Wool Prices Have Soared in Two Years

Otago Daily Times, Issue 26963, 24 December 1948, Page 3

Wool Prices Have Soared in Two Years

THE FARM

The two years that have passed since the resumption of wool sales in New Zealand, following the wartime appraisal years, have been marked by a sharp and continual rise in auctipn prices, and it has been in Dunedin, more than at any other selling centre, that the best values have been realised. Dunedin sales are noted for their highquality wool, and it is appropriate that here should be set the New Zealand records.

While the top price at an auction certainly does not indicate a great deal, it will always be of great interest. After the appraisements ended, the first wool sale in Dunedin, with the exception of the winter oddments auction, was held on December 13, 1946, when the top price was 39£d secured for fine halfbred offered by Mr J. Wilson, of Lauder. The top price at the second sale on February 5. 1947, was 37£d paid for superfine merino combing wether sold by Mr D. G. M'athieson, of Waihemo. On March 12, Mr James McArthur, of Clyde, sold superfine halfbred for 39d to gain top price for the day, and at the final aufction of the season on April 19, the top price was 38d secured for a parcel of extra-special merino sold by Mr R. K. Ireland, of Oamaru. Although the top price had not exceeded 40d during the 1946-47 season, it jumped to the New Zealand record

of 55Jd at the first sale of the 1947-43 season in Dunedin on October 20. 1947, when Mr T. A. Thompson, of Middlemarch, gained this price for his superfine halfbred. Another new record was established at the second sale, on December 22, when Mr Robert Jopp, of Chatto Creek, sold lots of super merino at 64jd and 63£d. Mr J. C. Saunders, of Alexandra, secured the top price of 59d for merino at the sale on February 23, 1948. The final sale of the 1947-48 season was a double auction on April 16 and 19 this year. Although the top price on the first day was 62Jd for merino, it rose on the second day to the new record of 66d. which was paid for A merino and A quarterbred sold by Mrs K. Scott, of Rees Valley. After the alteration of the exchange rate to parity with sterling, there was an air of uncertainty at the crutchings sale in Dunedin on August 23 last, when little fleece wool was sold and passings were abnormal. There was no uncertainty at the first fleece sale of the 1948-49 season this week, however, when the new record of Bljd was set for the merino offered by the Gibson Estate, Tarras. A better indication of how prices have risen in the past two years is afforded by comparisons of the range of prices. The range of a few lines at the first sales in Dunedin of the 1946-47, 1947-48, and 1948-49 seasons is:

1946. 1947. 1948. Merino 60/64’s— d. d. d. d. d. d. Extra super to 641 771 to 31-3 ' Good to super 28 to 33 — — 70 to 74 Average 24 to 27i 43 to 47* 54 to 58* Southdown 58/60’s— Good to super 40 to 433 49 to 51 Average 35 to 39 38 to 41* Extra fine Corriedale and halfbred 58/60’s— Good to super 26V to 30! 50 to 54 58 to 60* Average •• 22 to 26 42V to 48 52 to 54* Inferior 18 to 21* 36 to 40 47 to 50 Fine crossbred 50’s— Good to super 213 to 25J 28 to 35 36 to 37* Average 18* to 21 25 to 27 30 to 32 Inferior 16 to 18 21 to 24 24 to 26 Halfbred hogget 50/56’s — Good to super 25i to 27 30 to 323 50 to 541 Average 24 to 243 26 to 28* 42 to 44 Inferior 173 to 22 24 to 25* 29* to 31 Medium crossbred hogget 46/50’s— Good to super 22 to 23* 26* to 28 32 to 34} Average 193 to 213 23 to 25 24 to 26 Crossbred pieces— Good to super 16 to 163 22 to 24 25 to 261 Average • • .. .. 15 to 153 20 to 21* 23 to 24 Inferior and seedy 12 to 13 — — 163 to 18}