KEEN BIDDING

Otago Daily Times, Issue 23703, 10 January 1939, Page 10

KEEN BIDDING

WELLINGTON WOOL SALE DROP ON DECEMBER VALUES CROSSBREDS AND FINE SORTS EASIER COMPETITION WELL SPREAD (Pen United Press Association) WELLINGTON, Jan. 9. Excited bidding and keen buying at slightly lower prices than those of December were the principal features of the second Wellington wool sale of the 1938-39 season, which was held to-day. Great interest centred on this auction, which was the first of the New Zealand series since the Christmas and New Year vacation, and a fairly large gallery of farmers and other onlookers followed proceedings closely. Recent predictions in the trade that Wellington prices would follow the lower trend seen in 'the South Island during the second half of last month were fulfilled. The market for crossbreds was easier than that at Dunedin on December 20, but fine wools, of which there was only a limited quantity sold, were on a par with that centre. Lower Trend of Values Compared with those ruling at the first Wellington sale on December 7 prices to-day were generally from id to fd lower, but the quality of the wool was not up to the usual standard, and this was doubtless a factor in the market. Continental and Bradford buyers were the mainstays of the sale, particularly the former, and it is stated that orders were filled on account of Japan. Passings were relatively small and a clearance of nearly 92 per cent, was made at auction. In view of the large quantity of wool available the total offerings had been increased from the original limit of 24,000 bales to approximately 27,600 bales. There was a completely full bench of buyers, representing every section of the From the very start competition was extremely vigorous at reduced limits, and the sale proceeded at a fast pace. The auction was a hard one, the great eagerness of buyers tending frequently to carry them ahead of the auctioneers. Bidding was very keen and well spread, and there was not a shadow of doubt that wool was wanted. Spirited Competition The Wellington Woolbrokers’ Association in its report states that at the second Wellington wool sale catalogues comprising approximately 27,000 bales were submitted to a full and representative bench of buyers. Competition from the outset was exceptionally keen, but at times was inclined to be erratic, Bradford, the Continent, and Japan were all in the market. Prices, as compared with the last Wellington sale, can be quoted as from id to 5d per lb easier all over. Owing to the retarded shearing, due to wet weather, seed was more prevalent than is usual at the January offering, and for the same reason many of the good clips were showing slight discoloration. As the wool was not quite up to the usual standard this may possibly account for some of the easing in prices. Bellies, pieces, and crutchings also showed the same drop. Larribs’ wool, of which there was only a small quantity offered, sold much on a par with the last Wellington sale, but as the offering was not very large this is not perhaps a true indication of the market. Growers in most instances were prepared to meet the market, and clearances of approximately 90 per cent, were effected. THE RANGE OF PRICES The following was the official range of prices compared with last month’s auction;— _ _ A Dec. 7 Jan. 9.

EXCITED BOYERS A. BOISTEROUS AUCTION (Special to Daily Times) WELLINGTON, Jan. 9. The sale was by fgr the noisiest seen and heard at Wellington for a long time. Buyers bid frenziedly and shouted themselves hoarse with their efforts to secure wool. Frequently there were 10 to 12 buyers on their toes bawling their bids at the top of their voices. That the pace was a hard one was evident, as a number of the buyers shed coats, collars, and ties for greater freedom of movement in their race lor wool.

Nevertheless, it wa» clear that the

most voracious buyers were working on definitely lower limits, and that values all round were on a lower basis than those of the December sale at Wellington. It is probable that the quality of the wool had a good deal to do with the drop in prices. Growers generally were disposed to meet the market, and a good clearance was made at auction. In view of the recent easing in the market, brokers’ valuations had been made on a conservative basis, and consequently passings were not frequent, the total being only 2390 bales. As was the case at the previous sale, Continental buyers were extremely active and took a large weight of wool. Bradford gave good support and bought freely. Orders were also filled on account of the Japanese Government. Local buyers bought sparingly.

d. d. d. d. Merino 64-70 — Super .. .. 113 to 121 12 to 121 Average — to 10s 11 to HJ Inferior — to 103 — ■ Fine halfbred 56-58— Super .. 12i to 131 Hi to 12 Average Hi to 121 10i to Hi Inferior — to 111 8i to 10 Medium halfbred 50-56— Super .. iii to 13 HI to 12i Average 101 to m 10 to 11 Inferior 9i to 11 8J to 93 Extra fine crossbred 48-50 — Super .. Hi to 141 10i to 131 Average ' .. 101 to Hi 9a to 104 Inferior 9 to 10 8 to 9| Fine crossbred, 46/48— Super .. Hi to 141 10i to 133 Average 101 to Hi 9i to HI Inferior 8 to 10 8 to 9i Coarse crossbred 40/44 — Super ... .. Hi to 141 11 to 13 Average 10 to Hi 9i to 11 Inferior 7i to 93 8i to 91 Low crossbred, 36/40— Super .. 141 to 15 113 to 131 Average 101 to 113 10i to 113 Hoggets— Fine, 48/50 .. 10i to 12i 83 to 12J Fine. 46/48 .. 9 to 12 8i to Hi Medium, 44/46 101 to 11 93 to 11 Coarse. 40/44 114 to 143 — to 101 Low, 36/40 .. 11 to 15 Hi to 12 Lambs— Down, 50/56 6 to 103 — Fine. 44/50 .. B to 11 9i to 13J Medium, 40/44 — 7i to 10 Seedy and inferior .. — 6i to 83 Bellies and pieces— Merino, good to super .. —• 71 to 9i Low to medium •• — — to 9 Halfbred — Low to . medium .. — to 8 — Crossbred— Good to super 7J to 10 8 to 101 Low to medium .. 41 to 8i 3i to 7i Crutchings— Medium to good .. 7i to 18 73 to 10. Inferior and seedy 53 to 7 4 to 83 Locks— Merino .. — — to 4 Halfbred — 41 to 4A Crossbred 41 to 5i . 3i to 51