WELLINGTON WOOL SALE.

Otago Daily Times, Issue 20875, 15 November 1929, Page 15

WELLINGTON WOOL SALE.

A DROP IN PRICES. QUALITY BELOW STANDARD. (Special to Dailx Times.) WELLINGTON, November 14. The woo] sale held in Wellington, the first of the 1029-30 season, was quite up to expectations. Though wool of all descriptions declined in value as compared with the March or closing sales of the previous Beason, the drop in crossbred wool was not so great as some of the more pessimistic in the trade anticipated. The wool offered to-day cannot be classed as being up to the average of a first Wellington wool sale; in fact, there has not been a poorer showing of super-crossbred wools for a good many years.. This has been caused by the hard conditions prevailing during the past winter. There were cold snaps from the south with froets, the sheep have come through the winter rather badly, and there has been considerable mortality in the hoggets. The wool is lacking in that good growth that characteirised the past seasons. This, of course, has had an effect on prices. Last year an extremely good clip was and very good prices were obtained for hogget and super-crossbred wool, and the prices realised yesterday compared with a year ago show a marked decline. There waß a full bench of buyers, and all consuming centres were represented. Singular as it may appear, the market to-day derived whatever strength it exhibited from Australia, and this, because the Commonwealth requires a certain weight of New Zealand crossbred wool. After Australia the American representatives were most active, and then Bradford for super-crossbred hogget wool.. Generally Bradford was not a conspicuous factor in the market, the bulk of the houses represented being more or less quiet. Some large German houses were silent, but France was in the picture most of the time. There was only -a small quantity of merino wool offered, and proved very difficult to quit. Merino wool, as a matter of fact, was selling below crossbreds. Halfbreds, in sympathy with merino, were also weak. In fact, all fine wools were weak and this, it seems, is the result of the vagaries of fashion, and this hcs created an anomalous position, for crossbreds of 48/50 quality did not realise as much as 44/46; that is, a farmer's best grade wool, Eold for less than his second quality wool. It is a position that cannot be maintained, and either fine wools must improve in price or crossbreds must decline. Subsequent sales will probably clarify the position. It is estimated that roughly about 90 per cent, of the offering was cleared, the withdrawals being mostly of fine wools. About 85 per cent, of the catalogues were sold under the hammer.. Jlr J. B. Moodie, chairman of the Wellington Wool Brokers' Association, in a cursory review of the market, commented on the excellent attendance of buyers and the keen interest they evinced in the opening sale of the New Zealand season. "It is gratifying," he said, "to report that prices for good, to medium croesbtreds are considerably in advance of brokers' ideas of values. The bidding for crossbreds was exceedingly keen at the start from Russia. France, and Tasmania. The ( last-named is usually a feature in the opening fiales of the New Zealand season. Bradford was not operating to any notable extent, its interests apparently being confined to medium' topmaking descriptions. Superior crossbreds, light in condition and of good colour, sold at 13Jd to 14Jd per pound, and a few extra 6uperfine lots were sold at slightly higher prices. Good style Romnoys made 11 jd to 13d, with mediums selling at lOd to lid. Buyers' and brokers opinions as to the wool offered appeared to agree in that it was not robust, very thin, and with some tenderness. Evidently the sheep in the Wellington district have not come through the winter as well as they did last year. There was. too, a little more condition in the latest shorn wools than was able last year. T%~ *„n : :- ii__ .* .....

J.Be tollowing la the range of prices:— March 20, Nov. 14, . 1029. cl. d. Merino, 64/70, 60/64— 1929. d. d. Super .. .. — Average .. .. 15* to 171 Inferior .. .. 14 to 15 Corriedale— Super .... .— Average .. .. 15| to 17i Inferior .... — „ Fine halfbred, 56/58— Super .. .. 19 to 10£ 13 tol5j Average .. .. 16 J to 18* 11J to 13 Inferior .. .. 13$ to 16 _ Medium halfbred, 50/56 — Super .. .. 17itol8A 131 to 141 Average .. ,'. 15J to 17A Inferior .. .. 13|tol5i U4 to 13 Extra fine crossbred, 48/50 — Super .. .. 17J to 191 13 to 14 Average .. .. 15J to 17i Hi to 12} Inferior .. .. 13 to 15 101 to ll| Fine crossbred, 46/48 — Super .. .. 16Jtol8J 13 to 141 Average .. .. 14|tol6i 111 to 13 Inferior ■.. .. 12 to 14J 9J to 11 Medium crossbred, 44/46 — Super .. .. 16 tol7£ 12i to 13? Average .. .. 14 tol3| 11 to 12 Interior 12 to 13± Coarse crossbred, 40/44 — 9} to 11 Super .. .. 14Jtol6i 12 tol3i Average .. .. 13J to 14i 101 to Hi Inferior .. .. 10 to 13 Low crossbred, 36/40 — 9 to 93 Super .... Average .. .. 12itol3f Inferior .. .. 9 toll* — Hoggets, 48/50 .. 141 to 184 12 to 133 Fine, 46/48 .. 14 to 17 Medium, 44/46 .. 14 to 16J Coarse, 40/44 .. 14 to 15 12 to 145 12 to 124 Low, 36/40 . .. 12jtol3J Lambs down— — 50/56 .. .. 16 to 21 Fine, 46/50 .. 15 to 20 Seedy and inferior 5 to 14J Bellies and pieces— Merino— Good to super 4J to 16 Low to medium 11 to 131 Halfbred— Good to super 13 to 15J Low to medium 10 to 13 Crossbred— — Good to super I0i to 15 Low to medium 6* to 9* Crutch ings— 8 toll 6 to 7J Medium to good 10 to 13} Inferior & seedy 4} to 81 Locks— 8ito 9} 34 to 7 Merino .. .. 7 to 10 Halfbred .. .. 71 to 91 Crossbred .. 5$ to 74 44 to 5J