THE WOOL MARKET.

Otago Witness, Issue 3508, 7 June 1921, Page 18

THE WOOL MARKET.

SYDNEY WOOL SALES. SYDNEY, May 30. At the wool sales competition was keen, Japanese and German buyers operating freely. Super merinos realised 27£d, comebacks 13d, and crossbreds 12Jd. NAPIER WOOL SALES. NAPIER, May 31. The Napier wool stiles were held to-day, 80 per cent, of the offering being sold. Bidding was spirited on the increased limits created since the Wellington sales. Ruling rates were from Jd to Jd per lb better than the Wellington rates. America, the Continent, and Bradford are buying, but the bulk is going to Bradford. Little lamb is offering. Forty-sixes and forty-eights showed an upward tendency, and Southdo-wns were keenly sought for. The increase on the Wellington prices is equal to 5 per cent. NAPIER, May 31. At the Napier wool sales hold to-day 8405 bales were offered, and, despite the fact that all wool carried a reserve of something like 80 per cent., it was sold at prices on an average which showed an increase of about 10 per cent, on the Wellington rates, representing an increase of |d to Id per lb on fleece woo’. The buyers present represented New Zealand, English, American, and Continental houses, and competition was brisk throughout. The top price realised was lojd for a line of Southdown wool. Super-clean crossbred wool was sold to American buyers at from 6Jd to Bd. Fully 60 per cent, of the wool quitted was taken for Bradford firms, and most of the remainder was distributed between New Zealand and American mills, and the balance was bought on behalf of French and Belgian firms. A French buyer informed a reporter that the future promised a much better demand from France. The slackness recently was cine, not to lack of machinery, but to the adverse exchange, which was now happily improving. France was now able to take from New Zealand as much wool as in pre-war days. Buyers were disappointed at the almost complete absence of lambs’ wool, a circumstance evidently due to the farmers’ reluctance to pay the charges demanded for shearing. Tiie rgjpge of prices was as follows: South ciown, BJd to lOf-d. Crossbred: Coarse, 2d to 3Jd; medium, 3|d to GJd; fine, 4Jcl to Bd. Lambs, 3c! fo Bd. Pieces: Ordinary, lid to Sid; three-quarter-bred, 5d to Old. Locks, :]ci to lid ; bellies, Id to 3d. AUCKLAND WOOL SALES. , AUCKLAND, June 5. At tno Auckland wool sales last night 7500 bales were offered and about 70 per cent. w T eie sold. Prices showed an improvement of from o to 7 per cent, on the recent Napier sales, buyers bidding fairly freely. First three-quarterbreds sold at Id; second threeCjiiarterbreds at 3d; Romneys, 3Jd to 4|d; fine crossbreds, 2;>cl to GJd; mediums, 21 d to scl; lambs, 5d to lOJcl. AN IMPORTANT CONFERENCE. WELLINGTON, June 1. The Producers’ Standing Committee met to-day, Mr G L. Marshall presiding. There were also present the Minister of Agriculture (Hon. W. Nosworthy). Sir James Wilson, Mr VV. D. Hunt (who, with Mr Hamish Wilson, reported on the wool position in London), Air D. W. Duthie (olr.ainn.an of the Associated Banks), Mr J. W Collins (Secretary of tho Department of Industries and Commerce). Mr A. E. Mabin made supplementary remarks on iris report on the wool position, as it appeared .after his investigations in Melbourne, and his conference with tire Australian directors there of " Bawra.”

