WOOL PRICES RISE

Otago Daily Times, Issue 27082, 17 May 1949, Page 6

WOOL PRICES RISE

Welcome Surprise At Final Sale.

OVERSEAS COMPETITION

The glorious uncertainty of wool sales was gratifying for those with wool to sell yesterday at the fifth and final auction of the 19415-49 season in Dunedin. After the low values obtained at the recent Christchurch sale, sellers of wool at the Dunedin auction yesterday received a welcome surprise. It was the annual clearing-up sale and, generally, It was a most satisfactory one. Values exceeded the returns from the

previous Dunedin sale and practically every class of wool met with a keen demand. Most noticeable was the widespread inquiry by Bradford and Continental buyers, who were all most anxious to obtain wool. The New Zealand mills operated sparingly, picking up only odd lots of the better classes offering.

The general appearance qf the wool was barely up to that of recent sales, some of the later-shorn clips showing signs of seed and also a certain amount of dead yolk and dust. The general impression, however, was that the Dunedin wool was, in the main, a better display than that at Christchurch, and this probably had its effect in enhancing values. Bidding was brisk. It was common for bids to rise up to Is and over on the opening bid. ___ Included' in the entry were a number of clips of good crossbred as well as a fair showing of lambs’ wool. All the better-class fine wools showed an improvement of 6d to lOd per lb on the previous Dunedin sale, and in some cases an even further advance, and crossbred wools were better by 3d to 6d per lb. It was noticeable that some lots passed at the previous Dunedin sale advanced by more than 12d per lb. The poorer class wools, oddments and crutchings did not have the same ready sale, and there were passings yesterday of these classes. The number of bales offered totalled 16,545, this including 13,433 of new season's wool and 3112 of stock wool offered on behalf of the, New Zealand Wool Disposal Commission. tn most cases the stock wool had a *good sale. \ Top price for the day was obtained by Mr G. P. Chewings.vof ftlossburn (brand “Glenelg ”), who ?)ld three bales of super quarterred for 59d, and also four bales tof merino at 57d. .The auction began at 2 p.m. and concluded at 10.15. There was a fair attendance of spectators in the Burns H&ll throughout the day, including the usual number of women, who shbwed animated interest in the proceedings.