WOOL RATES FIRM

New Zealand Herald, Volume LXXVI, Issue 23273, 16 February 1939, Page 15

WOOL RATES FIRM

GOOD WELLINGTON SALE, SUSTAINED DEMAND GROWERS MEET MARKET CROSSBRED SOLD TO 13£ D

[by telegraph—OWN correspondent] WELLINGTON. Wednesday Keen bidding within generally rigid limits and an excellent clearance at prices about on a par with those of the January auction, were the main features of the third Wellington wool sale of the 1938-39 series held to-day. The spirited competition, which was well maintained right through the sale, was evidence of the strong demand for wool from all sections of the trade. Yorkshire and the Continent were again the mainstay of the market, their representatives taking a large proportion of the offerings. New Zealand mills were buyers of lambs' wool and crossbreds suitable to their requirements. The sale was fast and noisy, the bulk of the offerings of 24,300 bales being cleared when the luncheon adjournment was taken, leaving only one catalogue to be sold in the afternoon. Growers' valuations proved that they were generally prepared to meet the market. Passings were few and far between, and a clearance of 96 per cent of the offering was made. Decline in Quality Very few outstanding clips wore on offer, the wool being mainly average topmaking sorts from the Wairarapa and Manawatu districts, with a small showing of Merinos and halfbreds from Marlborough and Nelson. There was a better selection of lambs' wool than/ at the January sale, but the quality of tha other wools offered was not so good as at that auction. Not a few clips showed the effects of the hard season. It was noticeable that, for the general run of wool offering, buyers' limits were very rigid, bidding for many lots ending with several buyers at the same figure. Occasionally, however, one or two buyers ran some particularly wanted lot up to an outstanding price. It is reported that spme orders wer9 filled for Japan and the United States, but as such buying is done through certain firms, it is difficult to say iu their case where the wool is going. Trend ol! Various Grades

Taking the quality of the offering into account, it can be said that prices were generally on a level with those of the January sale at Wellington. Following that sale, there was a decline of about |d per lb., at the Wanganui, Auckland and Christchurch auctions, but a recovery was seen at Invercargili and Dunedin. To-day's prices were on a par with those of Dunedin for coiuparable sorts. Some grades were slightly above Wellington January rates, and others were £d to id per lb. lower, but in general there was little change. Lambs' wool and bellies and pieces were fully firm. Good crutchings were a little easier, but inferior sorts held their ground. Outstanding prices were 13Jd for ten bales of A crossbred, 13Jd for 13 bales of crossbred, and 13d for a line of 18 bales of lambs' wool. Official Range of. Prices The following is the official range of prices, those for January being shown for comparative purposes: — January February d d d d Merino, 64-70, 60-64 . , Average .. H to 11/4 10% to U/t Fine Half bred. 56-58 — AVerago . . 10% to ll 1 /, 10% to 11% Inferior .. 8% to 10 10% to 10/ i Medium Halfbred, 50-56 — Average .. 10 to 11 10 to 11A Inferior .. 8% to 9% 9 to 9% Extra Fine Crossbred, 48-50 Super .. 10% to 13% 10A to 12 Average . • 9% to 10% 9% to ~iOA> Inferior .. .8 to 6% 8 to !)% Fine Crossbred, 46-48 — Super .. 10% to 13% 10% to 12% Average .. 9% to 11% 9% to 10% Inferior .. S to 9% 7 to 9 Medium Crossbred, 44-46 — Super .. 10% to 13% 10% to 12% Average .. 9% to 10% 9% to 10% Inferior .. 8 to 9% 8 to 9 Coarse Crossbred- 40-44 Super ..11 to 13 10% to 12% Average .. 9% to 11 9% to 10% Inferior .. 8% to 9% 8% to 9% Low Crossbred, 36-40 Average .. 10% to 11% 9% to 10% Hoggets—--48-50 .. 8% to 12% 9 to 11% Fine, 46-48 8% to 11% 9% to 10% Lambs — Down, 50-56 Fine, 44-50 9% to 13% 9% to 12 Seedy & inf. 6% to 8% 6% to 9 Bellies and Pieces— Halfbred: * Good to super 7% to 11 7% to S% Low to med. 7 to 9% 6% to 7% Crossbred: Good to supei 8 to 10% 8 to 9% Low to med. 3% to 7% 6% to 7% Crutchings— Med. to good 7% to 10 7% to 9 Inf. <fc seedy 4 to S% 5% to 7% Locks—■ Merino to 4 to 4% Halfbred .. 4% to 4% 4% to 4% Crossbred .. 3% to 5% 4% to 6 COMPETITION IN SYDNEY SEASON'S RECORD FOR MERINO (Received February 15, 9.10 p.m.) SYDNEY, Feb. 15 At the Sydney wool sales to-day 10,673 bales were offered and 10,108 were sold, as well as 981 privately. There was animated competition from all buying sections, and the market reflected the best features of recent auctions. Excellent clearances were affected. A record for the season at the Australian sales was established for greasy Merino, 28d per lb. being obtained for five bales from Yass.