Tho committee resolved to recommend the Minister of Agriculture to constitute a Wool Committee, consisting of five members of th© Producers’ Committee, with power to (a) regulate wool allocation for auction sales in New Zealand; (b) to fix reasonable reserves on New Zealand wool on a parity basis in New Zealand, Australia, and London; (c) to formulate a policy to deal with carry-over wool, with power to act; (d) to enter into sue li business and financial arrangements with the British and Australian Wool Realisation Association, or other bediee, as may be found necessary or desirable. The Minister of Agriculture was subsequently asked if lie Lad any announcement to make respecting th© Government's intentions. The Minister said a decision had not yet readied him, but in any case it mu3t go before Cabinet. RABBITSKIN MARKET REPORT. Th© Dunedin Woolbrokers’ Association (Messrs Dalgety and Co., Limited, Todd Bros., Limited, National Mortgage and Agency Company, Limited, New Zealand Loan and Mercantile Agency Company, Limited, Otago Farmers’ Co-operative Association, Limited, Donald Reid and Co., Limited, Stronach, Morris, and Co, Limited, and Wright, Stephenson, and Co. Limited) report as follows:—Sales were resumed on the 39th May to a full attendance of buyers. Prices for low sorts were slightly easier than last sale’s rates, while better sorts were slightly firmer We quote: Runners and suckers, 2Ad to 9£d; prime racks. 13d to 35£d; early autumns, 20£d to 29d; late autumns, 29d to 35Jd; incoming winters, 36|d to 44k1; early winters, 40d to 46d; winter bucks, 39d to 45d; winter does, 45Ad to 54£d; autumn black, 37d to 4; early winter black, GJd to 63d; -autumn fawn, 17d to 18£d; hares, 4pl to fid; horsehair, 12d to 16d. THE OAMARU MARKETS. (From Ouii Own CuKRKtfm.vuEXT.) OAMARU, Juno 4. The week has been a particularly slow ono in the local markets. A great many of those associated with business in agricultural products and stock having been lured to Dunedin by the Winter Show and races. The chief feature of tho grain and produce market has been the advance in the prices of oats, the possibility of 2 31# ofitable shipment to the London market as a result of tho reduction in freights having put a brighter aspect upon matters. Merchants arc new more ready to buy, but the quantity offering from the country is small, a very large proportion of the season's product being held in stack to await developments. At the beginning of the week A grad© Gartens were secured at 2s 9d and B grade at 2s Gd, both net at country sidings, but later business was done at 2s lOd for A’s and 2s 8d for B’s. Only a few small lots of wheat havechanged hands during the week, and though a number of Ujies await disposal the season 13 approaching an end. Samples of Chevalier and Cape barley have been submitted, but there arc at present no buyers for either variety. Some business in potatoes has been done at country stations at £4 net, th© purchases being made for local consumption. There has since been a weakening cf the market.

SOUTHLAND MARKET REPORT. (From Oitr owy Correspondent.) INVERCARGILL, June 4. Oats.—During the week Hi© market was' again firm, and growers have been freely offered 2s 7d on trucks for A grade, which is practically an equivalent cost to merchants of 3s 5d f.0.h., sacks in. From this it is apparent that there are at least some who are optimistic as to the future cf the market. On th© contrary, northern buyers refuse to entertain any quotation in excess of 3s 3d. The outlook for export to .Great Britain holds out some promise, and should anything possibly happen in this way prices will then in all probability advance stall further. Chaff.—Nothing of any consequence has been offering during the week, but buyers are fully supplied for the needs cf the local market, and prices still remain as in our last advice at £3 15s on trucks at fairly handy sidings for prime quality. Ryegrass.—There has been something almost approaching speculation in this market during th© week, several considerable lines front growers having changed hands at an advance of quite 3d per bushel on previous rates; ono considerable line of 23-2 lib seed from Dio mill found a buyer at 3s per bushel. This movement is due mainly to the fact that some northern buyers considered southern prices more favourable than eisewhere; the constant inquiry naturally had a tendency to pu* up buyers’ ideas of values. There is a difference of opinion amongst merchants as to the prospects of this seed, as it is now possible for Great Britain, with reduced freights, to compete for northern business. . Hemp— Millers are a little more optimistic as to the future of their industry owing to the recent drop in freights, and ratnei bottoi prices offering on tho London market. There is, however, no business to report. SALES OF SHOW STOCK. There was little competition at the sale Wednesday morning cf fat stock, and at the pr'ces accepted many of the animals were, it was said, “thrown away.” Several lines were nassed in. The following sales were effected: —Bullock, under four years, £SO; three Corriedalo wethers. 44s each; three longwool wethers, 52s each; do, 40s each; do, 30s each, do, 80s each; three sheep, in class suit a mo for frozen meat trade, 27s each; do, 25s each; three crossbred longwool hoggets, 27s each; do, 30s each; do, 30s each. Stronach, Morris, end Go. report having sold: For Charles Chittock (Waikoikoi), one pen first-prize wethers at £2 12s and one pen wethers at £2 to J. W. Thomas (butcher, Stuart street, Dunedin); W. Moynihan (Ngapuna), three pens extra goon lambs at £2 to \V. Swale (Lime Hills, Southland). Competition at the sale of show stork last week was very poor, and prices obtained were not up 'to the usual figures at last show sales. The Otago Farmers’ Co-operative Association offered! the following lines: —For William Movnilnm (Ngapuna), 3 lambs 40s, io W. Swale (Lime Hills) ; James Gordon (Toiro), 3 pens lambs 30s to New Zealand Refrigerating Company, 3 wethers 27s to Barton and Trongrove, 3 wethers 25s to P. Cameron; John M'Leod (Weddcrburn), 3 lambs 29s to New Zealand Refrigerating Company, 3 lambs 27s to F. Cameron. NEW ZEALAND LAMB. WELLINGTON, June 3. Private advice was received from London on Thursday by cable reporting sales of New Zealand! lamb on the water (within 14 days of arrival) at Is Old «. pound, a very satisfactory price in tho present state of the market. Other sales are at Is and Is OJd. WINTER HORSE SALES. AY right, Stephenson, and Co. (Limited) report as follows:—We held our annual winter horse fair mi Thursday and Friday he-!, when we submitted a catalogue of 142 horses

