WOOL CRUTCHINGS

New Zealand Herald, Volume LXXV, Issue 23106, 3 August 1938, Page 9

WOOL CRUTCHINGS

AUCTION AT AUCKLAND SHARP FALL ON LAST YEAR DISAPPOINTING CLEARANCE Only about 50 per cent of; the catalogue of 1600 bales of wool oddments was sold at the annual winter wool auction held in Auckland yesterday. The sale was. dull and disappointing and only occupied slightly over an* hour. The general level of prices was about 100 per cent lower than the rates ruling for crutchings at the winter sale last year. The starting time was advanced from 2 p.m. to 11 a.m. at the request of buyers, who left last night to attend a sale at Wanganui to-day. Most- of the wool-purchasing countries were represented, buyers being present from Bradford, America, the Continent and Australia. The catalogue comprised .mostly crutchings, but there wore a few bales of fleece wool, for which competition was keen. The entry ranged from good crutchings to inferior, and the wool was the heaviest seen' in Auckland for some considerable time. Air though there was little seed present, it was full of earth and grease. Colour and condition were heavy owing to the unfavourable season,, recently experienced. . -

Although prices were lower than those received in the South, this is-ac-counted for by the higher yield of the southern wool. Taken on a clean, scoured basis, values were about on a par. American. and Bradford buyers operated mainly, with good competition from the Continent for the finer wools. The wool was not suitable for the local mills which operated sparingly. . , Prices for crutchings compare with those of the last two years as follows:—" 1038' 1037 1936 d d d d d d Best . 6 to 7% 13Vi to 14% SVi-to OVS Medium 5% to 6Vi 10 3 /. to 14 _ TAtoSVt Inferior 4 to b l / t 9Y, to IOVi 5V* to 7

The main reason for the poor clearance was the high limit get by. farmers, who based their values on those in the South. However, the wool, offered was too heavy to reach the same rates. The good prices realised for fleece wools can hardly be taken as an indi. cation of prospects for the new.season'.3 clip, as there was not sufficient offered to test the market. Some buyers requiro a little wool urgently and the offering is so small that they are_ willing to pay slightly more to obtain it. The next oddment sale after Wangalini will be held at Napier on Friday, followed by auctions at Christchurch on August 23, Timaru on August 24 and Dunedin on August 26.