WELLINGTON WOOL SALE

Otago Daily Times, Issue 22807, 17 February 1936, Page 10

WELLINGTON WOOL SALE

STRONG WORLD DEMAND PRICES DISTINCTLY FIRM BIG OFFERING OF CROSSBREDS (Peb United Press Association) WELLINGTON, February 16. The outstanding feature of the third Wellington wool sale of the 1955-36 season, held yesterday, was the strong demand and keen, vigorous competition from all sections of the trade. For the third time this season the total offering was 30,000 bales, and there was a very good clearance. The passings during the first hour were fairly frequent, doubtless due to the growers’ reserves being set a little too high, but thereafter the clearance was excellent. Of the 30,000 odd bales, some 26,600 were sold at auction, the passings being a shade under 13 per cent. In most of the catalogues, however, the sales at auction, ranged from 94 per cent, upwards. One firm passed only 16 bales in a total offering of 1344 bales. The market was generally firm on January rates, and the total gross proceeds of the sale will be well in excess of £300,000. Up to date the sales of wool in Wellington and throughout the Dominion are more than 50 per cent, greater than those of the corresponding period last year, while prices range from 20 to 30 per cent, higher, and in some cases even more. The wool offered comprised mainly crossbreds from Wairarapa, Manawatu, Eangitikei, and Nelson districts. There was also a considerable quantity of average halfbreds • and some average merinos from Marlborough- and Nelson. Very few super lots were offered. Most of the clips showed the effects of the adverse weather conditions at the beginning of the season. Prices were generally firm and, as one broker remarked, any difference in values of the later-shorn lots was mainly due to the heavier condition and not to market variation. Competition .was exceedingly vigorous and well spread, indicating a strong world demand for wool. The market was distinctly firm, and, buyers having good orders to fill, the sale proceeded at a rapid pace. , , A feature of the sale was the frequency with which numerous buyers fought hard at a common limit to secure lots. Competition for halfbreds came mainly from Continental buyers, Japan and Bradford, and for crossbreds these buyers had also to share a demand from Canada and the United States. Japanese competition was the' main factor in the high level reached by coarse crossbreds. Taking quality into account, all classes of halfbreds and crossbreds were fully firm on January rates. Fine crossbreds of good style were from Jd to id better than the Wellington January rates. Top-making sorts advanced a farthing, while coarse crossbreds sold at from par to a halfpenny advance. There were many good lines of lambs wool, for vyhich good prices were paid, this class making an advance of from a halfpenny to one penny a lb. Hoggets showed little or no chance. Crutchings made improved rates, and bellies, pieces and locks were from par to three farthings higher. New Zealand mill buyers were keen buyers of suitable lots, and .made the pace in these cases. Following is the official range of prices, those for the January sale at Wellington being shown for comparative purposes: Jan., 1936. Feb., 1936. d. d. d. -d.

Merino — — to 18| Extra super — * Super 15i to 162 154 to 18 Average 134 to 14| 134 to 14| Inferior .. .. — to 13 — to 13 Fine halfbred, 56/58 — Extra super 174 to 18 — to 16 Super • • • • 15 to 162 154 — Average .. .. Inferior .• 12 to 144 12| to 15 104 to 111 10 to 124 Medium halfbred, , 50/56— Extra super — — Super •• •• 12| to 14| — Average .. .. Inferior 71 to 9 9| to 10i 7| to 9 104 to 104 Extra fine crossbred, 48/o0— Super .. .. 111 to 111 114 to 12 Average .. • , 8| to 11 8| to 11 Inferior 74 to 84 7 to 03 Fine crossbred, 46/48 — Super .. 9| to 10| 9| to 104 Average ... ■ • 8| to 9| 84 to a* Inferior 7 to 8 6 to Medium crossbred, 44/46 _ Super .. .. 94 to 104 04 to 104 Average .. .. Inferior 104 to 124 — to 12| 7 to 74 6 to 74 Coarse crossbred, 40/44 —, Super 8| to 10| 9 to 10 Average .. • ■ Inferior .. I ■ • 74 to 84 6 to 7| 7f to 7 to 8J 73 Low crossbred* 36/40 — Super .. •• — Average .. .. 7| to 84 8| to 8 to 7 to 91 84 7| Inferior .. .. — Hoggets, — 48/50 .. si to m 84 to 114 Fine, 46/48 .. 8i to 10| 8 to 11 Medium, 44/46 7 to 9| 74 to 10 Coarse, 40/44 6 to 94, 74 to Low, 36/40 .. — 74 to 9 Lambs — 94 to 10| Down, 50/6 .. — Fine, 44/50 .. 8i to 124 94 to 13| Medium, 40/44 7i to 10 — Seedy and 44 to 84 5i to inferior 8| Bellies and pieces. , merino — 104 to 134 Good to super 104 to 14 Low to medium 7| to 9| — Bellies and pieces, halfbred— Good to super 74 to 10| 9 to 103 Low 'to meditmi 7| to 8 6 to 64 Bellies and pieces, crossbred83 Good to super 7 to 9| 6| to Low to medium 34 to 64 4| to 71 Locks — 6| to 74 Merino .. . • — 64 Halfbred 44 to 54 54 to Crossbred 24 to 54 44 to 64