WOOL FIRMER

New Zealand Herald, Volume LXXVI, Issue 23263, 4 February 1939, Page 17

WOOL FIRMER

INVERCAEGILL PKICES EXPECTATIONS EXCEEDED FRANCE DOMINATES MARKET j. BRADFORD LIMITS EXTENDED [BY TELEGRAPH —PRESS ASSOCIATION] INVERCARGILL, Friday Southland wool-growers to-day received the benefit of the first upward tendency in the market for wool since the decline which occurred about the middle of last month. The market for the first Invercargill sale of 24,000 bales was very firm and showed an improvement of from a farthing to a halfpenny per lb., compared with recent; northern sales.

While prepared for reduced prices compared with last year, growers found the sale above their expectations and practically the whole catalogue waa sold. For lots which were passed there was considerable activity between buyers and brokers after the sale and the carry-over of wool will be negligible.

French buyers dominated the market throughout the sale. From the outset it was apparent that they were in the market for crossbred wool a3 well as for piece wools, which normally attract French competition at Invercargill. Bradford buyers were also keen and lifted a considerable proportion' of the catalogue, but they had to extend their limits to meet the strong Continental competition. Good General Demand There was a good demand from jail quarters, smaller proportions of the offering going to Japanese, German, Russian, Belgian and American buyers. As has occurred' elsewhere this season, fine wools suffered the greatest reduction compared ?vith last year, .hub coarser grades of crossbr'eds, which comprised the bulk of the catalogue, showed a much smaller reduction, and in some cases actually brought the same prices as at the first sale last year. The wool was in fair condition, buti the effects of the dry autumn last veaf and the shortage of winter feed were evident, with the result that there was probably a greater percentage of shabbier grades of crossbred" wool than' usual. Actually this class of wool was in greatest demand and the catalogue appeared completely to suit the immediate requirements of buyers. £ _ The price of hogget wool was practically on a par with prices obtained in northern centres, but crutchings and good type crossbred ewe wools wera distinctly firmer. Official Range of Prices

The following is the official range, of prices:— >. d d Lincoln .. «• < • 12Vt to 13% Southdown— A Super .. .. 10 to 11 'a B Super .. *. 8 to 9% v "'- Halfbred, 50-56—• Super .. „. 10y« to 11% :> • Average .. 10 to 10,4 _ > Inferior .. .. 9 to 9% " Extra Fine Crossbred, 43-50 — Super .. .. 10V« to 11 Average .. .. 9Va to 10 Inferior .. .. 9 to BVi Fine Crossbred. 46-48 — I Extra Super .. 11 Va to 12 Super .. .. 10 to 11 Average .-. .. 9% To 9% Inferior .. .. 8 to 9 r Medium Crossbred, <ll-16 Super .. .. 9% to 10 1 /,. Average .. .. 9 to 9Va Inferior .. .. 8 t to 9 >- Coarse Crossbred, 40-44 — Supei .. .. 9% to 10 Average .. 8 3 / ito 9Vi Inferior .. .. 7% to Sii ;; Hogget— r 40-56 .. .. 9% to 10*4 48-50 .. .. 9"/j to 11 46-is .. .. 9 to ioy a 44-46 .. 9% to 10 Necks — Fine .. - 10 to 10% Crossbred .. .. 9 to 10 Pieces — Crossbred: Good, to super .. SVi to 9% Average .. .. 6% to S Bellies — ; Crossbred: * Good to super .. 8 to S 3 4' Average ■ .. .. 7 to 7% Crutchings— Medium to good .. 7 , /j to 9% Inferior and seedy-.. 6 to 7 Locks .. 4 x / 4 to a 3/* -C DUNEDIN 'OFFERING FINE QUALITY CLIPS [by telegraph OWN correspondent] DUXEDIN, Friday .

The second Duriedin wool sale will take place on Wednesday, beginning, at 9 a.m. The display of wools to be offered shows that they are -mostly .of fine quality. There will, however, be-a, percentage of crossbred wool grown in coastal areas.

Some of the clips-show the effect the dry autumn and bad winter conditions. The offerings, nevertheless,;, contain some clips of nice quality. So far as the market is concerned prices for ordinary topmaking half- r breds have shown a decline in New Zealand since the December sale in Dunedin. and crossbreds have definitely been easier. Within the past few days, however, the market overseas has had a better tone, and it. is expected that this improvement will be reflected in the prices at the sale on Wednesday <