jd. Fine crossbred, 46- ; f4B's: Ext,-a, super, 11 id to ]2:{d; super, 10id to Hid; average, 9d to lOd; inferior," Bid to BJd. Medium crossbred, 44-43's; Extra super, lid to 12id; super, 9jd to 10jd; average, 83d to 9id: inferior, 8d to Bsd. Merino.—Necks and pieces: Super, to 12Jd; low to medium, Bid to 103 d. Halfbred —Necks and pieces: Super, 11 id to ,l2icl; good to super. 9d to 10Jd; low r.o medium, 7d to 83d. Crossbred necks and pieces: Super, 9'< d to 10Jd; average,. Sid to 3d; inferior, 7d to 73d. Crutching-,.—Halfbred: Medium to good, 7d to B}tfl; inferior. 6rl to 6jjd. Crossbred: .Medium to good, 7d to 9]d; inferior, 5Jd to 6}d. Locks: Merino, to 63d; halfbred, 4:? d to .">Jd; crossbred, 4d to 3d. SALE OF DOMINION CLIP --- EIGHT MONTHS' DISPOSAL The wool sold in New Zealand in February stalled 169,078 bales, and offerings for the same period amounted to 197,282 hales, according to figures compiled by Dalgety ajul Company, Limited. For the first eight months of tho current season a total of 447,179 bales was offered, of which 385,922 were sold. Last year 454,751 bales were offered dining the samo period, and 450,430 were sold. Exports of wool during February totalled 153,504 bales. Tho total exported during the eight months was <lBS',Bl6 bales, compared with 451,643 fcalas last. year.