WOOL STEADY

New Zealand Herald, Volume LXXV, Issue 23215, 8 December 1938, Page 16

WOOL STEADY

WELLINGTON CLIP PARITY WITH NAPIER TOP PRICE OF 15D CROSSBRED IN DEMAND [B? TELEGBAFH—OWN CORRESPONDENT] WELLINGTON, Wednesday The main feature of the first Wellington wool sale of the 1938-39 season to-day was the remarkable activity of Continental buyers, who dominated the bidding and took a large proportion of the offering. Bradford buyers also operated freely and New Zealand mills bought linos suitable to their reqtZntLcrs were Mled for the United States. There was no evidence of Japanese competition, but it ib, reported that a relatively small quantity was bought on that Government s The catalogues totalled 23,850 bales and were well cleared, passings at the auction being less than 10 per cenfc o the offering, which comprised mainly crossbreds from the Wairarapa, Manawatu and southern Hawke's Bay districts, with a small percentage of halibreds, Competition was keen throughout the sale, and super crossbreds and Lincolns made excellent prices. The market generally showed-little oir no change on that ruling at Napier last Friday, but prices at times were slightly in favour of buyers. The Hawko's Bay wool sold at Napier was of excellent quality, and this factor accounted for any variation in the prices obtained to-day. _ Contrary to the usual practice, the sale did not start punctually at nine o'clock, a short delay being occasioned by the refusal of the buyers to proceed until an assurance had been obtained that export licences would be forthcoming. After that had been done the sale proceeded vigorously, the first catalogue, comprising more than 7000 bales, being disposed of in little more than an hour. Lincolns in Keen Demand Competition generally was keen, especially for good to super lines of crossbreds and for Lincolns, w kich made excellent prices. One line of Id bales of a prepared clip made 15d and nine bales of Lincoln hogget in the same clip made the same price. Four bales of Lincoln in the Masterton clip sold at 142 d. . . There were few Mermos and relatively little halfbred and new season s lambs' wool offering. A fair selection, of crutchings sold well, best sorts making up to lOd and the rest up to 7sd. The official report on the sale issued by the Wellington Woolbrokers' Association states that bidding was well spread and animated, with a good tone prevailing. Merinos Disappointing Merinos and halfbreds were rather disappointing,, competition for these ■wools being very restricted. The low prices ruling in Australia now are no doubt reacting on the market here. Prices for these wools show a decline of lid to 2d, compared with the December sale last year. Excellent, competition was forthcoming for super lines of crossbred, such lots realising exceptional prices, compared with the December sale last year. These super lots were Id to lid up compared with the April sale, the rise no doubt being accounted for by the marked improvement in these particular wools. Official Range ol Prices The official- range of prices was as follows, the rates for December, 1937, being shown for comparison:— Dec.. 1087 Dec., 1938 d d d d Merino, 64-70, 60-64 — Super .. Average ~ 12% to 14 Inferior .. 11% to 12% —* Fine Halfbred, 56-58 Extra super.. Super .. 13% to 15% 12% to 13% Average .. 11% to 13 11% to 12% Inferior .. 9 to 11% Halfbred, 50-56 ■ _ Super .. 12% to 13% 11/ ito 13 Average .. 11 to 12% 10% to 11% Inferior .. 9% to 11 9% to 11 Extra Fine Crossbred, 48-50 — Super .. 12 to 13% 11% to 14% Average .. 10% to 12 10% to 11 Inferior .. 9 to 10% 9 to 10 Fine Crossbred, 46-48 Super .. 11% to 12% 11% to 14% Average .. 10 to 11 10% to 11% Inferior .. 9 to 9 8 to 10 Medium Crossbred, 44-46 Super .. 11% to 13 11 to 14% Average .. 10 to 11% 10 to 11 Inferior .. 8% to 9% 10 .to 10% Coarse Crossbred, -10-44 — Super .. 11 to 12% 11% to 14% Average .. 10 to 10% 10 to 11 Inferior .. 8% to 9}£ 7% to 9% Low Crossbred, 36-10 — Super .. Average .. 10 to 10% 10% to 11% H< 48-50 .. 10 to 13% 10% to 12% 46-48 .. 10 to 12% . 9 to 12 41-46 .. 9% to 11% 10% to 11 40-14 .. 30-10 .. Lambs— v , Down, 50-56 Fine, 44-50 . 10% to 14% 9% to 11 Seedy & inf. 6% to 10 Bellies and Pieces — Merino: Good to super 9 to 10 Halfbred: Good to super 9% to 10 Low to med. 6 to 9 8 '■ — Crossbred: Good to super 8% to 10% 7% to 10 Low to med. 6 to S% 4% to SA Crutchings— Medium to good 7% to 10% 7% to 10 Inf: to siedy 4% to 7 5% to 7 Loc'cs — Merino .. 5% to 6% Halfbred .. 5 to 6% - Crossbred .. 4% to 7% 4% to 5% The next wool sale Will be held at Christchurch on Monday, when 24,000 bales will be offered.

AUCTIONS IN LONDON A POOR SELECTION FREQUENT WITHDRAWALS LONDON, Dec. 6 At the London wool sales to-day 6555 bales were offered, including 3516 bales from New Zealand, and 4911 were sold. There was a poor selection, chiefly of New Zealand wools. The Home trade demand was less active, owing to the wools being more suitable for Continental'purposes. Withdrawals were frequent among slipos and inferior Merinos, owing to low bids. Rates generally wore maintained. New Zealand greasy halfbred, "Strathconau," made a top price of per lb. and an average of 10Jd; scoured Merino combing, "Flockhill," 18d; slipo crossbred, "T.B. and 5.," 14Jd and BJd per lb.

SYDNEY COMPETITION SEASON'S TOP PRICE EQUALLED (Received December 7, 9.25 p.m.) SYDNEY. Dej 7 The offering at the wool sales today was 12,489 bales, of which 11,260 bales were sold, also 1118 privately. The market was firm for all descriptions, with good general competition. Greasj* Merino made to 23£ d per lb., which equals the top price of the season.