for tho two days’ sale. There wets an extraordinary large attendance of the public, and a keen demand fer all sound, young animals fit for hard work. In spite of tho continued dry weather in tho northern port of the province and in Canterbury, buyers from the north secured several trucks of tho best sorts. Had good rains fallen prior to the sale there would have been an even better demand from Canterbury. Although there were several oonsigumente of good useful horses, the major portion of the yarding could only bo deserilred as ordinary plough sorts. There was a complete absence of highly bred mares and fillice and massive young geldings such as were often catalogued for this sale a few years ago, and it is unfortunately becoming increasingly apparent that the quality of the Clydesdale horso-s throughout the country is not what it used to be. It is to be hoped that the present fairly remunerative prices may be at least maintained, if not, improved on, so that breeders may bave come inducement to invest further capital in importing some fresh blood from Scotland, and that, failing this, only the best available sires will be used. This province has long bc.n looked upon as the home of the Clydesdale in Australasia, and our farmers, although their studs are not. generally speaking, numerically equal to what they us:d to be, still hove the best blood in their brood mares and a special knowledge of breeding. All that is wanted to restore ho old order, as we said before, is a. fre3h infusion of the best imported blood, and satisfactory prices to justify the expense of securing it. To revert to the sale, wo ■-old 69 horses on Thursday and 38 on Friday The following will give an idea of the prices obtained: Sales.—For Mr Oliver Grey (Milbum), six-year-old gehlii'g, £SB; seven-year-old gelding, £54 Mr Alex. Hastier (Momona): Five-year-old mare. £45 10s. Mr James Kenyon (Merlon): Three-year-old filly, £ls: seven-year-old mare, £ll. Mr K. B. Ferguson (Waitati): Three-ycar-old colt, CII; Mr John. Lackey (Middlemareh): Six-year-old mare, £44; Casterhope Estate: Six-vrar-old gelding, £l4; Mr D. Snell (Monona); Five-year-old mare, £l3. Various vendors: A largo number of young mares and geldings from £35 to £l2 Almost without exception the unsold horses were aged and stale. Tho Otago Farmers, Co-operative Associartion reports as follows: —V\ e- held our annual winter horse sale at our Horse Bazaar, Crawford street, on Thursday and Friday last, when we submitted a catalogue cf 127 horses for the two days’ sale. There was a capital attendance of farmers, contractors, and town carriers, and there was a good demand for all young clefty draught mares and geldings four to six years old, but owing to the continued dry weather the demand for ordinary plough horses was not so good. The bulk cf our yarding consisted of ordinary farm horses, and very few Clydesdale mares and fillies and young geldings were offered. For the- two days’ sale we sold 81 horses. The following are sonic of the prices obtained: S:x-year-old gelding, £55; five-year-old gelding, £47 10s; five-yt ar-old mare, £44 10s; live-year-old gelding. £l2; four-year-old geiding £ll His; six-year-o'd mare, £4l; three-, year-old filly, £39 10s; end a largo number of mares and geldings at from £3O to £37. Spring-carters: Six-year-old mare, £27 10s; five-year-old gelding, £26; six-year-old gelding, £25; five-yea.'-old mare, £2l; five-year-old gelding, £2l 10s' and a number at from £ls to £2O.