STRONG DEMAND

Otago Daily Times, Issue 27038, 24 March 1949, Page 8

STRONG DEMAND

CONTINENTAL INTEREST WELLINGTON WOOL SALE BIDDING WAS ANIMATED PA WELLINGTON, Mar. 23. Stimulated by a strong Continental demand, bidding was animated and prices fully firm on Napier rates at the third Wellington wool sale of the current season in the Town Hall today. Bradford bought sparingly and within restricted limits. Prices were better than those at the last Wellington sale in February, when the market showed an easing tendency. They more than offset the exchange adjustment to bring New Zealand currency to parity with sterling which was made last August before the opening of the wool-selling season. The Continent was the principal buyer. New Zealand mills bought some of the top lines of Southdown and crossbred and odd lines-of crossbred fleece. The war-time pile of surElus wool stored in the Winter Show uilding and in the Centennial Exhibition buildings at Rongotai was reduced by an offering of close on 3000 bales, which were sold on behalf of the Joint Organisation. Although several years old, some of it dating back to the 1942 clip, this wool opened up in fairly good condition and sold at satisfactory prices. The official report, issued by the Wellington Wool Brokers’ Association in conjunction with the Wool Disposal Commission and the New Zealand Wool Buyers’ Association, states that catalogues totalling 27,370 bales of greasy wool and 2850 bales of stock wool were submitted to a full and representative bench of buyers. The offering was a good average one, being mainly comprised of ewe wool from all districts of the Wellington Province. It was noticeable that wools from districts which were affected by last season’s drought were not very well grown, and contained a big portion of tender wool. They were also carrying a fair amount of dust. Skirtings were, in the main, discoloured. There was a very good offering of lambs' wool, which was particularly well grown. Competition was very keen, the Continental section of the trade buying very freely, with Bradford buyers operating sparingly. The market is quoted as firm on the Napier sale, slightly higher for 50’s and finer, but showing a definite increase on the rates ruling for average wools at the last Wellington sale, held in February. The official range of prices Is:—

Southdown— Good .. 40 to 451 Average .. .. 37 Fine Down cross— Good to super .. to 431 Good . 331 to 381 Fine crossbred— Extra super .. , to 32} Good to super .. to 28$ Good to 26} Average .. .. . to 24} Medium crossbred— Good to super .. to 261 Good . to 24$ Average to 22 Inferior .. .. to 19 Fine crossbred hoggets— Good to 281 Average .. .. to 24} Fine crossbred hogget Good to super (shorn)— .. .. 30 to 35 Good . .. • • .. 24 to 29 Average .. .. .. 22 to 23} Medium crossbred hogget (shorn) — 26$ Good to super .. to Good .. 22 to 23$ Average .. .. to 21$ Lambs, halfbred and Good to super .. Down— to 39 Average .. .. .. 32 to 35} Inferior and seedy .. .. to 29 Medium crossbred— Good to super .. to 35} Average .. .. . .. 24 to 29} Inferior to 22 Seedy to 17 Necks, crossbred— Good to super .. , to 20 Average to 21} Inferior and seedy . . • . to 17 Pieces, crossbred— _ . Average to good . 19 to 20} Inferior and seedy 15 to 17 Bellies, crossbred— Average to good 17 J to 18$ Inferior and seedy . . 14 to 17 Locks, crossbred— lii to 14